W4: Risk Management with WBS Project Risk Management What is Risk - According to PMI's PMBOK, Risk and an uncertain event or condition that if it occurs, has a positive or negative effect on one of...

W4: Risk Management with WBS

Project Risk Management

What is Risk - According to PMI's PMBOK, Risk and an uncertain event or condition that if it occurs, has a positive or negative effect on one of more project objectives- Scope, Schedule, cost or quality. Please Review first required Resource - in its entirety

Project Risk Management includes the processes of conducting riskmanagement Planning, Identification, Analysis, Response planning, and Risk monitoring & Controlling on a project -Review provided second required resource in its entirety.

Project managers must be prepared to deal with adversity. Planning for events that can delay a project, decrease its quality, or increase its budget is a necessary part of project planning.Read the provided third require reading resource provided Chapter 11 in its entirety

Discussion Points:

1. Discuss Risk Identification and Evaluation Processes


2. After project risk has been identified and evaluated, the project manager/team develops mitigation plan to reduce the impact of an unexpected even - Discuss three ways to mitigate Risks in a Project


3. What is the difference between External Complexity and Internal complexity risk profiles in a project - discuss with examples

Risk Management (Project Management Professional)