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  • Understanding Project Risk

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    Errol Thompson
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    This document discusses understanding and planning for project risk management. It defines project risk as events that could happen and impact project objectives. Risks can be negative, harming objectives, or positive, benefiting objectives. All projects face risks, and planning involves identifying, analyzing, and monitoring risks. Methods like frequent reviews, cross-functional teams, and regularly updating requirements can help reduce risk, especially for agile projects with more uncertainty.

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    This document discusses understanding and planning for project risk management. It defines project risk as events that could happen and impact project objectives. Risks can be negative, harming objectives, or positive, benefiting objectives. All projects face risks, and planning involves identifying, analyzing, and monitoring risks. Methods like frequent reviews, cross-functional teams, and regularly updating requirements can help reduce risk, especially for agile projects with more uncertainty.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    6 views9 pages

    Understanding Project Risk

    Uploaded by

    Errol Thompson
    This document discusses understanding and planning for project risk management. It defines project risk as events that could happen and impact project objectives. Risks can be negative, harming objectives, or positive, benefiting objectives. All projects face risks, and planning involves identifying, analyzing, and monitoring risks. Methods like frequent reviews, cross-functional teams, and regularly updating requirements can help reduce risk, especially for agile projects with more uncertainty.

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    © All Rights Reserved
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    of 9

    RISK MANAGEMENT CERTIFICATION PROGRAM

    PLANNING RISK MANAGEMENT


    UNDERSTANDING PROJECT RISK

    PLANNING RISK MANAGEMENT


    ‣ WHAT IS MEANT BY
    PROJECT RISK
    ‣ EVENTS THAT MIGHT
    HAPPEN
    ‣ POTENTIAL TO IMPACT
    PROJECT OBJECTIVES

    UNDERSTANDING
    PROJECT RISK
    ‣ NEGATIVE RISKS AND
    POSITIVE RISKS
    ‣ HARM A PROJECT AND ITS
    OBJECTIVES
    ‣ BENEFIT A PROJECT'S
    OBJECTIVES

    UNDERSTANDING
    PROJECT RISK
    ‣ WITH INNOVATION COMES
    AN INCREASE IN PROJECT
    RISK
    ‣ EG. MANAGING A PROJECT
    TO UPGRADE A GYM
    ‣ THREATS AND
    OPPORTUNITIES

    UNDERSTANDING
    PROJECT RISK
    ‣ ALL PROJECTS FACE
    RISKS
    ‣ SPOT A POSSIBLE,
    UNEXPECTED EVENT THAT
    MAY HAVE AN IMPACT
    ‣ DETERMINE WHETHER THE
    RISK IS GOOD OR BAD

    UNDERSTANDING
    PROJECT RISK
    ‣ PLANNING FOR RISKS
    AND RISK RESPONSES
    ‣ IDENTIFYING, ANALYZING,
    AND MONITORING RISKS
    ‣ ALL PROJECTS CARRY
    RISK

    UNDERSTANDING
    PROJECT RISK
    ‣ MORE UNCERTAINTY - AGILE
    METHODOLOGY
    ‣ PRACTICES YOU CAN CONSIDER TO
    REDUCE RISK
    ‣ INTRODUCE FREQUENT REVIEWS
    ‣ CROSS-FUNCTIONAL TEAMS
    ‣ REQUIREMENTS ARE UPDATED
    REGULARLY

    UNDERSTANDING
    PROJECT RISK
    RISK MANAGEMENT CERTIFICATION PROGRAM

    PLANNING RISK MANAGEMENT

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