A prioritized list of criteria that the project product must meet before the customer will accept it, i.e. Measurable definitions of the attributes that must apply to the set of products to be acceptable to key stakeholders.
A disciplined product development concept that enables controlled flexibility in producing new services / products or features. (Scrum, XP, Kanban are some examples)
Analogous estimating means using the actual duration of a previous, similar activity as the basis for estimating the duration for a future activity. This is generally used when there is limited amount of detailed information about the project. It is a form of expert judgment.
Is a measurable improvement resulting from an outcome, which contributes towards one or more organisational objectives.
The justification for an organizational activity(project) which typically contains costs, benefits, risks and timescales, and against which continuing viability is tested.
Behavior that does not conform to the Acceptance Tests documented in the relevant US&AT.
The complete set of outputs from the project(s)required to deliver an outcome.
The change resulting from the operational staff making use of the capability (output) delivered by the project(s).
The product or service that is delivered by the project. At the beginning of a project this can be defined in a document called the project product description.
An uncertain event or set of events that, should it occur, will have an effect on the achievement of objectives. A risk is measured by a combination of the probability of a perceived threat or opportunity occurring, and the magnitude of its impact on objectives.
Accept (risk response)
A risk response to a threat where a conscious and deliberate decision is taken to retain the threat, having discerned that that it is more economical to do so than to attempt a risk response action. The threat should continue to be monitored to ensure that it remains tolerable acceptance.
Avoid (risk response)
A risk response to a threat where the threat either can no longer have an impact or can no longer happen.