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• *The processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project.
• Increase the likelihood and impact of positive events, and decrease the likelihood and impact of negative events in the project.
• The Risk Management processes are: ◦ Plan Risk Management ◦ Identify Risks ◦ Perform Qualitative Risk Analysis ◦ Perform Quantitative Risk Analysis ◦ Plan Risk Responses ◦ Control Risks Please refer to PMBOK® Guide Fifth Edition, figure-1, page. This provides an overview of Project Risk Management.
Thanks for the invitation and well explained
Project Risk Management is not an optional activity: it is essential to successful project management.
It should be applied to all projects and hence be included in project plans and operational documents. In
this way, it becomes an integral part of every aspect of managing the project, in every phase and in every
process group.
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With greetings and appreciation
Thanks for the invitation. Useful Information.
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