is an important part of business and technical management process. It should address issues that could endanger achievement of critical objectives. Means applying skills, knowledge and risk management tools and techniques to your projects to reduce threats to an acceptable level while maximizing opportunities. (Kim Heldman, PMP. )
to identify potential problems before
they occur so that risk-handling activities may be planned to invoked as needed across the life of the product or project to mitigate adverse impact as on achieving objectives.
Identifying
and documenting Risk
Analyzing and prioritizing risk Performing risk planning Monitoring risk plan and applying controls Performing risk audits and reviews
Risk management is an iterative process,
an effective communication is at its core. The illustration below shows the iterative nature of risk management and the Identify interaction between the processes. Perform Risks Audit and Reviews
and Document Risk
Communication
Monitor Risks and Apply Control
Analyze and Prioritize Risks
Create Risk Plan
A risk management approach starts first
with the determination that youll create and implement a management plan. Identifying, analyzing, prioritizing and planning for the management of risks and monitoring plans is a much better approach than allowing a problem to change the outcome of your project because they werent planned ahead of time. ( Kim Heldman, PMP )
Risk Management Planning- the purpose is to
create a risk management plan. A plan is the how youll go about dealing with risk in your project. Risk Identification- involves identifying and documenting the risk all the risk that could impact the project. Qualitative Risk Analysis- to determine the consequences the risk you identified in the Risk Identification process. Quantitative Risk Analysis- this will evaluates impacts of risks and quantifies the overall risk exposure of the project by assigning numeric probabilities to each risks and their impacts on the project activities.
Risk Response Planning-involves deciding
what action to take to reduce threats while maximizing opportunities discovered during the performance of the risks process. Risk Monitoring and Control- to respond to risks as they occur, tract and monitor identified risk, evaluate risks response plans for effectiveness, ide4ntify new risks and ensure proper risks management procedures are being followed as defined in the risks management plan. ( Risk Management by Kim Heldman, PMP )
Even the smallest changes in
our daily routine can create incredible riffle effects that expand our vision of what is possible CharlesGlassman MD.com THANK YOU AND GOD BLESS US ALL !!!
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