Risk Management Professional (PMI-RMP)® Cert Guide

Glossary of Key Terms

A

acceptance (opportunity) An opportunity strategy whereby no proactivity is involved, but the opportunity is acknowledged and, if it comes to pass, accepted and welcomed.

accuracy The degree to which a metric is close to the target value.

active acceptance (threat) A threat strategy where no action is taken prior to risk realization, except the documentation and communication of requisite action when or if the threat is realized.

actual cost The amount of money spent to accomplish a work package or a series thereof. Actual cost is calculated and accrued when finance or accounting can determine the amount spent. This is the value associated with cost calculations in earned value management system calculations. Also known ...