Continuous Risk Monitoring and Control
Expert-defined terms from the Professional Certificate in Primavera Risk Management and Mitigation course at London School of Business and Administration. Free to read, free to share, paired with a professional course.
Acceptance Criteria refers to the standard by which the success of… #
Related terms include Requirements Management, Quality Assurance, and testing. Acceptance Criteria is used to determine whether a project has met its objectives and is ready for delivery.
Action Item is a task or activity assigned to a team member or stakeholde… #
Related terms include To-Do List, Task Management, and assignment. Action Items are used to track progress, assign responsibilities, and ensure that project tasks are completed on time.
Active Risk Management is a proactive approach to identifying, assessing,… #
Related terms include Risk Assessment, Risk Mitigation, and contingency planning. Active Risk Management involves continuous monitoring and review of potential risks, and it is essential for minimizing the impact of unexpected events.
Adaptive Management is an iterative approach to project management that i… #
Related terms include Agile Methodology, Iterative Development, and flexibility. Adaptive Management involves responding to changing project requirements and adjusting project plans accordingly.
Assumption Analysis is a technique used to identify and evaluate assumpti… #
Related terms include Risk Assessment, Sensitivity Analysis, and uncertainty analysis. Assumption Analysis involves examining assumptions and evaluating their potential impact on project outcomes.
Audit Trail is a record of all changes made to a project or system, and i… #
Related terms include Version Control, Change Management, and compliance. Audit Trails are used to track changes, identify potential risks, and ensure accountability.
Availability is a metric used to measure the uptime or accessib… #
Related terms include Reliability, Maintainability, and downtime. Availability is critical in ensuring that systems and resources are accessible when needed, and it is essential for minimizing downtime and lost productivity.
Baseline is a reference point or starting point used to measure pr… #
Related terms include Scope Baseline, Schedule Baseline, and performance measurement. Baselines are used to establish a starting point for project planning, and they are essential for tracking project progress and identifying potential risks.
Benefit #
Cost Analysis is a technique used to evaluate the costs and benefits of a project or investment, and it is relevant to Continuous Risk Monitoring and Control. Related terms include Cost-Benefit Analysis, Return on Investment, and value analysis. Benefit-Cost Analysis involves evaluating the potential benefits and costs of a project, and it is essential for making informed decisions about project investments.
Brainstorming is a technique used to generate and evaluate ideas,… #
Related terms include Mind Mapping, SWOT Analysis, and creative thinking. Brainstorming involves generating ideas, evaluating options, and identifying potential solutions to project risks.
Business Case is a document that outlines the rationale and jus… #
Related terms include Project Charter, Project Proposal, and feasibility study. Business Cases are used to justify project investments, outline project objectives, and establish project scope.
Business Continuity Planning is a process used to ensure that an organiza… #
Related terms include Disaster Recovery, Emergency Management, and crisis management. Business Continuity Planning involves identifying potential risks, developing contingency plans, and implementing measures to minimize the impact of disruptions.
Capability Maturity Model is a framework used to assess and improve</i… #
Related terms include Process Improvement, Quality Management, and maturity assessment. Capability Maturity Models involve evaluating an organization's processes, identifying areas for improvement, and implementing measures to enhance capabilities.
Change Management is a process used to plan , implement , and… #
Related terms include Version Control, Configuration Management, and release management. Change Management involves evaluating change requests, assessing potential risks, and implementing changes in a controlled manner.
Communication Plan is a document that outlines the strategy and <b… #
Related terms include Stakeholder Management, Information Distribution, and communication strategy. Communication Plans involve identifying stakeholders, developing communication strategies, and implementing measures to ensure effective communication.
Compliance is the state of being in accordance with laws, regulati… #
Related terms include Regulatory Compliance, Audit Compliance, and governance. Compliance involves ensuring that an organization is in compliance with relevant laws, regulations, and standards, and it is critical for minimizing the risk of non-compliance.
Configuration Management is a process used to track and control… #
Related terms include Version Control, Change Management, and release management. Configuration Management involves identifying and documenting configuration items, tracking changes, and controlling the release of changes.
Contingency Planning is a process used to identify and mitigate… #
Related terms include Risk Management, Emergency Planning, and crisis management. Contingency Planning involves identifying potential risks, developing contingency plans, and implementing measures to minimize the impact of disruptions.
