Managing Project Risk

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Notes Managing Project Risk Establish an Early Warning System Establish an early warning system to detect deviations from plan that may be or may cause risk triggers. Exposure increases as cost and schedule variances increase Examples of early warning include— Cost variance Schedule variance Changes in forecasted project end date Changes in float Changes in stakeholder attitude Emergence of additional critical paths © ESI August 2007 dhy01-01.ppt 1-58 © ESI August 2007 dhy01-01.ppt 1-58
Notes Managing Project Risk Step 7: Evaluate Results Evaluating risk response results involves— Monitoring the effectiveness of risk response strategies Evaluating corrective actions taken Reanalyzing existing risks Reassessing the risk environment Evaluating project assumption validity Identifying new risks Adjusting the plan accordingly Document Evaluate Execute Risk Management Planning Document and Communicate Identify © ESI August 2007 dhy01-01.ppt 1-59 Analyze Prioritize © ESI August 2007 dhy01-01.ppt 1-59 Plan
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