Occasionally check

Risk is an uncertain event or condition that, if it occurs, will have some positive or negative impact on the project objectives

Any time (it doesn’t happen)

relativity

Variability (nature/consequences/new risks)

According to risk consequences

By risk source

By scope of influence

by predictability

Press to manage

The process of defining how project risk management activities will be implemented

Ensure that the level, approach and visibility of risk management are commensurate with the level of project risk and importance to the organization and other stakeholders.

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1. Risk management strategy: Describe the general approach used to manage risks on this project.

2. Methodology: Determine the specific methods, tools and data sources used to carry out risk management of this project.

3. Roles and responsibilities: Identify leaders, supporters and team members for each risk management activity, and clarify responsibilities.

4. Funds: Determine the funds required to carry out project risk management activities, and formulate plans for the use of emergency reserves and management reserves.

5. Timing: Determine the time and frequency of implementing the project risk management process during the project life cycle, determine the risk

6. Risk management activities and incorporate them into the project schedule.

7. Risk categories: Determine how to classify project risks.

8. Stakeholder risk preference.

9. Risk probability and impact.

10. Probability and impact matrices.

11. Report format.

12. Tracking.

Specifies a method for classifying potential risk causes

It provides a structured method to make the risk identification process systematic and comprehensive, ensuring that the organization can identify risks under a unified framework, with the purpose of improving the quality and effectiveness of risk identification.

Risk Breakdown Structure (RBS)

The process of identifying sources of individual project risks, as well as overall project risks, and documenting risk characteristics.

1. Record existing individual project risks and the sources of overall project risks;

2. Aggregate relevant information so that the project team can appropriately respond to the identified risks.

1. Identify and determine the potential risks of the project

2. Identify the main factors causing these risks

3. Identify possible consequences of project risks

1. All employees

2. Systematic

3. Dynamic

4. Information dependence

5. Comprehensive

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1. List of identified risks

2. List of potential countermeasures

3. Root causes of risk

4. Risk category update

Note: It is only created in the risk identification stage, and subsequent qualitative analysis, quantitative analysis, and control risks will be supplemented and updated. For example, risk occurrence probability and risk impact level are updated in the qualitative analysis.

The process of prioritizing risks by assessing the probability and impact of occurrence and other characteristics of individual project risks to provide a basis for subsequent analysis or action.

Focus on high priority risks.

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hierarchical

The process of quantitatively analyzing the impact of risks and other sources of uncertainty on overall project objectives.

1. Quantify the maximum likelihood of overall project risk,

2. Provide additional quantitative risk information to support risk response planning.

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Monte Carlo analysis

Decision tree analysis

sensitivity analysis

1. Quantify project results and the probability of achieving project results

2. Evaluate the probability of achieving specific project goals

3. Determine the risks that require special attention by quantifying the impact of each risk on the overall risk of the project.

4. Determine realistic cost, schedule, or scope goals that are achievable, taking into account project risks

5. Determine the best project management decisions when certain conditions or outcomes are uncertain

1.Interview

2. Probability distribution

3. Expert judgment

1. Expected monetary value analysis

2. Decision tree analysis

3. Sensitivity analysis

4. Modeling and Simulation

The process of formulating plans, selecting response strategies, and agreeing on response actions in response to risks

1. Develop appropriate methods to deal with overall project risks and individual project risks;

2. Allocate resources and add related activities to the project documents and project management plan as needed.

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risk response strategies

emergency response strategies

Implementing a risk response is the process of executing an agreed risk response plan.

Ensure agreed risk responses are executed as planned to manage overall project risk exposure to minimize individual project threats and maximize individual project opportunities.

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Monitoring risk is the process of overseeing the implementation of the agreed risk response plan, tracking identified risks, identifying and analyzing new risks, and evaluating the effectiveness of risk management throughout the project period.

Base project decisions on current information about overall project risk exposure and individual project risks

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Are the risk responses implemented effective?

Has the overall project risk level changed?

Has the status of an identified individual project risk changed?

Whether new individual project risks arise

Is the risk management approach still relevant?

Do the project assumptions still hold?

Have risk management policies and procedures been followed?

Whether cost or schedule contingency reserves need to be modified

Is the project strategy still valid?