PMF06052014 Flashcards
IDENTIFYING RISK
Q. If you don’t ___ for how you deal with them, you ended up putting up fires, which can cause project time and money and increase the pressure on your people
plan
IDENTIFYING RISK
Q. Every project faces ____
Risk
IDENTIFYING RISK
Q. A ____ is the tool you use to plan for the risk you might encounter
Risk Management Plan
IDENTIFYING RISK
Q. With the Risk Management Plan in place, you already decided how to ____ when risk become reality
Respond
IDENTIFYING RISK
Q. So you are ready to make informed and prudent ____
Decision
IDENTIFYING RISK
Q. To build Risk Management Plan, first ____ your project faces
Identify the risk
IDENTIFYING RISK
Q. Risk you are aware of are called ___
Known Unknowns
IDENTIFYING RISK
Q. Risk that can be ____ such ad cancelled flights
Predicted
IDENTIFYING RISK
Q. To help you get started, here are some examples of things that can introduce risks to projects:
___ might not work the way it was supposed to, cost more than you expect, or not show up when you need it
Technology
IDENTIFYING RISK
Q. ____located in different areas can increase risk, such as delays due to time zone differences, miscommunication due to different languages, or cultural differences
Team members
IDENTIFYING RISK
Q. Lack of teamwork because remote team members cannot develop effective ____
Working relationship
IDENTIFYING RISK
Q. Lack of ___ such as specifics on deliverables, due dates, or who will work on your project, can lead to all sorts of problems
Details
IDENTIFYING RISK
Q. Limited ___ such as needing people with rare skills, increase risk because you don’t have alternatives if the problem arises
Options
IDENTIFYING RISK
Q. Ask your ____. Work everyone on your ____ to identify risks
Team
IDENTIFYING RISK
Q. Talk to the ___ from different parts of the project about the risk they foresee. What risk do you predict?
Experts
IDENTIFYING RISK
Q. Ask ____ on the project what they think
Key people
IDENTIFYING RISK
Q. What problems have you dealt with in the ____
Past
IDENTIFYING RISK
Q. Ask other project managers about risks from similar ____
Projects
IDENTIFYING RISK
Q. Fill out a ____ with what you know about each risks you identify
Risk Information Sheet
IDENTIFYING RISK
Q. ____ specifics about the risk (for example, which tasks are affected, what objectives are endangered, what the consequences are, and so on)
Document
IDENTIFYING RISK
Q. Up until now, we’ve covered identifying risks, we can ___ but what do you do about the risk you cannot foresee?
Anticipate
IDENTIFYING RISK
Q. What about the risk you cannot ___
Predict
IDENTIFYING RISK
Q. They are called ____ or unpredictable risks
Unknown unknowns
IDENTIFYING RISK
Q. These risks come from situations that are so out of this world that they never occur to you
Unknown unknowns
IDENTIFYING RISK
Q. For example, prior to the invention of personal computers, manufacturers of typewriters probably didn’t foresee ___ to their business
Risk
IDENTIFYING RISK
Q. Because you can’t identify these risk, you handle them by setting aside ___ for dealing with them like having an insurance policy
Contingency funds
IDENTIFYING RISK
Q. ____are commonly used method for responding to small risks and the unknown unknown risks you cannot foresee
Contingency funds
IDENTIFYING RISK
Q. Reserve money and/or time , set aside for ____
Risk
IDENTIFYING RISK
Q. The question is, how much should you ___
Set aside
IDENTIFYING RISK
Q. Many companies use a percentage of the project budget but the percentage used is typically based on ___
Past experiences
IDENTIFYING RISK
Q. Now that you identified risks your project may have, you need to ____ those risks and determine how you plan to respond to them if they occur
Evaluate
