Project ManagementOrganizational Project MGMT Business Value Role of Project Manager Project...
22
PRINCESS NOURA UNIVESRSITY Project Management BUS 302 Reem Al-Qahtani This is only for helping reading the PMBOK … it has our notes for focusing on the book
Transcript of Project ManagementOrganizational Project MGMT Business Value Role of Project Manager Project...
PRINCESS NOURA UNIVESRSITY
Project Management BUS 302
Reem Al-Qahtani
This is only for helping reading the PMBOK … it has our notes for focusing on the book
Al-Qahtani,R.A | P a g e 1
Chapter outline:
☑ What is PMBOK?
☑ What is Project?
☑ What is Project MGMT?
☑ Relationships among Portfolio MGMT,
Program MGMT, Project MGMT, &
Organizational Project MGMT
☑ Business Value
☑ Role of Project Manager
Project Management Framework
What is PMBOK?
o PMBOK= Project Management Body of Knowledge
o Indicates that the application of knowledge, Processes, skills,
tools, and techniques can significant impact on project success
o Describes the Project Management Processes used to manage
a project toward a more successful outcome.
o PMI = Project Management Institute www.pmi.org
o PMI Global Exams:
o Certified Associated in Project Management (CAPM)
Category General
Education PM Education
PM
Experience
Experience Within
Last
Number of
Questions
Exam
Length
Sign Code of
Conduct
One High School
graduate – 1500 hours 3 years 150 3 hours Yes
Two High School
graduate
23 contact
hours * – 3 years 150 3 hours Yes
* CAPM® candidates have the option of either completing the full 23 Contact Hours prior to submitting their CAPM® application and scheduling
their exam date OR submitting their CAPM® Application and attesting they will complete the 23 Contact Hours prior to their exam.
o Project Management Professional (PMP)
o Program Management Professional (PgMP)
o PMI Agile Certified Practitioner (PMI-ACP)SM
o PMI Risk Management Professional ( PMI-RMP)
o PMI Scheduling Professional (PMI-SP)
What is Project? “PMOK pg. 3”
o Temporary “has a definite beginning and end time”
o Create a unique product, service, or result
What is Project MGMT? “PMOK pg. 5”
o A systematic process used to initiate, plan, execute, control, and close a project to meet defined
objectives
o A science and an art
Relationships among Portfolio MGMT, Program
MGMT, Project MGMT, & Organizational Project
MGMT
o Program: “PMOK pg. 9”
Defined as a group of related projects,
subprograms, and program activates managed in
a coordinated way to obtain benefits not
available from managing them individually
portfolio
Projects sub-portfolio Programs
related Project subprograms
operations
Al-Qahtani,R.A | P a g e 2
o Program Management
The application of knowledge, skills, tools, and techniques to a program in order to meet the
program requirements and to obtain benefits and control no available by managing projects
individually.
o Portfolio:
Projects, programs, sub-portfolios, and operations managed as a group to achieve strategic
objectives. They many not necessarily be interdependent or directly related.
o Portfolio Management:
Refers to the centralized management of one or more portfolio to achieve strategic
objectives.
Business Value
o It is a concept that is unique to each organization.
o It is defined as the entire value of the business, the total sum of all tangible and intangible elements.
o Successful business value realization begins with comprehensive strategic planning and management
Role of Project Manager
o Project Manager:
o the person assigned by the performing organization to lead the team that is responsible for
achieving.
o The role of project manager is distinct from a functional manager or operations manager.
o Functional manager:
focused on providing management oversight for a functional or a business unit
o operations manager:
responsible for ensuring that business operations are efficient.
o For reporting:
o Project manager may report to a functional manager
o Project manager may be one of several project managers who report to a program or portfolio
manager
o Responsibilities and competencies of the project manager:
o Knowledge:
Refers to what the project manager knows about project management
o Performing:
Refers to what the project manager is able to do or accomplish while applying his or
her project management knowledge
o Personal:
Refers to how the project manager behaves when perfuming the project or related
activities.