Continuous Improvement is a philosophy that involves ongoing effor… #
Related terms include Process Improvement, Quality Management, and innovation. Continuous Improvement involves identifying areas for improvement, developing improvement plans, and implementing measures to enhance performance.
Continuous Monitoring is a process used to track and analyze</b… #
Related terms include Real-Time Monitoring, Risk Monitoring, and performance measurement. Continuous Monitoring involves tracking project performance, identifying potential risks, and implementing measures to minimize the impact of disruptions.
Corrective Action is a step taken to correct a problem or defec… #
Related terms include Preventive Action, Root Cause Analysis, and quality control. Corrective Actions involve identifying the root cause of a problem, developing a corrective action plan, and implementing measures to prevent recurrence.
Cost #
Benefit Analysis is a technique used to evaluate the costs and benefits of a project or investment, and it is an essential concept in Continuous Risk Monitoring and Control. Related terms include Benefit-Cost Analysis, Return on Investment, and value analysis. Cost-Benefit Analysis involves evaluating the potential costs and benefits of a project, and it is essential for making informed decisions about project investments.
Cost Management is a process used to plan , track , and co… #
Related terms include Budgeting, Cost Estimation, and cost control. Cost Management involves establishing a budget, tracking costs, and implementing measures to prevent cost overruns.
Critical Path Method is a technique used to identify and manage… #
Related terms include Project Scheduling, Task Management, and dependency analysis. Critical Path Method involves identifying critical tasks, developing a project schedule, and managing task dependencies.
Crisis Management is a process used to respond to and recover</… #
Related terms include Emergency Management, Business Continuity Planning, and crisis communication. Crisis Management involves identifying potential risks, developing contingency plans, and implementing measures to minimize the impact of a crisis.
Decision Tree is a diagram used to visualize and analyze de… #
Related terms include Decision Analysis, Risk Analysis, and probability theory. Decision Trees involve identifying decision options, evaluating potential outcomes, and selecting the best course of action.
Delphi Technique is a method used to gather and analyze exp… #
Related terms include Expert Judgment, Risk Assessment, and forecasting. Delphi Technique involves gathering expert opinions, analyzing responses, and identifying potential risks and opportunities.
Dependency Analysis is a technique used to identify and manage<… #
Related terms include Critical Path Method, Project Scheduling, and task management. Dependency Analysis involves identifying task dependencies, developing a project schedule, and managing task dependencies.
Earned Value Management is a method used to measure project perfor… #
Related terms include Project Control, Performance Measurement, and cost management. Earned Value Management involves measuring project performance, tracking progress, and identifying potential risks and opportunities.
Enterprise Risk Management is a process used to identify , asses… #
Related terms include Risk Management, Compliance, and governance. Enterprise Risk Management involves identifying potential risks, assessing risk likelihood and impact, and implementing measures to minimize the impact of risks.
Failure Mode and Effects Analysis is a technique used to identify … #
Related terms include Risk Assessment, Reliability Engineering, and quality control. Failure Mode and Effects Analysis involves identifying potential failures, evaluating failure modes, and implementing measures to prevent or mitigate failures.
Fishbone Diagram is a diagram used to visualize and analyze … #
Related terms include Cause-and-Effect Analysis, Root Cause Analysis, and problem solving. Fishbone Diagrams involve identifying problems or risks, analyzing causes and effects, and developing solutions to address problems or risks.
Gap Analysis is a technique used to identify and analyze ga… #
Related terms include Needs Assessment, Requirements Analysis, and performance measurement. Gap Analysis involves identifying gaps, analyzing causes and effects, and developing plans to address gaps.
Governance is the system of rules , policies , and procedu… #
Related terms include Compliance, Risk Management, and regulatory compliance. Governance involves establishing policies and procedures, monitoring compliance, and enforcing rules and regulations.
Histogram is a graphical representation of data used to visuali… #
Related terms include Data Analysis, Statistical Process Control, and quality control. Histograms involve collecting data, creating histograms, and analyzing distributions to identify trends and patterns.
Impact Analysis is a technique used to evaluate and mitigate</b… #
Related terms include Risk Assessment, Change Management, and consequence analysis. Impact Analysis involves identifying potential risks or changes, evaluating potential impacts, and implementing measures to minimize the impact of risks or changes.
