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Responsibility Chart - to - Risk Analyst

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Definition     Editor's Choice
Responsibility Chart
See Responsibility/Accountability Matrix. [D01705]

Responsibility Charting
The activity of clearly identifying personnel and staff responsibilities for each task within the project. [D01706]

Responsibility Matrix
A matrix that maps WBS tasks to the organizations and individuals assigned as responsible and those supporting those responsible. Also called Task Responsibility Matrix. [D04223]

See also Responsibility Assignment Matrix. [D01707]

Responsibility/Accountability Matrix ("RAM")
A structure which relates the project organization structure to the work breakdown structure to help ensure that each element of the project's scope of work is assigned to a responsible individual. [D01708]

Responsible Organization
A defined unit within the contractorís organization structure which is assigned responsibility for accomplishing specific tasks, or cost accounts. [D01709]

An externally imposed factor affecting when an activity can be scheduled. The external factor may be labor, cost, equipment, or other such resource. [D01710]

Changing the shape of. Rearranging. For example, for purposes of making an organization more effective or efficient. Or, for making the solution to a problem more transparent. [D03245]

Resubmitted Lot
A lot which has been rejected, subjected to either examination or testing, or both for the purpose of removing all defective units which may or may not be reworked or replaced, and submitted again for acceptance. [D01711]

Synonym of output. See also deliverable. [D04765]

Something obtained by calculation or investigation. Consequences or conclusions. [D03246]

A portion of a contract payment that is held until contract completion in order to ensure full performance of the contract terms. [D01713]

A part of payment withheld until the project is completed in order to ensure satisfactory performance completion of contract terms. See also Holdback. [D01712]

A percentage of a progress payment withheld based on unsatisfactory contract progress under a construction contract. [D03563]

A sum of money retained by the customer from each stage payment which is paid at the end of the project when the end product is accepted. [D03937]

Return on Investment ("ROI")
The financial return for a given outlay, usually calculated in terms of present value (i.e. today's value of money.) [D02884]

Further use or repeated use of an artifact [D04767]

The redesign and rework of existing features to improve functionality. [D05092]

The total income produced by a given source. The gross income returned by an investment. [D03247]

Revenue Cost
Expenditure charged to the profit and loss account as incurred or accrued due. [D04505]

Reverse Engineering
The development of design specifications based on an examination and analysis of an existing product. [D06216]

A formal examination of a document or product for comment and approval. [D05474]

To examine critically to determine suitability or accuracy. [D01714]

A review is a group activity carried out to discover potential defects and to assess the quality of a set of artifacts. [D04766]

A person asked to review a product that is the subject of a quality review. [D05475]

 PRNC2 2002
Those responsible for ensuring a product is completed and fault free at a quality review. [D01715]

A change to a document or design. [D04224]

Something given to compensate for positive performance or reaching a certain level of achievement. [D05476]

Something that is given in return for good or evil, done or received and especially something offered or given for some service or attainment. [D03248]

Reward Power
The ability (of a project manager) to gain support because project personnel perceive the project manager as capable of directly or indirectly dispensing valued organizational rewards (e.g. salary adjustments, promotion, bonus, future work assignments, etc.) [D02889]

Action taken to correct a defective or non-conforming item so that it complies with requirements or specifications. [D06217]

The correction of defective work. May take place either before, during or after inspection or testing. [D03685]

See Remaining Float

See Request for Appropriation

See Request for Change

See Request for Information

See Request for Proposal

See Request for Quotation

The potential of a forced and unplanned change in the future and a measure of its consequences, often expressed in financial terms. [D06521]

A measure of how often and how bad it will be if a hazard exists. [D06218]

Risk & Readiness Assessment
An evaluation, based on interviews with senior executives and managers, of the organizations readiness to accept the change brought on by the project. Conducted for the benefit of the Project Sponsor. [D02235]

Risk Acceptance
Acknowledgement of a risk without taking specific action to mitigate or avoid it. [D05719]

Risk Analysis
An examination of risk areas or events to assess the probability and consequences for each event, or combination of events in the analysis, and determine possible options for mitigation or complete avoidance. [D03686]

A technique designed to quantify the impact of uncertainty. Usually, but not necessarily, associated with the Monte Carlo Simulation technique. [D01720]

An evaluation of the feasibility or probability that outcomes of a project or policy will be favorable. Usually conducted to compare two or more alternative scenarios, action plans, or policies. [D01721]

 OTOB p271-4
A technique designed to quantify the impact of uncertainty. [D04594]

A process to assess identified threats, i.e. risks, to the success of the project, including risk grading and strategies for mitigation. [D05478]

Risk Analysis and Management for Projects ("RAMP")
A comprehensive framework within which risks can be managed effectively and financial values placed upon them. RAMP aims to achieve as much certainty as possible about a long term and uncertain future. In the case of a new project, the RAMP process covers the project's entire lifecycle, from initial conception to eventual termination. The process facilitates risk mitigation and provides a system for the control of the remaining risks.
Editor's Note: Be aware of the RAMP definition of "Project" and the extent of its life span [D05096]

Risk Analysis Histogram
A view in which the results of risk analysis are displayed as vertical bars, S-curves, or tables against a date scale. [D01722]

Risk Analyst
An individual whose primary task is the identification and evaluation of risks during the risk review. [D05097]

Definitions for page R05: 50

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