Al-Qahtani,R.A | P a g e 3
Chapter outline: ☑ Organizational Influences on Project
MGMT
☑ Project Stakeholder and Governance
☑ Project Team
☑ Project Life Cycle
Organizational Influences and Project Life Cycle
Organizational Influences on Project MGMT
o Organization’s culture, style, and structure influence how its
projects are performed.
Organizational Culture and styles:
o Organizations are systematic arrangement of entities (person and/or department) aimed at accomplishing
a purpose, which involve undertaking projects.
o Organizational culture is shaped by the common experiences of members of the organization and most
organizations have developed unique cultures over time by practice and common usage.
Organizational Communications:
o Project management success in organization is highly dependent on an effective organizational
communication style, especially in the face of globalization of the project management profession
Organizational Structures:
o It’s an enterprise environmental factor which can affect the availability of resources and influence how
projects are conducted
Organizational
structure Functional
Matrix
Projectized Project
Characteristics Weak Balanced Strong
Project
Manager’s
Authority
Little to none Low Low to
Moderate
Moderated to
high High to total
Resources
availability Little to none Low
Low to
Moderate
Moderated to
high High to total
Who Manage
the Project
Budget
Functional
Manager
Functional
Manager Mixed Project Manager Project Manager
Project
Manager role Part- time Part- time Part- time Full- time Full- time
Project Stakeholder and Governance
Project Stakeholders
o All members pf the project team as well as all interested entities that are internal or external to the
organization or positive and negative and performing and advising stakeholders in order to determine the
project requirements and expectations of all parties involve.
Al-Qahtani,R.A | P a g e 4
o Stakeholders have a varying level of responsibilities and authority when participating on project.
Project Success
o The success of the project should be measured in terms of completing the project within the constraints
of scope, time, cost, quality, resources, and risk as approved between the project manager and senior
management.
o Project manager is responsible and accountable for setting realistic and achievable boundaries for the
project within the approved baseline.
Project Team
o Includes the project manager and the group of individuals who act together in performing the work of
the project to achieve its objective
o Project team includes:
o Project management staff
o Project staff
o Supporting experts
o User and customer representatives
o Sellers
o Business partner members
o Composition of project teams:
o It based on factors such as organization culture, scope, and location.
o Basic project team composition:
Dedicated
Part-time
Project Life Cycle
o It’s series of phases that a project passes through from its initiation to closure.
o The phases can be broken down by functional or partial objectives, intermediate results or deliverables,
specific milestones within the overall scope of work, or financial availability.
Al-Qahtani,R.A | P a g e 5
Characteristics of the Project Life Cycle
Cost
an
d s
taff
ing L
evel
Starting
the
project
Organizing and
preparing
Carrying out the work Closing the
project
Project Charter Project Management Plan Accepted Deliverables
Time
Deg
ree
Starting
the
project
Organizing and
preparing
Carrying out the work Closing the
project
Project Charter Project Management Plan Accepted Deliverables
Time
Project Phases
o Project may be divided into many number of phases
o A project phase is a collection of logically related project activities that culminated in the completion of
one or more deliverables.
Risk and uncertainty
Cost of Changes
Al-Qahtani,R.A | P a g e 6
o The phase structure allows the project to be segmented into logical subsets for ease of management,
planning, and control.
o The number of phases the need for phases and degree of control applied depends on the size,
complexity, and potential impact of the project.
o Phase-to-Phase Relationship
When projects have more than one phase, the phases are part of generally sequential
process designed to ensure proper control pf the project and attain the desired product,
service or results.
Sequential relationship:
The phase starts only when the previous phase is completed.
Overlapping relationship:
A phase starts prior to completion of the previous one.
o Predictive Life Cycles
known as fully plan driven
They are ones on which the project scope, and the time and cost required to deliver that
scope as early in the project life cycle as practically possible.
