Dormancy Notes: Definitions & Explanations PDF | Download eBooks
Study Dormancy lecture notes PDF with project management definitions and explanation to study “What is Dormancy?”. Study dormancy explanation with project management terms to review project management course for online MBA programs.
Dormancy Definition:
Dormancy is the period of time that may elapse after a risk has occurred before its impact is discovered.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Dormancy Notes:
In addition to the chances of occurrence and the effect of potential risks on project objective, some other characteristics of the risks can also be considered for assessment. One of these characteristics is dormancy. Dormancy refers to the time period between the risk occurrence and risk impact. Sometimes, a risk occurs during the project but does not affect any of the project's objectives. This type of risk must not be ignored. This is due to the fact that the impact of the risk sometimes emerges after a certain time period. So, when a risk occurs, corrective actions must be established so that the impact of the risk be eliminated before the risk actually affects the project. A short time period refers to low dormancy.
Keep Learning with Project Management Notes
What is Cost Management Plan?
A very necessary part of project management is the estimation of costs associated with the project activities and tasks. A ...
What is Issue Log?
Issues and problems during a project are inevitable. As different people work together, or different components of the project interact, ...
What is Strategic Impact?
Different characteristics are associated with project related risks. A project manager usually identifies the probability of a risk to occur ...
What is Procurement Strategy?
When it is decided using make or buy analysis that the work must be accomplished through outside sources, a proper ...
What is Project?
A project is a temporary effort which aims to achieve a specific objective by performing a series of tasks with ...
What is Project Calendar?
A project is a time-specific endeavor. Working days, shifts and hours are specified for the project activities. A document that ...