Managing risk chapter 7

Managing risk chapter 7

1. Risk Management Process

   • Project life cycle
   • The risk management
     • Risk indentification
     • Assessment
     • response development
     • control

2. Risk identification

   • Process
     • technical
     • External
     • Organistional
     • Project management
     • The risk Breakdown structure
     • Risk profile
     • Process
       • Customer
       • Sponser
       • Sub Contractor
       • Vendor
       • Other stakeholder

3. Risk assessment

   • potential Risk
   • Scenario analysis
     • probability of the event
     • Impact of the event
     • analysis Process
       • Very unlikely
       • Almost certainty
     • Relative scale
     • Risk assessment matrix
       • Likelihood
       • Impact
     • risk severity matrix
     • FMEA
       • Impact
       • Probability
       • Detection
     • PERT

4. Risk Response Development

   • Mitigating Risk
     • Reduce The likelihood
     • reduce the impact
   • Avoiding Risk
   • transferring Risk
   • Accept Risk

5. Contingency Planning

   • risk response
     • risk event
     • response
     • Contingency plan
     • Trigger
   • technical risk
   • schedule risk
   • Cost risk
   • Funding risk

6. Opportunity Management

   • Exploit
   • share
   • Enhance
   • Accept

7. Contingency funding and time buffer

   • Budget reserve
   • management reserve
   • contingency fund
   • Time buffers
   • risk response control

8. change control management

   • Scope change
   • Implementation of contingency plan
   • reporting
   • controlling
   • recording changes
   • sample change