Risk Monitoring and Risk Control

Posted by P in Tuesday, June 30th 2009

30
Jun

Project risk control and risk monitoring is where you keep track of about how your risk responses are performing against the plan as well as the place where new risks to the project are managed.
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You must remember that risks can have negative and positive impacts. Positive risk is a risk taken by the project [...]

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Qualitative Risk Analysis

Posted by P in Wednesday, May 6th 2009

6
May

Qualitative Risk Analysis is a measure of risk or asset value based on a ranking or separation into descriptive categories such as low, medium, high; not important, important, very important etc. or on a scale from 1 to 5.
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Qualitative Risk Analysis includes methods for prioritizing the identified risks for further action, such as Quantitative [...]

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Risk Identification

Posted by P in Tuesday, May 5th 2009

5
May

Risk Identification is the process of determining which risks might affect the project and documents their characteristics. Participants of risk identification activities: project manager, project team members, risk management team (if identified), subject matter experts from outside the project team, customers, end users, other project managers, stakeholders, and risk management experts. While these personnel are [...]

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Risk Management Principles

Posted by P in Thursday, April 30th 2009

30
Apr

Risk management approach should be to prevent negative risks and enhancing positive risks. This approach is recomended by PMI (Project Management Institute). Based on this approach, below are some key principles of risk management:
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Risk Categories

Posted by P in Wednesday, April 22nd 2009

22
Apr

Risk management is an essential activity of project management. It is important to classify risks into appropriate categories. Risks can be classified into following 13 categories:
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1. Operational Risk: Risks of loss due to improper process implementation, failed system or some external events risks. Examples can be Failure to address priority conflicts, Insufficient resources or No proper subject [...]

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