11. Project Risk Management - Session Summary

In this section we have covered the following:

11.1 - Plan Risk Management - Planning

• Deciding how to approach, plan and execute the risk management activities for a project

11.2 - Identify Risks - Planning

• Determining which risks might affect the project and documenting their characteristics

11.3 - Perform Qualitative Risk Analysis - Planning

• Prioritising risks for subsequent further analysis or action by assessing and combining their probability and impact

11.4 - Perform Quantitative Risk Analysis - Planning

• Numerically analysing the effect on overall project objectives

11.5 - Plan Risk Responses - Planning

• Developing options and actions to enhance opportunities and to reduce threats

11.6 - Control Risks - Monitoring & Control

• Tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans and evaluating their effectiveness throughout the project life cycle

The definitions shown in italics are taken from the Glossary of the Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Fifth Edition, Project Management Institute Inc., 2013

What Next?

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Exercise - Project Risk Management

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