Risk Management Flashcards
Risk Management
11.1 Plan Risk Management
Planning
Determine the “plan” for how to perform risk management activities. How will we manage and control them?
Risk Management
11.2 Identify Risks
Planning
Brainstorm & determine risks which may affect the project
Risk Management
11.3 Perform Qualitative Risk Analysis
Planning
Filter & prioritize risks based upon their probability of occurrence & impact
Risk Management
11.4 Perform Quantitative Risk Analysis
Planning
Numerically analyze the impact of risks on the project’s goals. This is expensive and should be completed only on the greatest risks (severity & impact)
Risk Management
11.5 Plan Risk Responses
Planning
Develop strategies and action plans to address the prioritized project risks (and oppertunities)
Risk Management
11.6 Implement Risk Resposes
Executing
Execute risk response
Risk Management
11.7 Monitor Risks
M&C
Track and monitor executed risk responses, the effectiveness of risk management activities, and identify new risks
