Knowledge Areas Risk Management Project Risk Management Risk Identification Risk Analysis Plan Risk Responses Control Risks Project risk is defined by the Project Management Institute as an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Risk management is the process of identifying, analyzing,... [Read More]| ProjectEngineer
Knowledge Areas Risk Management Project Risk Management Risk Identification Risk Analysis Plan Risk Responses Control Risks Once the risks to the project have been identified, their probability and impact given a value, and an overall priority established, risk responses should be drawn up. For each response plan, trigger conditions should be identified. These are the... [Read More]| ProjectEngineer
Knowledge Areas Risk Management Project Risk Management Risk Identification Risk Analysis Plan Risk Responses Control Risks Risk monitoring and control during project execution is crucial to ensure a that project risks are accounted for and properly dealt with. Many things change during the course of the project which render parts of the risk register obsolete.... [Read More]| ProjectEngineer
The Project Management Body of Knowledge (PMBOK), produced by the Project Management Institute, is the gold standard for the project management profession. It divides project management into the following ten Knowledge Areas: Project Integration Management The stuff that doesn’t fit in any other category, like developing the project management plan itself, making changes to the... [Read More]| ProjectEngineer
Project risk is defined by the Project Management Institute as an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Project risk management is concerned with the analysis and prioritization of "risk events." According to the PMI, the structure of a proper risk management... [Read More]| ProjectEngineer
Knowledge Areas Risk Management Project Risk Management Risk Identification Risk Analysis Plan Risk Responses Control Risks The first step in a good risk management plan is the identification of risks. The other phases of project risk management are built on the foundation built here. A comprehensive list of potential risks to the project must be... [Read More]| ProjectEngineer