Managing Successful Programmes (MSP) Dictionary of Terms

Managing Successful Programmes (MSP®) is a set of principles for managing a program of work provided by the global best practice company Axelos (formally provided by the OGC). MSP is a framework of principles and processes designed to deliver "successful outcomes from organisational change". It is designed to be flexible rather than perscriptive and can be adapted for industry, program type etc. It is used by private and public sector companies to manage and deliver on large change programs. View the Agile Dictionary, ITIL Dictionary. Project Office Dictionary (P30). Full PRINCE2 glossary of terms. See also Risk Management Dictionary and Project Management Dictionary.

A - B - Aggregated risk to Business Operational Stability | C - I - Capability to Issue Resolution Strategy | L - P - Leadership to Proximity | Q - R - Quality to Role | S - V - Senior Responsible Owner to Vision Statement | MSP Acronyms

Definitions from Q - Quality to R - Role

Quality

The totality of features and inherent or assigned characteristics of a product, person, process, service and/or system that bear on its ability to show that it meets expectations or stated needs, requirements or specification.

Quality assurance

An independent check that products will be fit for purpose or meet requirements.

Quality control

The process of monitoring specific project results to determine whether they comply with relevant standards, and identifying ways to eliminate causes of unsatisfactory performance.

Quality Management Strategy

How the programme will achieve the required levels of quality in the way the programme is managed and directed, and how the programme's deliverables will be assessed for 'fitness for purpose'.

Quality management system

The complete set of quality standards, procedures and responsibilities for a site or organisation.

Resource Management Strategy

Description of the resource requirements for the programme and how they will be managed.

Risk

An uncertain event or set of events which, 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.

Download a register of Common Project Risks

Download a list of Construction Project Risks

Risk appetite

An organisation's unique attitude towards risk taking, which in turn dictates the amount of risk that it considers is acceptable.

Risk assessment

The estimation and evaluation of risks (assessing their potential impact).

Risk estimation

The estimation of probability and impact of an individual risk, taking into account predetermined standards, target risk levels, interdependencies and other relevant factors.

Risk evaluation

The process of understanding the net effect of identified threats and opportunities on an activity when aggregated together.

Risk identification

Determination of what could pose a risk; a process to describe and list sources of risk (threats and opportunities).

Risk management

The systematic application of principles, approaches and processes to the tasks of identifying and assessing risks, and then planning and implementing risk responses.

Risk Management Strategy

How the programme will establish and maintain an effective risk management regime on the programme.

Risk Register

A record of all identified risks relating to the programme, including their status and history.

role

A particular set of responsibilities and accountabilities that may be allocated to one or more individuals. In some circumstances, roles may be merged together as long as there is no conflict of interest.

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