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Uncertainty is embedded in many aspects of project, program and portfolio management. It is present in decision making ...part of project management but also a part of the technical implementation of a project.

... to extreme poverty, inequality and climate change by 2030. In the pursuit of reaching these goals, it is inevitable for business to take action. One ess ...the total global resources, 40% of global energy consumption and up to 30% of the total global greenhouse gases. Furthermore, the construction industry i

... the states of nature, subjective probability estimates for the occurrence of each state can be assigned. In such cases, the problem is classified as dec ...name="Barros"> R.C. Barros, A. de Carvalho, A.A. Freitas, Automatic Design of Decision-Tree

...s a big challenge. Risks are quantified by using likelihood or probability of an event to occur and its impact on the outcome or situation. Risks then ca ...nce and challenges that are faced during risk quantification, applications of risk quantification and limitations or new challenges are analyzed briefly

...tigated and determined, the potential risk responses within the approaches of insuring against, mitigating, avoiding, accepting and externalizing the ris One tool to help providing factual justification for the treatment of each risk and to establish an overview is the '''decision tree'''. <br>

...ram or project, bringing ideas from concept to launch. Stage-Gate consists of five different stages<ref name="Stage"/>: ... they can kill the project<ref name="Stage"/>. This is one of the benefits of the Stage-Gate process, which in the long run will assure that the company

...IMS's (Industrial Marketing Solutions) commercial advertising the benefits of investing in conducting a feasibility study.|frame}} ...ence a FS is an optional first stage of a project, where all major aspects of pursuing a given project are studied on a high level.

...usually involving both intuition and reasoning. It is important to be wary of impulsive reactions to a situation, since hasty decisions may have big impa ...capable of making any kind of decision. Thus, there has been defined a set of decision-making skills which will help groups or individuals to choose the

... one is an alternative method for assessing a change project’s chance of success, where the other one is a risk evaluation tool. ...ended result. A conclusion McKinsey reached when they did a survey in 2008 of 3,199 executives around the world <ref name=McKinsey />. In an ever growing

...the stakeholders early in the project or phase and to analyze their levels of interest, their individual expectations, as well as their importance and in The expectancy theory is introduced to establish basic understanding of expectations.

...enced by project objective. The project success depends on agreeable level of risk tolerance and early risk management planning. ...hree stakeholder groups rarely have the same view on the possible outcomes of a project. The attitude towards risk tolerance varies depending on risk cha

...e risk management process and therefore, important to ensuring the success of a project. </div> ...range of possible outcomes". In general, "risk quantification is a process of evaluating the risks that have been identified and developing the data that

...usually involving both intuition and reasoning. It is important to be wary of impulsive reactions to a situation, since hasty decisions may have big impa ...capable of making any kind of decision. Thus, there has been defined a set of decision-making skills which will help groups or individuals to choose the

'''Impact''' and '''probability''' are the two main components of [[Risk analysis]]. Looking at impact versus probability is common in order ...organization as proper management increases the likelihood for the success of a project <ref name=" Winch " />. Risk management involves identifying poss

...oject efficiency and allow for monitoring progress to determine the status of the project. <ref name=Kerzner>Harold, Kerzner, Project Management Metrics, ...board should be well presented with necessary data to be an efficient mean of communication <ref name=Few>Stephen, Few, Information Dashboard Design, 200

...8-0-11-331294-8 </ref> <ref name=" Managing Successful Projects "> Office of Government Commerce (2009). Managing Successful Projects with PRINCE2™. T ... bond. Department of Electrical and Electronic Engineering, The University of Hong Kong, Hong Kong </ref>. In this article is discussed different attribu

...ormed better by different personality types, and recognises the importance of having well-defined project management team structure with defined roles an ...erformance, only continuous effort will lead to this. In the final section of the article, the most relevant annotated bibliography is described.

[[File:Sponsor8.png|thumb|400px|'''Figure 1''' - Roles of a Project Sponsor, based from PMI® Global Congress 2006]] ...rticle is defining the role and responsibility and identify the importance of a Project Sponsor in a project.

....com/watch?v=ZZZZRCNTDMc|350|right|Video 1: Introduction to the definition of Program Manager|frame}} ...e="adv">.F.John Reh. November 26, 2017, ''‘The Role and Responsibilities of a Manager’'' [https://www.thebalance.com/what-is-a-manager-2276096]</ref>

...ality Press.''' - Step-by-step approach for implementing FMEA and overview of phases the method is applicable to. Also includes ISO references and Six Si ...roduct and process failures. The tool is often applied in the early stages of a project, but can be used throughout in different variations.