Glossary of Project Management Terms
R
ReliabilityThe probability that an item will continue to function at customer expectation levels at a measurement point, under specified environmental and duty cycle conditions.Reliability Analysis
Reliability Analysis is a predictive tool used to estimate the "life" of a product. This is usually expressed in terms of hours as mean time between failure (MTBF).Request for proposal
A request for proposal (RFP) is a document prepared by a customer to solicit proposals from potential providers. The Request For Proposal consists of a Solicitation Letter, Instructions to Bidders, ...Requirement
A description of a condition or capability to which a system must conform; either derived directly from user needs, or stated in a contract, standard, specification, or other formally imposed ...Return on Investment
...RFQ
RFQ stands for Request for Quotation See Request for proposalRisk analysis
Risk Analysis is a technique designed to quantify the impact of uncertainty. It is usually conducted at the begining of a project or to compare two or more alternative scenarios, action ...ROI
see Return on Investment, Internal rate of returnRoot Cause
A root cause is an antecedent source of a defect such that if it is removed, the defect is decreased or removed itself.Root cause analysis
A study of original reason for nonconformance with a process. When the root cause is removed or corrected, the nonconformance will be eliminated. see also: FMEARel|
Other resources
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Project Life Cycle
The Four Basic Phases of a project life cycle
Read more: Project Life Cycle -
Project Teamwork
Project management resources - Project Teamwork
Read more: Project Teamwork
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