Key Terms and Definitions

“There is nothing either good or bad, but thinking makes it so.”
— William Shakespeare

  • Fact . An event, item of information, or state of affairs existing, observed, or known to have happened, and which is confirmed or validated to such an extent that it is considered ‘reality.’
  • Evidence.
    • A thing or things helpful in forming a conclusion or judgment: The broken window was evidence that a burglary had taken place. Scientists weigh the evidence for and against a hypothesis.
    • Something indicative; an outward sign: evidence of grief on a mourner’s face.
    • Law The documentary or oral statements and the material objects admissible as testimony in a court of law.
  • Hearsay. Unverified, unofficial information gained or acquired from another and not part of one’s direct knowledge.
  • Opinion. A view or judgment formed about something, not necessarily based on fact or knowledge.
  • Truth.  Conforming to fact or actuality;  A statement proven to be accepted or true.
  • Data are facts and statistics collected together for reference or analysis.
  • Assumption. A  thing that is accepted as true or as certain to happen, without proof.
  • Speculation. Ideas or guesses about something that is not known.
  • Conjecture. Inference formed without proof or sufficient evidence.
  • Anecdotal.  Not necessarily true or reliable; based on personal accounts rather than facts or research.
  • Hope.  A feeling of expectation and desire for a certain thing to happen.
  • Theory.  When you have a theory, you have a set of beliefs or principles that might not be proven yet.
  • Experiment.  A test done in order to learn something or to discover whether something works or is true.
  • Risk. A project risk is “an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule schedule, cost, or quality.” Ref: 5th Edition Edition of the PMBOK® Guide.  See also:  Risk Management Presentation
  • Feasibility Study.  Good overview developed at Iowa State “What is a Feasibility Study?”  The other aspect of the study is hiring a consultant that is experienced in the type of project being proposed. Examples related to a Music Venue:

The Terms applied within a context of a County Decision Making Process.  And the Decision Making Process applied to then proposed Maple Leaf Music Venue in July  2017. This was provided to the commissioners prior to their decision to approve the zoning. They expressed no interest and asked no questions.

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