2233747
Description
Mind Map by pmpcertificacion, updated more than 1 year ago
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Created by pmpcertificacion
over 10 years ago
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SAB4#119_Level of Risk Acceptance
- Is a general, high-level description of the acceptable level of risk.
For example, the sponsor is willing to accept little risk to the
schedule on this project.
- Risk Appetites
- Risk Appetites
- It refers to a measurable amount of acceptable
risk. In this case, our sponsor might be said to
be willing to accept schedule risk of up 14 days on this project.
- Tolerance
- Tolerance
- Thresholds
- Is the specific point at which risk becomes unacceptable.
for example, the sponsor will not accept a risk of the
schedule being delayed 15 days or longer.
- Is the specific point at which risk becomes unacceptable.
for example, the sponsor will not accept a risk of the
schedule being delayed 15 days or longer.
- Risk appetites, tolerances and
thresholds vary depending on the
individual or organiztion and the risk
area. For example, an organization may
have more tolerance for cost-related
risks than for risk that affect customer
satisfaction or their reputation in the
marketplace.
- Risk areas can include any project
constraints (scope, time, cost, quality,
etc) as well as reputation, customer
satisfaction, and other intangibles
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