What is an Assumptions Log? Project Management in Under 5

The video explains the concept of an assumptions log, a tool used in project management to track assumptions made during a project. It highlights the importance of recording assumptions to manage risks and ensure project success. The video outlines what to include in an assumptions log, such as unique IDs, dates, categories, and confidence ratings. It emphasizes the relationship between assumptions and risks, advising on how to manage and review assumptions effectively.

What is an assumptions log and why is it important in project management?

How do assumptions relate to risk in a project?

What is the significance of keeping an assumptions log simple?

What are the key components that should be included in an assumptions log?

What actions should be taken if an assumption is found to be incorrect?