Al-Qahtani,R.A | P a g e 7
Chapter outline: ☑ Project Management Process
☑ Inputs
☑ Process
☑ Outputs
Project Management Processes
A project management process
o the management process of planning and controlling the
performance or execution of a project.
Inputs
o Documented need to act
o Project plan templates
o Lessons learned from previous projects
o Existing project management standards
o External information
o Resources for project planning and project execution
Process
o Project Initiation Processes:
o Those processes performed to define a new project
or a new phase of an existing project by obtaining
authorization to start the project or phase.
o Project Planning Processes:
o Those processes required to establish the scope of the project, refine the objectives, and define
the course of action required to attain the objectives that the project was undertaken to achieve.
o Project Execution Processes:
o Those processes performed to complete the work defined in the project management plan to
satisfy the project specifications.
o Project Control and Validation Processes:
o Those processes required to track, review, and regulate the progress and performance of the
project; identify any areas in which changes to the plan are required; and initiate the
corresponding changes.
o Project Closeout Processes:
o Those processes performed to finalize all activities across all Process Groups to formally close
the project or phase.
Outputs o Project products delivered
o Project objectives achieved (as a result of the interplay among project products and the organization or
its environment)
Al-Qahtani,R.A | P a g e 8
Chapter outline: ☑ Integration Management
☑ Why do we manage
Integration?
☑ Who manages Integration?
☑ What will be Developed
from Project Integration?
o Lessons learned documented
Project Integration Management
Integration Management
o Includes processes to ensure that all the elements of a project are
properly coordinated
o Making tradeoffs among competing alternatives and objectives to
meet stakeholder needs
o Typically the most important knowledge area for the project Manager
Why do we Manage Integration?
o Manage changes and communication
o Reduce Project Time and Cost Involve stakeholders
early and often
o Make results visible
o Identify problems/solutions early
o Use relevant experience as early as possible
Who Manages Integration?
o Project Manager
o Team Members
o Project Sponsor
What will be Developed from Project Integration?
o Develop Project Charter:
o It’s a document issued by the project’s sponsor that authorized the project and the project
Manager
o It provides the high level requirement for the project
Project Charter
Project Title: Project Manager
Project Description:
Project Manager
Authority Level
Resources
Requirements
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing
Group Process
Monitoring and
controlling Group
Process
Closing Group
Process
Project
Integration
Management
o Project
Charter
Project
Management
Plan
Direct and
Manage
Project Work
Monitor and Control
Project Work Perform Integrated
Change Control
C lose Project
or Phase
Al-Qahtani,R.A | P a g e 9
Stakeholders: Stakeholder Name Stakeholder Requirements
Product Description: Describe the features and functions of the project
Deliverables: List the deliverables below:
Deliverable: Due Date:
Project Approval
Requirements
Risks Knowing at This
Time
Sponsor Signature Name:
Signature:
Date
o Develop Project Management Plan
o The process of defining, preparing, and coordinating all subsidiary plans and integrating
them into a comprehensive project management plan. The project’s integrated baselines and
subsidiary plans may be included within the project management plan.
o Direct and Manage Project Work
o The process of leading and performing the work defined in the project management plan and
implementing approved changes to achieve the project’s objectives.
o Monitor and Control Project Work
o The process of tracking, reviewing, and reporting project progress against the performance
objectives defined in the project management plan.
o Perform Integrated Change Control
o The process of reviewing all change requests; approving changes and managing changes to
deliverables, organizational process assets, project documents, and the project management
plan; and communicating their disposition.
o C lose Project or Phase:
o The process of finalizing all activities across all of the Project Management Process Groups
to formally complete the phase or project.
