2 July 2022

PMI Risk Management : PMBok 6th and Agile Book

PMI Risk Management

  • Knowledge Area Contribution to Risk Management
    • Scope Management
      • What is included in the project and what is not
      • Work breakdown structure
    • Time Management
      • Work breakdown structure and schedule baseline
    • Cost Management
      • Cost baseline and budgeting
    • Quality Management
      • Quality standards and specifications required for the project
    • Human Resource Management
      • Organizational chart, project team members, staff availability, etc.
    • Communication Management
      • Know the communication plan
    • Stakeholders Management
      • Know the stakeholders and their expectations

PMBok 6th Risk Management Process

  • Risk Management Process pre-requisite
    • Collect essential information from other knowledge areas
  • Risk Management Process description
    • Risk Planning
      • This is the process where you define a “road map” for risk management.
      • You will specify what is needed, what tools will be used and who will be involved.
    • Risk Identification
      • In this process, you will use different tools to come up with a list of risks that might occur in the project.
    • Risk Qualitative Assessment
      • Arranges the risks you have identified, from most important to least important.
    • Risk Quantitative Assessment
      • Tests how the risks may affect the project (using mathematical formulas and computers).
    • Risk Response Planning
      • Strategies that are used to control the risks.
      • Risk Response Planning and Controlling the risks will most likely affect your schedule and cost plans, and may be other plans.
    • Risk Responses Implementing
      • Implement contingency and fallbacks plans (risk owner and resources)
      • Answer questions and facilitate clarification of plan details
      • Communicate with Stakeholders according to the plan
    • Risk Monitoring and Controling
      • This process is done during the project execution phase.
      • You monitor and audit risks, identify new ones and issue change requests as needed.

Agile Book Risk Management

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Created : 09/01/2022

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