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Project Management, PMI Approach (PMP) Project Risk management

References : Book: PMP in Depth by P. Sanghera Book: The PMP Exam, How to Pass on Your First Try Project Management Lessons in Undergraduate Study. Just E.T.C for Business, Education, Technology, and Entertainment Solutions.

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Project Management, PMI Approach (PMP) Project Risk management

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  1. References: Book: PMP in Depth by P. Sanghera Book: The PMP Exam, How to Pass on Your First Try Project Management Lessons in Undergraduate Study Just E.T.C for Business, Education, Technology, and Entertainment Solutions Project Management, PMI Approach (PMP)Project Risk management sayed@justetc.net, www.justetc.net Sayed Ahmed BSc. Eng. in CSc. & Eng. (BUET, Bangladesh) MSc. in CSc. (University of Manitoba, Canada) http://sayed.JustEtc.net http://www.JustETC.net

  2. References & Sources • Book: PMP in Depth by P. Sanghera • Read on 2007 • Book: The PMP Exam, How to Pass on Your First Try • Read on 2007 • Project Management Lessons in Undergraduate Study • Articles from the Internet • Originally created these notes back on 2007 sayed@justetc.net, www.justetc.net

  3. Project Risk Management • What is risk? • According to PMI • Risk refers to an uncertain event that has positive or negative effects on project objectives • Risk Management Plan includes • tools and approaches to be used for sayed@justetc.net, www.justetc.net

  4. Risk Management • Risk Management • Identification and assignment of resources for risk management • Risk categories • Risk Probabilities and impacts • The format of risk reporting and tracking sayed@justetc.net, www.justetc.net

  5. Risk Management Process • Processes of Risk Management • Risk Identification • Risk Analysis • Risk Response Planning • Risk Monitoring and Control sayed@justetc.net, www.justetc.net

  6. Risk Identification Process • Risk Identification Process • Output of the Risk Identification Process • Risk Register - a list of identified risks • A list of the root causes of the risks • An initial list of potential responses sayed@justetc.net, www.justetc.net

  7. Risk Analysis • Risk Analysis • Output of the Risk Identification Process is used as the input • Qualitative Risk Analysis involves • prioritization of risks based on a probability • and impact matrix for each objective sayed@justetc.net, www.justetc.net

  8. Risk Analysis • Quantitative Risk Analysis involves • Assessing the probabilities of meeting each project objective • Prioritization of the risks based on their total effect on the overall project objectives sayed@justetc.net, www.justetc.net

  9. Risk Response Plan • Risk Response Plan • Based on the priority for each risk • Take no action • Take action if some events happen • Take action sayed@justetc.net, www.justetc.net

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