PMBok 7th Risk Management : Risk Response
- Task 1 : Plan risk response
- Determine appropriate risk response strategy
- Avoid
- Mitigate
- Enhance
- Exploit ?
- Share ?
- Escalate ?
- Accept
- Contingency planning
- etc.
- Decide the risk response actions (time bound) based on the risk response strategies and identify action owners
- Assess the effectiveness of the risk response actions against the identified strategy and the project objectives impact
- cost/schedule/environment, etc …
- effect of the action on the probability or the risk impact
- Illustrate and communicate effectiveness of the risk response strategies o risk burndown chart, dot plots
- Determine the work around
- Allocate responsibilities
- Outline an appropriate responsibility matrix for a metricized project environment
- Re-evaluate organizational risks
- Determine appropriate risk response strategy
- Task 2 : Implement risk response
- Execute the risk response plan(s)
- Execute the contingency plan(s)
- Encourage stakeholders to provide feedback on the risk response
- Evaluate and react to secondary and residual risks from the response implementation
- Improvise as needed
PMI-RMP Certification exam flashcards
Created : 23/05/2022