Risk Management

Question 1

Risk Management Goals

Answer 1

Risk containment and mitigation, seldom removal. Identify risks, plan against them, and be ready to act when a risk arises to minimize project impact

Question 1

Risk Exposure

Answer 1

The probability and size of potential failure

Question 2

Risk Management Steps

Answer 2

Identify risks and triggers, classify risks, quantify risk exposure, prioritize risks, create a plan, monitor risk triggers, implement mitigation actions, communicate risk status

Question 3

Agile Risk Management Practices

Answer 3

Collaborative planning, customer consultation, daily stand-ups, story and backlog reviews, story estimation, story splitting, spike stories, MVPs, risk burn-down charts, and risk boards

Question 4

Blended Approach

Answer 4

Combine traditional risk management with Agile techniques, tailoring the approach to the project and client needs