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Project risk management
PMP's project risk management knowledge review includes planning risk management, identifying risks, implementing qualitative risk analysis, implementing quantitative risk analysis, planning risk responses, etc.
Edited at 2022-11-16 02:56:56- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- Project Management Process Template
Project management is the process of applying specialized knowledge, skills, tools, and methods to project activities so that the project can achieve or exceed the set needs and expectations within the constraints of limited resources. This diagram provides a comprehensive overview of the 8 components of the project management process and can be used as a generic template for direct application.
Project risk management
- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- Project Management Process Template
Project management is the process of applying specialized knowledge, skills, tools, and methods to project activities so that the project can achieve or exceed the set needs and expectations within the constraints of limited resources. This diagram provides a comprehensive overview of the 8 components of the project management process and can be used as a generic template for direct application.
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- Outline
Project risk management
planning risk management
Risk is an uncertain event or condition that, if it occurs, will have an impact on at least one project objective, such as scope, schedule, cost, and quality.
Three elements of risk
risk event
Events or conditions that have an impact on the project do not exist objectively
risk probability
Probability of occurrence, between 0 and 1
Risk impact
According to the impact, it is divided into positive impact (opportunity) and negative risk (threat)
Known-Known: Project Management Plan
Known-Unknown: Contingency Reserve
Unknown - Unknown: Management Reserve
Individual project risks: Develop specific measures to deal with individual risks (Project Manager)
Overall project risk: Make decisions based on overall risk level (sponsor, senior management, PMO)
risk exposure
risk threshold
Core Concepts of Risk Management
non-event risks
variability risk
Ambiguity risk (variability risk can be handled through Monte Carlo analysis)
project resilience
In addition to listing specific budgets for known risks, reasonable contingency budgets and time should also be reserved for unexpected risks.
Always pay attention to early warning signs of projects to identify unexpected risks as early as possible
Integrated risk management
residual risk
secondary risk
Analysis and Meetings
Risk management environment (stakeholder risk attitudes and project strategic risk exposure based on the overall project situation)
risk management plan
risk category
Risk Breakdown Structure (RBS)
Related party risk appetite
Risk-seeking
risk neutral
Risk averse
Risk probability impact assessment
Probability influence matrix
Identify risks
TT
SWOT analysis
strength
weakness
opportunity
threat (challenge)
O
risk register
risk report
Conduct qualitative risk analysis
I: Risk Register
TT
Data analysis (risk data quality assessment, risk probability and impact assessment, other risk parameter assessment)
Risk classification
Data representation (probability and impact matrix, hierarchical type)
O
risk register
Purpose
Determine the overall risk level of the project. If the overall risk is too high, it may lead to early termination of the project;
Determine the urgency of each risk. Risk ranking may need to be modified based on urgency.
Determine which risks require further quantitative analysis.
Conduct quantitative risk analysis
TT
data analysis
simulation
Cost risk simulation results
Expected monetary value analysis
sensitivity analysis
Helps determine which risks have the greatest potential impact on the project
tornado diagram
sensitivity analysis
Decision tree analysis
influence diagram
Role: Quantify overall project risk exposure and provide additional quantitative risk information to support risk response planning.
Plan risk responses
TT
Threat response strategy
Report
The proposed response exceeds the project manager's authority
The project team or sponsor considers a threat to be outside the scope of the project
avoid
Change the project management plan to completely eliminate the threat
transfer
Responsibility for transferring risk
Risk transfer consequences
alleviate
Reduce the probability of adverse risk events
Reduce the impact of adverse risk events
accept
Take the initiative: Build a contingency reserve
Passive acceptance: let it be
Opportunity coping strategies
Report
The proposed response exceeds the project manager's authority
The project team or sponsor considers an opportunity to be outside the scope of the project
open up
Eliminate uncertainty and ensure opportunities are certain to arise
share
Assigning some or all of the responsibility for responding to an opportunity to the third party who can best seize the opportunity for the benefit of the project, including establishing risk-sharing partnerships and teams, and forming companies or consortiums for special purposes whose purpose is to fully exploit the opportunity , so that all parties benefit from it.
improve
Increase the probability or positive impact of an opportunity.
accept
Be willing to take advantage of opportunities when they arise, but do not actively pursue them.
emergency response strategies
Emergency plans for certain special events. It is usually aimed at more serious threats or more important opportunities, and these threats or opportunities will have obvious signs before or when they occur.
emergency plan
Pre-established risk response plan
Bounce back plan
backup plan
contingency measures
Urgent and unplanned response measures taken in response to negative risks that have occurred
Both contingency and rebound plans can address threats or opportunities, while workarounds can only address threats
Implement risk responses
is the process of executing an agreed risk response plan
Role in managing overall project risk exposure, minimizing individual project threats, and maximizing individual project opportunities by ensuring that agreed risk responses are executed as planned.
A project's overall risk exposure and individual threats and opportunities can be proactively managed only if risk owners exert the necessary effort to implement agreed responses.
Oversight risk
TT
Risk reassessment: identify new risks, reassess existing risks, delete obsolete risks
Risk audit: verify effectiveness of response measures
Deviation and trend analysis
technical performance measurement
Reserve analysis
Meeting