Project Management Terminology Starting with “R” – Practical Guide - Part 2

Project Management Terminology (Starting with “R”)- Part 2

21. Return on Investment (ROI)

Definition:
A measure of profitability of an investment.

Simple Meaning:
Kitna profit mila compared to investment.

Example:
New machine se 2 saal me cost recover.

22. Reporting

Definition:
Providing project progress information to stakeholders.

Simple Meaning:
Project ki update dena.

Example:
Weekly progress report to BSP.

23. Recovery Plan

Definition:
Plan to bring delayed project back on track.

Simple Meaning:
Delay ko cover karne ka plan.

Example:
Extra manpower + double shift work.

24. Release

Definition:
Formal handover of project deliverables.

Simple Meaning:
Client ko final handover.

Example:
Commissioned descaling system handover.

25. Retention Money

Definition:
Part of payment withheld until project completion.

Simple Meaning:
Final payment ka kuch hissa rokna.

Example:
5% retention till project completion.

26. Regulatory Compliance

Definition:
Adherence to legal and statutory requirements.

Simple Meaning:
Government rules follow karna.

Example:
Factory Act, safety rules compliance.

27. Reliability

Definition:
Ability of system to perform consistently without failure.

Simple Meaning:
Machine kitna dependable hai.

Example:
Pump running continuously without breakdown.

28. Redundancy

Definition:
Backup system to ensure continuity.

Simple Meaning:
Extra backup arrangement.

Example:
Standby pump in descaling system.

29. Re-baselining

Definition:
Revising project baseline due to major changes.

Simple Meaning:
Original plan ko revise karna.

Example:
Major delay ke baad new schedule baseline set.

30. Resource Histogram

Definition:
Graph showing resource usage over time.

Simple Meaning:
Time vs manpower chart.

Example:
Primavera me manpower loading chart.

31. Risk Threshold

Definition:
Level of risk that is acceptable.

Simple Meaning:
Kitna risk tolerate kar sakte hain.

Example:
2 days delay acceptable but 10 days not acceptable.

32. Risk Appetite

Definition:
Amount of risk an organization is willing to take.

Simple Meaning:
Company kitna risk lene ko ready hai.

Example:
High investment new technology project.

33. Risk Owner

Definition:
Person responsible for managing a risk.

Simple Meaning:
Risk handle karne wala person.

Example:
Safety officer responsible for lifting risk.

34. Resolution

Definition:
Final solution of a problem or issue.

Simple Meaning:
Problem ka final solution.

Example:
Leakage issue resolved by gasket replacement.

35. Resource Utilization

Definition:
Efficiency of resource usage.

Simple Meaning:
Resource kitna effective use hua.

Example:
Crane idle time reduce karna

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