Lecture 3 Nine phases of risk management Flashcards
1
Q
Nine Phases of Risk Management
A
define
focus
identify
structure
clarify ownership
estimate
plan
manage
1
Q
Define
A
Project Well
2
Q
Focus
A
Begin to plan the risk management process as a project in its own right
3
Q
Identify
A
Assess the specific sources of risk at the outset of the project
4
Q
Structure
A
Review and refine the manner in which we have classified risks for the project
5
Q
Estimate
A
Develop a reasonable estimate of the impact on the project of both the identified risks and the proposed solutions
6
Q
Evaluate
A
Critically evaluate the results of the estimate phase to determine the most likely plan for mitigation potential risk
7
Q
Plan
A
Produce a risk management plan
8
Q
Manage
A
Monitor actual progress with the project and associated risk management plans
