MindMap Gallery PMBOK Project Management PMP Chapter 11 Project Risk Management
PMBOK Chapter 11 Mind Map and Interpretation. As a PM, the awareness and grasp of risks are always present throughout the project. The more risks are identified and dealt with in the early stages of a project, the smoother the project will be completed.
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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.
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.
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.
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.
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.
Chapter 11 Project Risk Management
Overview
Risk theory’s understanding of the world
Determine event
Probability=1
Uncertain event
Unknown - Unknown risks (unfounded risks), cannot be predicted, and will only be known when they occur.
risk
0<Probability<1 Known-unknown risk, known, can happen at any time, can be managed
Three elements of risk
Event (risk name)
Probability
Influence
Common understanding and perception of risk
Risks are everywhere and should be managed, opportunities and risks coexist
Core theories of risk management
When risks are identified, they will not cause great harm
Quantify risk, quantify true probability, true impact and expected monetary value
11.1 Planning risk management
enter
Project Charter
project management plan
project management documents
Interested Party Register
Attitudes of interested parties
business environment factors
risk threshold
organizational process assets
Risk Categories, Risk Breakdown Structure (RBS)
Used to identify risks in the future
tool
expert judgment
data analysis
Meeting
output
risk management plan
risk management strategy
methodology
Roles and Responsibilities
Set aside reserves for risk
people, money, time
Risk Identification
0<probability<1
The risk has not occurred
Risk occurs
Probability=1
The risk has occurred
Supplier/resource issues as risk identified
11.2 Identify risks
enter
project management plan
project files
What-if logs, performance reports
protocol
Procurement documents
business environment factors
organizational process assets
tool
expert judgment
data collection
Brainstorming
Brainstorm ideas
Checklist
Interview
Ask an experienced driver for directions
data analysis
Root Cause Analysis
Assumptions and constraints analysis
SWOT analysis (situation analysis)
Macro-level identification of risks and opportunities from within and outside the organization
File analysis
Interpersonal and team skills
guide
Tip list
Meeting
output
risk register
risk report
Project file updates
11.3 Conduct qualitative risk analysis
Identify all risks, rank risks, perform qualitative analysis, identify important risks, focus on management, conduct quantitative analysis, and formulate response plans
No absolute value is required, only a relative value
risk owner
Develop risk responses
Implement risk responses
enter
project management plan
risk management plan
project files
Hypothetical log
risk register
Interested Party Register
business environment factors
organizational process assets
tool
expert judgment
data collection
data analysis
Risk data quality assessment
Qualitative evaluation
Risk probability and impact assessment
score
urgency
Proximity
incubation period
closeness
Interpersonal and team skills
guide
Risk classification
Improve the efficiency of risk management
Data performance
Meeting
output
Project file updates
risk register
11.4 Implement quantitative risk analysis
Conduct quantitative analysis on important risks ranked by qualitative analysis, quantifying three indicators: probability value, impact value and expected monetary value
enter
project management plan
project files
risk level book
business environment factors
organizational process assets
tool
expert judgment
data collection
interpersonal skills
How uncertainty manifests
triangular distribution
normal distribution
beta distribution
data analysis
simulation
Monte Carlo simulation
sensitivity analysis
Which risks have the greatest potential impact on project results?
tornado diagram
Can only analyze impact, not probability
Only one factor can be analyzed
Decision Trees and Expected Monetary Value Analysis
Quantify first, then decide
influence diagram
Graphical aids for decision making under uncertainty
output
Project file updates
risk register
11.5 Planning risk responses
Overview
Bounce back plan
If one skill doesn't work, try another one
emergency plan
Plans to be implemented after the risk occurs
secondary risk
Recurrence risk due to risk response
enter
project management plan
project files
risk register
business environment factors
organizational process assets
tool
expert judgment
data collection
interpersonal skills
Threat response strategy
Report
Beyond PM authority
Government action, force majeure
affecting the entire company
Impact other projects
professional ethics issues
avoid
Major risks, knowing that there are tigers in the mountains, do not go to the tiger mountains. The core of paying attention to risks is to change the plan.
transfer
Transferring risk to professionals (third parties)
Outsource/buy insurance
alleviate
Reduce probability, reduce impact
Use a simple process
More tests
A more reliable supplier
Develop a prototype
Add redundant components (setup backup)
accept
Not proactively taking measures/proactively accepting (establishing contingency reserves)
Unable to cope
Risk response cost > expected monetary value
The risk probability is very low and the impact is very low
Opportunity coping strategies
Report
open up
Let the opportunity come more violently
Reduce time by allocating the organization's most capable resources to projects
Use new technologies to save project costs and shorten project time
share
Transfer opportunities to third parties
VCs
improve
Increase resources to complete work sooner
accept
Take the initiative to accept
Establish emergency reserves
passive acceptance
regular review
emergency response strategies
Measures to be taken after the risk occurs
Overall project risk response strategy
avoid
open up
transfer or share
reduce or improve
data analysis
decision making
output
change request
Project Management Plan Update
File update
risk register
11.6 Implement risk responses
enter
project management plan
risk management plan
project files
organizational process assets
tool
expert judgment
interpersonal skills
project management information system
output
change request
Project file updates
11.7 Supervision risks
enter
project management plan
project files
job performance data
job performance report
tool
data analysis
Technical data analysis
The essence is deviation analysis, other than the three major benchmarks
Reserve analysis
The remaining contingency reserve and the amount of remaining risk, determine whether the remaining reserve is still reasonable, and burn down chart
audit
Summarize experience and lessons
Risk management process effectiveness
Effectiveness of risk response measures
Meeting
output
job performance information
change request
Project Management Plan Update
Project file updates
Organizational process asset updates