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E – Project Management Terms Earned value management (EVM) A way to measure project performance, and is commonly used in government projects. Eventchain diagram This is a visual way of demonstrating the relationship between events and tasks and how they impact one another. Learn more about risk management here.
Accept: A response to a project risk where the project manager accepts the risk and takes no action to evade it, i.e. 'accepting' the risk. This is usually in case of risks that are unlikely to occur or minor enough so as to not affect the project's outcome. A project sponsor can request an audit.
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