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Project Risk Management > Control Risks > Flashcards

Control Risks Flashcards

Monitoring and Controlling

1
Q

What is the purpose of Control Risks?

A

Process of implementing risk response plans, tracking identified risks, and evaluating risk process effectiveness throughout the project.

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2
Q

What are the tools and techniques to Control Risks?

A

1) Risk Reassessment, 2) Risk Audits, 3) Variance and Trend Analysis, 4) Technical Performance Measurement, 5) Reserve Analysis, 6) Meetings

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3
Q

What is Risk Reassessment?

A

Identify and reassess risks as the project proceeds.

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4
Q

What is Risk Audit?

A

Examine and document the effectiveness of risk responses.

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5
Q

What is Variance and Trend Analysis?

A

Compare planned results to actual results.

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6
Q

What is Technical Performance Measurement?

A

Compare planned technical results to the actual results.

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7
Q

What is Reserve Analysis?

A

Compare the amount of contingency reserves left to the amount of risk remaining.

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8
Q

What is Workaround?

A

Used only when an unidentified (unknown-unknown) risk event occurs.

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Project Risk Management (6 decks)

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