Project Management Glossary
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Rapport: a relation of harmony, conformity, accord, or affinity

Referent power: getting people to do things based on an individual’s personal charisma

Reliability: the ability of a product or ser vice to perform as expected under normal conditions without unacceptable failures

Request for Proposal (RFP): a document used to solicit proposals from prospective suppliers

Request for Quote (RFQ): a document used to solicit quotes or bids from prospective suppliers

Required rate of return: the minimum acceptable rate of return on an investment.

Reserves: dollars included in a cost estimate to mitigate cost risk by allowing for future situations that are difficult to predict

Residual risks: risks that remain after all of the response strategies have been implemented

Resource histogram: a column chart that shows the number of resources assigned to a project over time

Resource leveling: a technique for resolving resource conflicts by delaying tasks

Resource loading: the amount of individual resources an existing schedule requires during specific time periods

Resource planning: determining what resources (people, equipment, and materials) and what quantities of each resource should be used to perform project activities

Responsibility assignment matrix (RAM): a matrix that maps the work of the project as described in the WBS to the people responsible for performing the work as described in the OBS

Return on investment (ROI): income divided by investment

Reward power: using incentives to induce people to do things

Rework: action taken to bring rejected items into compliance with product requirements or specifications or other stakeholder expectations

Risk: the possibility of loss or injury

Risk acceptance: accepting the consequences should a risk occur

Risk avoidance: eliminating a specific threat or risk, usually by eliminating its causes

Risk events: specific circumstances that may occur to the detriment of the project

Risk factors: numbers that represent over all risk of specific events, given their probability of occurring and the consequence to the project if they do

Risk identification: determining which risks are likely to affect a project and documenting the characteristics of each

Risk management plan: a plan that documents the procedures for managing risk throughout the project

Risk management planning: deciding how to approach and plan the risk management activities for a project, by reviewing the project charter, WBS, roles and responsibilities, stakeholder risk tolerances, and the organization’s risk management policies and plan templates

Risk mitigation: reducing the impact of a risk event by reducing the probability of its occurrence

Risk monitoring and control: monitoring known risks, identifying new risks, reducing risks, and evaluating the effectiveness of risk reduction throughout the life of the project

Risk response planning: taking steps to enhance opportunities and reduce threats to meeting project objectives

Risk symptoms or triggers: indications for actual risk events

Risk transference: shifting the consequence of a risk and responsibility for its management to a third party

Risk utility or risk tolerance: the amount of satisfaction or pleasure received from a potential payoff

Risk-averse: having a low tolerance for risk

Risk-neutral: a balance between risk and payoff

Risk-seeking: having a high tolerance for risk

Robust design methods: methods that focus on eliminating defects by substituting scientific inquiry for trial-and-error methods

Rough order of magnitude (ROM) estimate: a cost estimate prepared very early in the life of a project to provide a rough idea of what a project will cost

Runaway projects: projects that have significant cost or schedule overruns.

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