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PMP-Project Risk Management Review
PMP project risk management chapter pre-exam knowledge points review. The goal of risk management is to increase the probability and/or impact of positive risks and reduce the probability and/or impact of negative risks, thereby increasing the probability of project success.
Edited at 2023-05-22 22:43:00- bacteria
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PMP-Project Risk Management Review
- bacteria
This is a mind map about bacteria, and its main contents include: overview, morphology, types, structure, reproduction, distribution, application, and expansion. The summary is comprehensive and meticulous, suitable as review materials.
- Plant asexual reproduction
This is a mind map about plant asexual reproduction, and its main contents include: concept, spore reproduction, vegetative reproduction, tissue culture, and buds. The summary is comprehensive and meticulous, suitable as review materials.
- Reproductive development of animals
This is a mind map about the reproductive development of animals, and its main contents include: insects, frogs, birds, sexual reproduction, and asexual reproduction. The summary is comprehensive and meticulous, suitable as review materials.
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- Outline
PMP-Project Risk Management Review
basic concept
Neutral word, the goal of risk management is to increase the probability and/or impact of positive risks and reduce the probability and/or impact of negative risks, thereby increasing the probability of project success.
The overall risk is greater than the sum of the individual risks
3 types of risks
Known - known risks
Planned response
Known-Unknown Risks
emergency management
Unknown - unknown risk
management reserve
planning risk management
Main points
The process of defining how project risk management activities will be implemented
enter
Project Charter
Interested Party Register
Tools and Techniques
Stakeholder analysis
output
risk management plan
Risk management strategy, methodology, funding, timing
Role Responsibilities
Related party risk appetite
risk category
Risk Breakdown Structure (RBS)
Risk probability and impact definitions, probability and impact matrix
Identify risks
Main points
Identify sources of individual project risk as well as overall project risk
All project stakeholders should be encouraged, and the participation of the project team is particularly important
Tools and Techniques
Checklist
Develop checklists based on historical information, lessons learned and knowledge accumulated from similar projects and other sources of information
Checklists are not a substitute for required risk identification work
Assumptions and constraints analysis
SWOT analysis
Tip list
Use the risk categories underlying the Risk Breakdown Structure (RBS) as a reminder list
output
risk register
List of identified risks
Potential Risk Responsible Person
List of potential countermeasures
Conduct qualitative risk analysis
Main points
Prioritize risks
By assessing the probability and impact of individual project risks
Tools and Techniques
Risk probability and impact assessment
Probability and Impact Matrix
Risk classification
Helps focus attention and energy on areas of greatest risk exposure
output
Risk Register (updated)
Updated probability, impact, risk score (probability * impact), responsible person
Conduct quantitative risk analysis
Main points
Quantify overall project risk exposure and provide additional quantitative risk information
Not all projects require quantitative risk analysis
Tools and Techniques
simulation
Monte Carlo analysis is often used
sensitivity analysis
Usually represented by a tornado diagram
Decision tree analysis
Decision tree selects the best plan among several alternative activity plans (EMV expected monetary value analysis)
Plan risk responses
Main points
Specify appropriate approaches to overall project risk and individual project risk
Tools and Techniques
threaten
Report
An escalation strategy should be used if the project team or project sponsor believes that a threat is outside the scope of the project or that the proposed response is beyond the project manager's authority
Escalate to the level whose targets are affected by the threat (once escalated, there is no further oversight by the project team)
avoid
The probability or impact of the risk is 0
Suitable for high-priority threats with a high probability of occurrence but severe negative impact
Includes eliminating the cause of the threat, extending the schedule, changing the project strategy, or reducing the scope
transfer
Shift responsibility for responding to threats to third parties
Insurance, outsourcing, etc.
alleviate
reduced to acceptable thresholds
Adopt simpler processes, conduct more testing, use more reliable vendors, and redundant equipment
accept
Take the initiative to accept
contingency reserve
passive acceptance
Document the strategy without any additional action and need to be reviewed regularly
Chance
Report
Escalate to the level whose goals will be affected by the opportunity (once reported, there is no further supervision by the project team)
open up
The best people or resources
share
Establish partnerships, collaborative teams, special companies, joint ventures
improve
Add common resources
accept
Take the initiative to accept
contingency reserve
passive acceptance
Document the strategy without any additional action and need to be reviewed regularly
emergency response strategies
A response that is only used when a specific event occurs
Secondary and residual risks
output
Risk Register (updated)
Implement risk responses
Main points
Implementing a risk response is the process of executing an agreed risk response plan
Tools and Techniques
Influence
To encourage designated risk owners to take required actions
Oversight risk
Main points
The process of overseeing the implementation of agreed risk response plans, tracking identified risks, identifying and analyzing new risks, and evaluating the effectiveness of risk management
Tools and Techniques
Reserve analysis
Compare remaining contingency reserves to the amount of remaining risk to determine whether remaining reserves are still reasonable
risk audit
Assess the effectiveness of risk management processes
Meeting
risk review meeting
Identify new risks, reassess current risks, and close outdated risks
output
Risk register updates
New syllabus process areas Task 3 - Evaluate and manage sub-concepts
Validate risk management options Iteratively assess and prioritize risks