Managing Project Risk

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Notes Managing Project Risk Risk Response Planning Process Inputs Tools Prioritized risk listing Opportunities to pursue, threats to respond to Opportunities to accept, threats to accept Project plan Specific tools Risk response development worksheet Comparative risk ranking (CRR) Risk Response Analysis Matrix Idea-generation tools Group techniques Analogy comparisons Decision-making tools Decision trees Life-cycle cost analysis Financial measures Probability functions © ESI August 2007 dhy01-01.ppt 1-46 © ESI August 2007 dhy01-01.ppt 1-46
Notes Managing Project Risk Response Strategies for Threats Accept (accepting the consequences) Mitigate (reducing the expected value of a threat) Minimizing the probability of the threat event Minimizing the impact of the threat event Transfer (shifting some or all of the threat to another) Avoid (eliminating a specific threat, usually by eliminating the cause) Source: PMBOK ® Guide, pp. 261–263 © ESI August 2007 dhy01-01.ppt 1-47 © ESI August 2007 dhy01-01.ppt 1-47
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