Managing risk

Managing risk

1. risk managment process

   • risk identification
     • analyze the project to identify
       • souces of risk
     • RBS
     • risk profile
   • risk assessment
     • assess risk in terms of
       • severity of impact
         • risk severity matrix
       • likelihood of occuring
       • contollability
     • scenario analysis
   • risk response development
     • develop a estrategy to reduce possible damage
     • develop contingency plan
     • mitigating risk
       • reduce the likelihood that the event will occour
       • reduce the impact of the event
     • avoiding risk
     • tranferring risk
     • retainign risk
   • risk response control
     • implement risk strategy
     • monitor and adjust plan for new risk
     • change management

2. opportunity managment

   • response to an opportunity
     • Exploit
     • share
     • enhace
     • accept

3. contingency planning

   • schedule risk
   • cost risk
   • funding risk

4. contingency funding and time buffers

   • cover project risks
   • budget reserves
   • management reserves
   • time buffers

5. change control managment

   • report
   • controlling
   • recording
   • changes in the proect baseline

6. risk

   • uncertain envent
     • positive or negative effect on project