project management glossary

probability of acceptance

 That percentage of inspection lots expected to be accepted when the lots are subjected to a specific sampling plan.

probability of occurrence

 The likelihood of something happening. One of three factors in the determination of project risk quantification, namely: Risk Event; Risk Probability; and Amount at Stake.

problem

 A question raised for inquiry, consideration, or solution. An intricate unsettled issue which is a source of perplexity, distress, or vexation, and that may be difficult to understand or accept.

problem analysis report (par)

 A report made by the responsible manager to explain a significant cost or schedule variance, its probable impact on the project, and the corrective actions to be taken to resolve the problem(s).

problem resolution

 The interaction between the project manager and an individual team member with the goal of finding a solution to a technical or personal problem that affects project accomplishment.