Implement Risk Responses Process
This process was introduced in the PMBOK Guide Edition 6. It is the only process in the Executing Process Group. Below is the PG-KA mapping, As the name goes, this …
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Secondary Risks | Residual Risks | Workaround | Business Risks | Pure Risks
Secondary Risks Secondary risks are the risks that arise when you mitigate an original risk. For example, if you serve hot coffee in cold weather to ensure project team remains …
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Plan Risk Responses Process
By now you would have realized that there is a lot of planning required in the Risk Management knowledge area. If not, here’s another process for you, Plan Risk Responses …
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Expected Monetary Value (EMV) Calculation
In our discussion on Perform Quantitative Risk Analysis process, we touched upon the concept of Expected Monetary Value or EMV. As mentioned then, With the help of EMV analysis you …
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Perform Quantitative Risk Analysis
After ‘Qualitative‘ risk analysis, you must have seen this coming – a ‘Quantitative’ risk analysis. Here’s the all important PG-KA mapping, From a definition standpoint, this process is all about …
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Probability and Impact Matrix
An important topic within the Qualitative Risk Analysis process is the Probability and Impact matrix. This is basically a table where all the risks are plotted out according to the …
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Perform Qualitative Risk Analysis Process
Studying the identify risks process should ideally lead to a question – How long should I keep identifying risks? After all, aliens attacking the company HQ is also a risk! …
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Risk Register
One may wonder, how does the project team remember all those risks identified in the Identify Risks process? Enter the Risk Register Risk Register is a document built into the …
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Identify Risks Process
The second process in the Risk Management knowledge area is Identify Risks. Below is the PG KA mapping, As the name suggests, this is the process of determining which risks …
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Risk Probability and Impact Assessment
Here’s a question, how do you determine if a risk is big or small? Also, how do you figure out how likely the risk is going to occur or materialize? …
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