In the context of PMP (Project Management Professional) and project management in general, assumptions refer to factors or conditions that are considered to be true, real, or certain but have not been verified or confirmed. Assumptions are an integral part of project planning and risk management, as they help project managers make informed decisions in the absence of complete information.

Here are some key aspects of assumptions in PMP:

1. Unverified Information: Assumptions are typically based on information or data that has not been fully validated or verified. Project managers often rely on past experience, expert judgment, or available information to make assumptions about various aspects of the project, such as resource availability, stakeholder behavior, or market conditions.

2. Risk Management: Assumptions are closely tied to project risks. When making assumptions, project managers should be aware that if these assumptions turn out to be incorrect, they can lead to project risks and issues. Identifying and documenting assumptions is a crucial step in the project risk management process, as it allows project teams to monitor and address potential risks associated with these assumptions.

3. Assumption Log: PMP recommends maintaining an Assumption Log as part of project documentation. This log records all assumptions made during the project planning phase, along with their potential impact on the project. It provides a central repository for tracking and managing assumptions throughout the project lifecycle.

4. Contingency Planning: Assumptions can influence project planning and decision-making. Project managers often develop contingency plans or alternative approaches in case assumptions do not hold true. These contingency plans help mitigate the potential impact of incorrect assumptions on the project.

5. Communication: Effective communication of assumptions is critical within the project team and with stakeholders. Clearly documenting and sharing assumptions with relevant parties ensures that everyone understands the basis for project decisions and can proactively address any deviations from the assumed conditions.

Examples of project assumptions might include:

• Assuming that a certain resource will be available when needed.
• Assuming that a specific technology or component will perform as expected.
• Assuming that market demand for a product will remain constant.
• Assuming that a regulatory approval will be granted within a certain timeframe.
• Assuming that stakeholders will provide timely feedback and approvals.