Page 101 - VYSNOVA PROGRAM MANAGEMENT GUIDE V1.1

ANNEX K: Glossary

Project planning is usually the longest phase of the project management
life cycle. It involves determining cost, schedule, and scope baselines and
using these to create a detailed roadmap for executing project activities
Project planning and producing deliverables.
Broadly, a Stakeholder is any party which may be affected by a project. In
project management, the term usually refers to parties with an interest in
Project stakeholders the successful completion of a project.
Each year the Controller establishes Indirect Rates called Provisional Rates
that are approved by DCAA and administrated by DCMA to bill customers.
Provisional Rates: These consist of Fringe, Overhead, and G&A. The rates never stay consistent
each year but adjust depending on work awarded and cost charged to the
company.
In project management, quality is a measure of a deliverable’s degree of
excellence. Quality may also refer to a clearly defined set of stakeholder
Quality requirements by which results are assessed.
A set of practices designed to monitor processes and provide confidence
that result in deliverables meeting quality expectations. It may involve
Quality assurance quality audits and the stipulated use of best practices.
The use of standardized practices to ensure that deliverables meet
stakeholder expectations. It involves not only the definition and
identification of unacceptable results but also the management of
Quality control processes to optimize results.
A set of stipulations regarding project deliverables. They are a key element
of the project scope and explain in detail the stakeholders’ expectations
Requirements for a project.
An activity that involves identifying possible risks to a project and
Risk assessment examining how these risks, if they occur, would affect objectives.
Risk avoidance focuses on avoiding threats that can harm an organization,
its projects, or assets. Unlike risk management, which is geared toward
mitigating the impact of a negative event, risk avoidance seeks to address
Risk avoidance vulnerabilities and make sure those events do not occur.
A subset of management strategies that deals with identifying and
assessing risks and acting to reduce the likelihood or impact of negative
risks. Risk managers seek to ensure that negative risks do not affect
Risk management organizational or project objectives.
Risk mitigation involves decreasing the probability of a negative risk
occurring, as well as protecting project objectives from a negative risk’s
Risk mitigation impact.
A risk owner is responsible for determining and enacting appropriate
Risk owner responses to a specific type of risk.
Risk transference involves handing ownership of risk to a third party who is
typically specialized and better able to address the risk or to withstand its
Risk transference impact.
A comprehensive list of project activities and milestones in logical order,
Schedule with start and finish dates for each component.
The scope of a project constitutes everything it is supposed to accomplish
Scope to be deemed successful.
SF 1420 standard form: biographical data sheet
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