69- Uncertainty Performance Domain

Flashcards covering key concepts related to uncertainty and risk management in project management.

Uncertainty

A state of not knowing or unpredictability in project outcomes.

Risk

The probability that an event will positively or negatively affect project objectives.

Volatility

The presence of rapid change or fluctuations in the project environment.

Ambiguity

Uncertainty associated with not being aware of current or future conditions.

Proactive Response

Taking initiative to explore and respond to uncertainties before they affect the project.

Complexity

The state of having many interconnected parts that may lead to unpredictable outcomes.

Reserves

Funds or time built into a project budget or schedule to manage uncertainties.

Threats

Potential negative events that can impact project delivery.

Opportunities

Potential positive outcomes that arise from uncertainties in a project.

Interdependence of Variables

The relationship among different elements of a project that can affect one another.