(highlight:: Assumptions are factors about the project that you expect to go a certain way for the project to be successful.
Dependencies are situations where forces external to your project can impact or be impacted by your project from a scope, schedule or cost perspective.
Unplanned potential problems are things that could happen to impact scope, schedule or budget—but weren’t defined at the project’s outset.
Managed risks are comprised of assumptions, dependencies, previously identified risks, and unplanned potential problems.
Unplanned realized problems are scope, schedule and budget problems that can no longer be mitigated and need to be addressed as an issue.
Managed issues are comprised of managed risks that couldn’t be mitigated, and unplanned realized problems.)
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Most times, a project charter will include a list of project assumptions. Too often, though, assumptions are documented at the project’s outset without any means of managing to the assumption. I’ve seen many project managers use an assumption list as a “cover yourself” tactic; if something goes wrong, the PM can pull out the assumption list with an “I told you so!”
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- [note::The assumptions log is a meant to MANAGE assumptions, not just identify and document them.]

If it’s worthwhile to call something out as an assumption, then it’s worthwhile to manage it as a risk
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Assumptions shouldn’t be about the normal course of doing things, like assuming that everyone comes into work each day. They should be about extraordinary things that can materially impact scope, schedule or budget.
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