Key Terms

Life is a risky business, but with proper planning, your project doesn't have to be. Using processes I've discussed in this chapter, you'll be prepared for the foreseeable and the not so foreseeable. Understand them well, and know each process by the name used in the PMBOKĀ® Guide:

Perform Qualitative Risk Analysis Plan Risk Management

Perform Quantitative Risk Analysis Plan Risk Responses

Identify Risks

Before you take the exam, also be certain you are familiar with the following terms:

acceptance

Monte Carlo analysis

avoid

Nominal Group Technique

brainstorming

ordinal scale

cardinal scale

passive acceptance

cause-and-effect diagrams

probability

contingency planning

probability and impact matrix

contingency reserves

residual risk

decision trees

risk breakdown structure (RBS)

Delphi technique

risk categories

Enhance

risk management plan

expected monetary value (EMV)

risk register

exploit

risk tolerance

force majeure

secondary risks

impact

sensitivity analysis

impact scale

share

influence diagramming

tornado diagram

interviews

transfer

mitigate

triggers

Project Management Made Easy

Project Management Made Easy

What you need to know aboutā€¦ Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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