PMP Exam Preparation Course: 10 Project Risk Management
Click here to load reader
-
Upload
b-m-shahrier-majumder-pmp -
Category
Business
-
view
1.428 -
download
0
Transcript of PMP Exam Preparation Course: 10 Project Risk Management
![Page 3: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/3.jpg)
www.wizardea.com | [email protected]
Learning Objectives
Upon completion of this topic you will learn about
– The processes, activities and documentation items for Project Communication Management
– Elements (and deliverables) for Project Risk Management– Tools and techniques of the key activities of the Project Risk
Management
3
![Page 4: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/4.jpg)
www.wizardea.com | [email protected]
Risk Management
Includes the processes of conducting risk management planning,
identification, analysis, response planning, and monitoring and control
of a project.
4
![Page 5: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/5.jpg)
www.wizardea.com | [email protected]
Key Activities of Risk Management
Plan Risk Management: The process of defining how to conduct risk management activities for a project.
Identify Risks: The process of determining which risk may affect the project and documenting their characteristics.
Perform Qualitative Risk Analysis: The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
Perform Quantitative Risk Analysis: The process of numerically analyzing the effect of identified risks on overall project objectives.
5
![Page 6: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/6.jpg)
www.wizardea.com | [email protected]
Key Activities of Risk Management
• Plan Risk Responses: The process of developing options and actions to enhance opportunities and to reduce threats to project objectives.
• Monitor and Control Risk: The process of implementing risk response plans, tracking identified risks, monitoring residual risks, identified new risks, and evaluating risk process effectiveness throughout the project.
6
![Page 8: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/8.jpg)
www.wizardea.com | [email protected]
Planning Risk Management
Inputs Tools & Techniques Outputs
Project scope statementCost management planSchedule management planCommunication management planEnterprise environmental factorsOrganizational process assets
Project meetings and analysis
Risk management plan
8
![Page 9: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/9.jpg)
www.wizardea.com | [email protected]
Plan Risk Management > Outputs
• Risk Management Plan• Methodology• Roles and responsibilities• Budgeting • Timing• Risk Categories• Definition of Risk Probability and Impact• Probability and Impact Matrix• Reporting Formats• Tracking
9
![Page 11: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/11.jpg)
www.wizardea.com | [email protected]
Identify Risks
Inputs Tools & Techniques Outputs
Risk management planActivity cost estimatesActivity duration estimateScope baselineStakeholder registerCost management planSchedule management planQuality management planEnterprise environmental factorsOrganizational process assets
Documentation reviews Information gathering techniquesChecklist analysisAssumption analysisDiagramming techniquesSWOT AnalysisExpert judgment
Risk register
![Page 12: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/12.jpg)
www.wizardea.com | [email protected]
Identify Risks > Tools and Techniques
• Information gathering techniques• Brainstorming• Delphi technique• Interviewing• Root cause analysis
• Diagramming techniques• Cause-effect diagrams• System or process flow charts• Influence diagrams
12
![Page 13: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/13.jpg)
www.wizardea.com | [email protected]
Identify Risks > Outputs
• Risk register
13
S/N
Risk Description
Category ProbabilityP = 1 to 10
ImpactI = 1 to 10
ExposureE = P X I
Mitigation Plan
Contingency Plan
1
2
![Page 15: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/15.jpg)
www.wizardea.com | [email protected]
Perform Qualitative Risk Analysis
Inputs Tools & Techniques Outputs
Risk management planRisk registerProject scope statementOrganizational process assets
Risk probability and impact assessment Probability and impact matrixRisk data quality assessmentRisk categorizationRisk urgency assessmentExpert judgment
Risk register updates
![Page 16: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/16.jpg)
www.wizardea.com | [email protected]
Perform Qualitative Risk Analysis > Tools and Techniques
• Probability and Impact Matrix
• Risk Categorization• Source of risk• Project effected• Project phase
16
![Page 18: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/18.jpg)
www.wizardea.com | [email protected]
Perform Quantitative Risk Analysis
Inputs Tools & Techniques Outputs
Risk management planRisk registerCost management planSchedule management planOrganizational process assets
Data gathering and representation techniquesQuantitative risk analysis and modeling techniquesExpert judgment
Risk register updates
![Page 19: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/19.jpg)
www.wizardea.com | [email protected]
Perform Quantitative Risk Analysis > Tools and Techniques
• Data gathering and representation technique• Interviewing• Probability distribution
• Quantitative risk analysis and modeling techniques• Sensitivity analysis• Expected monetary value analysis• Modeling and simulation
19
![Page 21: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/21.jpg)
www.wizardea.com | [email protected]
Plan Risk Response
Inputs Tools & Techniques Outputs
Risk management planRisk register
Strategies for negative risks or threatsStrategies for positive risk or opportunitiesContingent response strategiesExpert judgment
Risk register updatesRisk related contract decisionProject management plan updatesProject document updates
![Page 22: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/22.jpg)
www.wizardea.com | [email protected]
Plan Risk Response > Tools and Techniques
• Strategies for Negative risk or threats• Avoid (e.g. extending schedule, reduce scope)• Transfer (e.g. fixed price contract)• Mitigate (e.g. more testing, choose more stable supplier)• Accept
• Strategies for Positive risk or opportunities• Exploit (e.g. assign most talented resources in a project/task)• Share (e.g. joint venture)• Enhance (e.g. adding more resources)• Accept
22
![Page 24: PMP Exam Preparation Course: 10 Project Risk Management](https://reader037.fdocuments.net/reader037/viewer/2022102323/5456933faf7959b8078b584c/html5/thumbnails/24.jpg)
www.wizardea.com | [email protected]
Monitoring & Control Risks
Inputs Tools & Techniques Outputs
Risk registerProject management planWork performance informationPerformance reports
Risk reassessment Risk auditVariance and trend analysisTechnical performance measurementReserve analysisStatus meetings
Risk register updatesOrganization process assets updatesChange requestsProject management plan updatesProject document updates