- Industry: Government
- Number of terms: 5883
- Number of blossaries: 0
- Company Profile:
Documented direction to perform an activity that can reduce the probability of negative consequences associated with project risks
Industry:Business services
A term used to represent all executed agreements between the owner and contractor; any general, supplementary, or other contract conditions; the drawings and specifications; all bidding documents, less bidding information, plus pre-award addenda issued prior to execution of the contract and post-award Change Orders; and any other items specifically stipulated as being included in the contract documents, which collectively form the contract between the contractor and the owner.
Industry:Business services
A risk response planning technique that shifts the impact of a threat to a third party, together with ownership of the response.
Industry:Business services
(1) Any contractor having a contract directly with the owner.
Industry:Business services
The document that describes how a specific contract will be administered, and can include items such as required documentation delivery and performance requirements. A contract management plan can be formal or informal, highly detailed or broadly framed, based on the requirements in the contract. Each contract management plan is a subsidiary plan of the project management plan.
Industry:Business services
A defined function to be performed by a project team member, such as testing, filing, inspecting, and coding.
Industry:Business services
The likelihood of occurrence. In the context of project risk, a measure of the likelihood of a risk occurring.
Industry:Business services
The cost deficit after determining the difference between the original contract price and the final completed cost, including all adjustments by approved change order.
Industry:Business services
An analytical technique used to determine the basic underlying reason that causes a variance or a defect or a risk. A root cause may underlie more than one variance or defect or risk.
Industry:Business services
A common way to determine whether a risk is considered low, moderate, or high by combining the two dimensions of a risk: its probability of occurrence, and its impact on objectives if it occurs.
Industry:Business services
