Project risk management is what separates good project managers from great ones. Even when everything has been planned and executed to perfection, an unexpected event can cause considerable duress on the project stakeholders and even cause the project to be considered a failure. Risk management is a three step process: Risk Identification Risk Analysis Qualitative Analysis Quantitative... [Read More]| ProjectEngineer
In a proper project risk analysis, once the risks to the project have been identified (step 1), their probability and impact given a value and an overall priority (step 2), risk responses are drawn up (step 3). For each response plan, trigger conditions should be identified. These are the conditions that warrant the implementation of... [Read More]| ProjectEngineer