Project Risk Management

(Level of difficulty:  9 /10)

 

Project Integration Management Processes	Process Group
Risk Management	Planning
Risk Identification	Planning
Qualitative Risk Analysis	Planning
Quantitative Risk Analysis	Planning
Risk Response Planning	Planning
Risk Monitoring and Control	Monitoring and Controlling

Risk Management Planning

	How to plan to manage Risk activities
	Risk Probability and Impact
	Roles and Responsibilities
	Risk Categories: Internal, External, Known & Unknown
	Risk Management Plan

 

Risk Identification

	Risk Identification Tools: - Brainstorming - Delphi Method - Interviewing - SWOT
	Risk Register

 

Qualitative Risk Analysis

	Probability and Impact Matrix
	Risk Data Assessment
	Risk Urgency Assessment

 

Quantitative Risk Analysis

	Monte Carlo Analysis (simulation technique)
	Decision Tree
	Sensitivity Analysis
	Estimated Monetary Value

 

Risk Response Planning

	Risk Avoidance
	Risk Acceptance
	Risk Transference
	Risk Mitigation
	Take note of Residual Risk and Secondary Risk

 

 

Risk Monitoring and Control

	Workarounds
	Risk Audits
	Risk Reassessment and Status Meeting