Relevance
The appropriatenss of project objectives to the real problems, needs and priorities of the intended target groups and beneficiaries that the project is supposed to address, and to the physical and policy environment within which it operates.
Results
In the EC Logframe Matrix hierarchy of objectives, Results are the tangible products/services delivered as a consequence of implementing a set of Activities. The hierarchy of objectives used by some other donors (and indeed within the context of some EC programmes) refers to these results as 'Outputs'.
Risks
Risk is the probability that an event or action may adversely affect the achievement of project objectives or activities. Risks are composed of factors internal and external to the project, although focus is generally given to those factors outside project management's direct control. See also Assumptions.