Discuss Risk Identification and Evaluation Processes
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What is Risk – According to PMI’s PMBOK, Risk and an uncertain event or condition that if it occurs, has a positive or negative effect on one of more project objectives- Scope, Schedule, cost or quality.
Project Risk Management includes the processes of conducting risk management Planning, Identification, Analysis, Response planning, and Risk monitoring & Controlling on a project
Project managers must be prepared to deal with adversity. Planning for events that can delay a project, decrease its quality, or increase its budget is a necessary part of project planning.
Discussion Points:
1. Discuss Risk Identification and Evaluation Processes
2. After project risk has been identified and evaluated, the project manager/team develops mitigation plan to reduce the impact of an unexpected even – Discuss three ways to mitigate Risks in a Project
3. What is the difference between External Complexity and Internal complexity risk profiles in a project – discuss with examples
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