SAB7#121 Plan Risk Management

SAB7#121 Plan Risk Management

1. Risk management helps prevent many problems on projects. Effective risk management also helps to increase the probability and positive risk or opportunities.

2. Through risk management the project management can stay in control of the project rather than being controlled by it.

3. The project manager, sponsor, team, customer, other stakeholders and experts may be involved in the Plan Risk Management process to define how risk management will be structured and performed for the project.

4. The Plan Management Risk process answer the question of how much time should be spent on risk management based on the needs on the project.

5. Methodology

   • Defines how you will perform risk management for the particular project.

6. Roles and responsabilities

   • Define Who will do what?

7. Budget

   • The Cost of the risk management process

8. Timing

   • Talks about when to do risk management for the project.

9. Risk categories

10. Organizational process assets

11. Enterprise environmental factors

12. Stakeholder register

13. Project Management plan

14. Project charter

15. Expert judgment

16. Analytical techniques

17. Meetings

18. Risk Management plan

19. Definitions of Probability and Impact

    • The definitions and the probability and impact matrix help standardize the interpretations of risks and also help compare risks between projects.

20. Reporting

    • Describes any report related to risk management

21. Tracking

    • Describes how the risk process will be audited and how information will be documented regarding what happens with risk management activities

22. Stakeholders Tolerances

    • If the stakeholders have a low risk tolerance for cost overruns, that information would be taken into account to rank cost impacts higher than if the low tolerance was in another area.

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