This is an A-Z glossary of terms, from the 2009 edition. PRINCE2® is a registered trade mark of AXELOS Limited. <
impact (of risk)
The result of a particular threat or opportunity actually occurring, or the anticipation of such a result.
The exposure arising from a specific risk before any action has been taken to manage it.
The period from when the Project Board authorizes initiation to when they authorize the project (or decide not to go ahead with the project). The detailed planning and establishment of the project management infrastructure is covered by the Initiating a Project process.
A relevant event that has happened, was not planned, and requires management action. It can be any concern, query, request for change, suggestion or off-specification raised during a project. Project issues can be about anything to do with the project.
A register used to capture and maintain information on all of the issues that are being managed formally. The Issue Register should be monitored by the Project Manager
on a regular basis.
A report containing the description, impact assessment and recommendations for a request for change, off- specification or a problem/concern. It is only created for those issues that need to be handled formally.
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