Glossary of Project Management - R

R

• Reengineering is radical redesign of an organization's processes, especially its business processes. Rather than organizing a firm into functional specialties (like production, accounting, marketing, etc.) and considering the tasks that each function performs; complete processes from materials acquisition, to production, to marketing and distribution should be considered. The firm should be re-engineered into a series of processes.

• Resources are what is required to carry out a project's tasks. They can be people, equipment, facilities, funding, or anything else capable of definition (usually other than labour) required for the completion of a project activity.

• Risk is the precise probability of specific eventualities.

• Risk management is a management specialism aiming to reduce different risks related to a preselected domain to the level accepted by society. It may refer to numerous types of threats caused by environment, technology, humans, organizations and politics.

• Risk register is a tool commonly used in project planning and organizational risk assessments.