Uncertainty Lack of knowledge of future event s. See also Project Risk . The possibility that event s may occur which will impact the project either favorably or unfavorably. Uncertainty gives rise to both opportunity and risk .
Uncertainty is a distinct characteristic of the project environment .
Uncertainty A condition, event , outcome , or circumstance for which the extent, value , or consequence is not predictable. Such action may range from the provision of additional funding to cover remedial actions, to temporary suspension, to aborting the whole project. Under-allocation Assigning a resource to work fewer hours than the resource is available. The amount by which an activity , piece of work or something produced falls below its corresponding estimate , usually of cost . A mutual agreement not formal ly entered into but in some degree binding on each side.