Information Security is the practice of protecting information fro… #
Related terms include Data Protection, Cybersecurity, and compliance. Information Security involves establishing security policies and procedures, implementing security controls, and monitoring security threats.
Inspection is a process used to examine and evaluate produc… #
Related terms include Quality Control, Testing, and validation. Inspections involve planning inspections, conducting inspections, and reporting findings and recommendations.
Issue Management is a process used to identify , track , and… #
Related terms include Problem Management, Incident Management, and crisis management. Issue Management involves identifying issues, developing issue plans, and implementing measures to resolve issues.
Kaizen is a philosophy that involves ongoing efforts to improve… #
Related terms include Continuous Improvement, Quality Management, and innovation. Kaizen involves identifying areas for improvement, developing improvement plans, and implementing measures to enhance performance.
Lessons Learned is a process used to capture and apply know… #
Related terms include Knowledge Management, Experience Feedback, and best practices. Lessons Learned involve capturing knowledge and experience, analyzing lessons learned, and applying knowledge to future projects or activities.
Material Requirements Planning is a technique used to plan and … #
Related terms include Supply Chain Management, Inventory Management, and procurement. Material Requirements Planning involves planning material requirements, managing inventory, and procuring materials.
Methodology is a system of principles , methods , and tech… #
Related terms include Project Management, Process Improvement, and quality management. Methodologies involve establishing project plans, managing project scope, and controlling project changes.
Mitigation is a process used to reduce or eliminate risks o… #
Related terms include Risk Management, Contingency Planning, and crisis management. Mitigation involves identifying potential risks or threats, developing mitigation plans, and implementing measures to minimize the impact of risks or threats.
Monte Carlo Simulation is a technique used to model and analyze… #
Related terms include Risk Analysis, Probability Theory, and simulation modeling. Monte Carlo Simulations involve creating models, running simulations, and analyzing results to identify trends and patterns.
Network Analysis is a technique used to visualize and analyze</… #
Related terms include System Dynamics, Complexity Theory, and network science. Network Analysis involves creating network models, analyzing network structures, and identifying key nodes and relationships.
Operational Risk Management is a process used to identify , asse… #
Related terms include Risk Management, Compliance, and governance. Operational Risk Management involves identifying potential risks, assessing risk likelihood and impact, and implementing measures to minimize the impact of risks.
Opportunity Management is a process used to identify , assess</b… #
Related terms include Risk Management, Strategic Planning, and innovation. Opportunity Management involves identifying potential opportunities, evaluating opportunity potential, and implementing measures to exploit opportunities.
Organizational Culture is the system of values , beliefs , an… #
Related terms include Leadership, Communication, and teamwork. Organizational Culture involves establishing a positive culture, promoting collaboration, and encouraging open communication.
Pareto Analysis is a technique used to identify and prioritize<… #
Related terms include Quality Control, Statistical Process Control, and problem solving. Pareto Analysis involves collecting data, creating Pareto charts, and analyzing results to identify key problems or defects.
Performance Measurement is a process used to track and evaluate… #
Related terms include Project Control, Earned Value Management, and cost management. Performance Measurement involves establishing performance metrics, collecting data, and analyzing results to identify trends and patterns.
Portfolio Management is a process used to manage and optimize</… #
Related terms include Project Management, Resource Allocation, and strategic planning. Portfolio Management involves identifying portfolio components, evaluating portfolio performance, and implementing measures to optimize portfolio value.
Probability Theory is a branch of mathematics that deals with c… #
Related terms include Risk Analysis, Statistical Process Control, and uncertainty analysis. Probability Theory involves modeling probability distributions, analyzing probability data, and making predictions about future events.
Process Improvement is a process used to identify and improve</… #
Related terms include Quality Management, Continuous Improvement, and innovation. Process Improvement involves identifying areas for improvement, developing improvement plans, and implementing measures to enhance process performance.
Project Charter is a document that outlines the project scope, … #
Related terms include Project Management, Project Planning, and scope definition. Project Charters involve defining project scope, establishing project objectives, and identifying project stakeholders.
Project Management is a discipline that involves planning , orga… #
Related terms include Project Planning, Project Control, and resource allocation. Project Management involves establishing project plans, managing project scope, and controlling project changes.
