Project Risk and Cost Analysis

Glossary

Actuary A person who analyzes business risk (primarily financial) using mathematical and statistical tools, most often found in the insurance industry.

Acceptance A risk management strategy involving no action whatsoever unless the risk actually occurs.

Assumptions For planning purposes, assumptions are things considered to be true, real, or certain, without actual proof or demonstration. For example, it might be assumed that organizational priorities will not shift in the next six months, or that the work is technically feasible even though it has not been done before. Assumptions are often necessary, but carry risk.

Authority The right to make decisions, spend funds, allocate resources, or approve choices. Your authority ...