Project Risk Management
What is risk?
According to PMI, Risk refers to an uncertain event that has positive or negative effects on project objectives.
Risk Management Plan includes:
tools and approaches to be used for
Risk Management
Identification and assignment of resources for risk management
Risk categories
Risk Probabilities and impacts
The format of risk reporting and tracking
Processes of Risk Management:
Risk Identification
Risk Analysis
Risk Response Planning
Risk Monitoring and Control
Risk Identification Process:
Output of the Risk Identification Process:
Risk Register – a list of identified risks
A list of the root causes of the risks
An initial list of potential responses
Risk Analysis
Output of the Risk Identification Process is used as the input.
Qualitative Risk Analysis involves: prioritization of risks based on a probability and impact matrix for each objective
Quantitative Risk Analysis involves:
Assessing the probabilities of meeting each project objective
Prioritization of the risks based on their total effect on the overall project objectives.
Risk Response Plan
Based on the priority for each risk:
Take no action
Take action if some events happen
Take action
From: http://sitestree.com/?p=4803
Categories:PMP – Project Management
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Post Data:2007-06-08 07:31:43
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