Risk And Issue management Flashcards
What are issues?
Issues are events where, in effect, the project is caught by surprise and needs to respond.
What is risk?
Risk is the potential of a situation or event to impact on the achievement of specific objectives. It is the level of uncertainty that exists
what is risk management?
Risk management is a process that allows individual risk events and overall risk to be understood and managed
What is a typical risk management process ?
Initiate
Identification
Analysis
Response
Closure
risk management plan will required by who and why?
The risk management plan will be an important reference for all stakeholders who require an insight into the risk organisation and control structure, and the specific responsibilities for risk management.
what is risk identification
Risk identification is a creative, divergent process that benefits from the input of a wide range of people using a method that does not restrict or bias their thinking
what is risk identification
Risk identification is a creative, divergent process that benefits from the input of a wide range of people using a method that does not restrict or bias their thinking
once risk identified where is it documented?
Once risks are identified they are documented in the risk register
who are risk owners?
Risk owners are individuals or groups who are best placed to assess and manage the specific risk
What is the final part of the risk management process?
The final part of the management process is to ensure that all risks are closed when they have occurred, they have been successfully mitigated or accepted, or there is no longer a possibility of them occurring
What is a risk register?
A risk register is a document listing identified risk events and their corresponding planned responses.
What is an issue?
An issue is a problem that is now breaching, or is about to breach, delegated tolerances for work on a project or programme
whose support is required to agree on a resolution?
Sponsors
what is the purpose of issue management?
The purpose of issue management is to provide a common process that can be used to identify and document those issues that have occurred and apply an appropriate resolution plan
What are the stages of an issue resolution process ?
- issues is logged into an issue register
- issues are escalated to the sponsor
- actions are assigned to a group or person who can identify, implement and resolve it in a timely manner
- Issues that result in changes to scope or any other part of the baseline plan are progressed through change control
- the issue is tracked from identification to resolution