Project Planning is a process used to develop and refine pr… #
Related terms include Project Management, Project Scheduling, and resource allocation. Project Planning involves defining project scope, establishing project objectives, and developing project schedules and budgets.
Project Risk Management is a process used to identify , assess</… #
Related terms include Risk Management, Project Management, and quality management. Project Risk Management involves identifying potential risks, assessing risk likelihood and impact, and implementing measures to minimize the impact of risks.
Quality Assurance is a process used to ensure that products or ser… #
Related terms include Quality Control, Testing, and validation. Quality Assurance involves establishing quality policies and procedures, implementing quality controls, and monitoring quality performance.
Quality Control is a process used to monitor and control pr… #
Related terms include Quality Assurance, Testing, and inspection. Quality Control involves establishing quality standards, monitoring quality performance, and implementing measures to prevent or correct quality defects.
Regression Analysis is a technique used to model and analyze</b… #
Related terms include Statistical Process Control, Data Analysis, and forecasting. Regression Analysis involves collecting data, creating regression models, and analyzing results to identify trends and patterns.
Reliability Engineering is a discipline that involves designing an… #
Related terms include Quality Management, Failure Mode and Effects Analysis, and maintenance engineering. Reliability Engineering involves designing reliable products or systems, testing reliability, and improving reliability through maintenance and repair.
Resource Allocation is a process used to assign and manage … #
Related terms include Project Management, Project Planning, and scheduling. Resource Allocation involves identifying resource requirements, assigning resources, and managing resource utilization.
Resource Leveling is a technique used to smooth out resource utili… #
Related terms include Resource Allocation, Project Scheduling, and resource management. Resource Leveling involves identifying resource conflicts, adjusting resource allocations, and smoothing out resource utilization.
Return on Investment is a metric used to evaluate the return</b… #
Related terms include Cost-Benefit Analysis, Benefit-Cost Analysis, and value analysis. Return on Investment involves calculating the return on investment, evaluating investment performance, and making decisions about future investments.
Risk Assessment is a process used to identify and evaluate … #
Related terms include Risk Management, Project Risk Management, and quality management. Risk Assessment involves identifying potential risks, evaluating risk likelihood and impact, and implementing measures to minimize the impact of risks.
Risk Management is a process used to identify , assess , and… #
Related terms include Project Risk Management, Quality Management, and compliance. Risk Management involves identifying potential risks, assessing risk likelihood and impact, and implementing measures to minimize the impact of risks.
Root Cause Analysis is a technique used to identify and analyze… #
Related terms include Quality Control, Statistical Process Control, and problem solving. Root Cause Analysis involves identifying problems or defects, analyzing root causes, and developing solutions to address root causes.
Schedule Performance Index is a metric used to measure project sch… #
Related terms include Earned Value Management, Project Control, and schedule management. Schedule Performance Index involves calculating the schedule performance index, evaluating schedule performance, and identifying areas for improvement.
Sensitivity Analysis is a technique used to analyze and evaluat… #
Related terms include Risk Analysis, Uncertainty Analysis, and what-if analysis. Sensitivity Analysis involves identifying key inputs or assumptions, analyzing sensitivity, and evaluating the potential impact of changes on outcomes.
Simulation Modeling is a technique used to model and analyze</b… #
Related terms include Monte Carlo Simulation, Discrete Event Simulation, and system dynamics. Simulation Modeling involves creating models, running simulations, and analyzing results to identify trends and patterns.
Six Sigma is a methodology used to improve the quality of p… #
Related terms include Quality Management, Process Improvement, and defect reduction. Six Sigma involves identifying areas for improvement, developing improvement plans, and implementing measures to enhance quality and reduce defects.
Stakeholder Analysis is a technique used to identify and analyz… #
Related terms include Stakeholder Management, Communication Planning, and engagement planning. Stakeholder Analysis involves identifying stakeholders, analyzing stakeholder interests and needs, and developing stakeholder engagement plans.
Statistical Process Control is a methodology used to monitor and <… #
Related terms include Quality Control, Process Improvement, and control charts. Statistical Process Control involves establishing control limits, monitoring process performance, and implementing measures to prevent or correct process deviations.
Strategic Planning is a process used to develop and implement</… #
Strategic Planning is a process used to develop and implement strategic plans, and it is relevant to Continuous Risk Monitoring