RLabs Project Management Presentation

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6. Defining Risk Management
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8. Analyze & Prioritize
Identify Risk
Establish Reserves
Develop Response Plans
Continuous Risk Management
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9. Identify Risks
Systematically find all the factors that
threaten project objectives
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10. Analyze & Prioritize
Assess each risk in terms of its
possible damage and likelihood of
occurrence. Most projects have an
enormous number of potential risks.
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11. Develop a Response
Create strategies for reducing the
possible damage or the probability
that the risk will occur
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12. Establish Reserves
Set aside additional funding for the
project that will be used in case of
specific risks- the known risks- occur,
as well as funding for the unknown
risks
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13. Continuous Risk Management
Implement the strategies and monitor
the effects of these changes on the
project. Risk strategies may require
fine-tuning as they are put into effect.
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14. Murphy's risk
management law
The art of identifying risks begins with a
critical attitude. Because we're trying
to find problems before they emerge,
it's appropriate that "anything that can
go wrong will go wrong".
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