The first step in a good risk management plan is the identification of risks. The other phases of project risk management are built on this foundation. It involves developing a list of the potential risks to a project. This list is called a Risk Register. A good risk register might have the following six columns:... [Read More]| ProjectEngineer
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
Risk analysis is an often omitted area of project management, probably because you can't see its results in a direct way. On top of that, small projects just don't seem like they have the time and budget to justify the time spent. But I would argue that analyzing risk is one of the easiest ways... [Read More]| ProjectEngineer
