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Learning Objectives
Upon completion of this topic you will learn about
– The processes, activities and documentation items for Project
Communication Management
– Elements (and deliverables) for Project Risk Management
– Tools and techniques of the key activities of the Project Risk
Management
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Risk Management
Includes the processes of conducting risk management planning,
identification, analysis, response planning, and monitoring and control
of a project.
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Key Activities of Risk Management
Plan Risk Management: The process of defining how to conduct risk
management activities for a project.
Identify Risks: The process of determining which risk may affect the
project and documenting their characteristics.
Perform Qualitative Risk Analysis: The process of prioritizing risks for
further analysis or action by assessing and combining their probability
of occurrence and impact.
Perform Quantitative Risk Analysis: The process of numerically
analyzing the effect of identified risks on overall project objectives.
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Key Activities of Risk Management
• Plan Risk Responses: The process of developing options and
actions to enhance opportunities and to reduce threats to project
objectives.
• Monitor and Control Risk: The process of implementing risk response
plans, tracking identified risks, monitoring residual risks, identified
new risks, and evaluating risk process effectiveness throughout the
project.
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Identify Risks > Tools and Techniques
• Information gathering techniques
• Brainstorming
• Delphi technique
• Interviewing
• Root cause analysis
• Diagramming techniques
• Cause-effect diagrams
• System or process flow charts
• Influence diagrams
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Identify Risks > Outputs
• Risk register
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S/
N
Risk
Description
Category Probability
P = 1 to 10
Impact
I = 1 to 10
Exposure
E = P X I
Mitigation
Plan
Contingency
Plan
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