Risk management
- Identify the risks that might affect the project’s success.
- Assess the risks based on cost-effective principal.
- Select appropriate methods to mitigate project’s risks.
- Estimate risks to the schedule using PERT & Critical
Chain technique
Risk
involves “cause vs effects”.
The key role of risk management is considering uncertainty remaining after a plan has been formulated.
Risk Management Process
compare loss & the cost of defraying
- risk identification
- risk assessment
- risk plan
- risk monitoring & control
Risk Identification
- Technical risks
- Project management risks
- Organizational risks
- External risks
Risk Identification Matrix Template
scope triangle elements:
- scope
- time
- cost
- quality
- resources
Risk Assessment
risk exposure = (potential damage) × (probability of occurrence)
e.g. 500k*0.1%=500 yuan
level: high>significant>moderate>low
Risk Plan
- risk accept
- risk avoidance
- risk reduction/mitigation
- transfer