Al-Qahtani,R.A | P a g e 10
Chapter outline: ☑ Project Scope Management
☑ Product and project scope
☑ Plan Scope Management
☑ Collect Requirements
☑ Define Scope
☑ Create WBS
☑ Validate Scope
☑ Control Scope
Project Scope Management
Project Scope Management
o Processes required to ensure that the project includes all work
required, and only the work required to complete the project
successfully. Product and project scope
o Product Scope:
o The feature and functions that characterize a product,
service, or results
o Project Scope:
o The work performed to deliver a product, service, or result with the specified feature and
functions.
What will be Developed from Project Scope?
Planning Scope Management
o The process of creating s scope management plan that documents how the project scope will be
defined, validated, and controlled. o The key benefits of this process is that it provides guidance and direction on how scope will be
managed throughout the project. o Scope Management Plan:
It can be formal or informal, broadly framed or highly detailed, based on the needs of the
project.
o Requirements Management Plan:
Describes how requirements will be analyzed, documented, and managed
Collecting Requirements
o The process of determining, documenting, and managing stakeholder needs and requirements to
meet project objectives.
Define Scope
o The Process of developing a detailed description of the project and product
Create WBS:
o The process of subdividing project deliverables and project work into smaller, more manageable
components.
Validate Scope
o The process of formalizing acceptance of the completed project deliverables
Control Scope:
o The work monitoring the status of the project and product scope and managing changes to the
scope baseline.
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing
Group
Process
Monitoring and
controlling Group
Process
Closing Group
Process
Project Scope
Management
Plan Scope
Management
Collect Requirements
Define Scope
Create WBS
Validate Scope
Control Scope
Al-Qahtani,R.A | P a g e 11
Chapter outline: ☑ Project Time Management
☑ What will be Developed from Project
Time Management?
☑ Network Diagram
Project Time Management
PROJECT TIME MANAGEMENT
o Includes the processes required to manage the timely
completion of the project.
What will be Developed from Project Time Management?
Plan Schedule Management
o The process of establishing the policies, procedures, and documentation for planning,
developing, managing, executing, and controlling the project schedule.
Define Activities
o The process of identifying and documenting the specific actions to be performed to produce the
project deliverables.
o Milestone List
A Milestone is a significant point or event in a project.
A milestone list is a list identifying all project milestones and indicates whether the
milestone is mandatory or optional.
Milestones are similar to regular schedule activities, with the same structure and
attributes, but they have zero duration because milestones represent a moment in time.
Sequence Activities
o The process of identifying and documenting relationships among the project activities.
o The tools that using here:
Activity-on-node (AON)
is one method of representing a precedence diagram. This is the method used by
most project management software packages.
Precedence Diagramming Method (PDM):
is a technique used for constructing a schedule model in which activities are
represented by nodes and are graphically linked by one or more logical
relationships to show the sequence in which the activities are to be performed.
includes four types of dependencies or logical relationships.
o A predecessor activity is an activity that logically comes before a
dependent activity in a schedule.
o A successor activity is a dependent activity that logically comes after
another activity in a schedule.
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing
Group
Process
Monitoring and
controlling Group
Process
Closing Group
Process
Project Time
Management
Plan Schedule
Management
Define Activities
Sequence Activities
Estimate Activity
Resources
Estimate Activity
Durations
Develop Schedule
Control Schedule
Control Scope
Al-Qahtani,R.A | P a g e 12
Finish-to-start (FS). A logical relationship in which a successor
activity cannot start until a predecessor activity has finished.
Finish-to-finish (FF). A logical relationship in which a successor
activity cannot finish until a predecessor activity has finished.
Start-to-start (SS). A logical relationship in which a successor
activity cannot start until a predecessor activity has started.
Start-to-finish (SF). A logical relationship in which a successor
activity cannot finish until a predecessor activity has started.
o Leads and Lags
A lead is the amount of time whereby a successor activity can be advanced with respect
to a predecessor activity.
A lag is the amount of time whereby a successor activity will be delayed with respect to a
predecessor activity.
Estimate Activity Resources
o The process of estimating the type and quantities of material, human resources, equipment, or
supplies required to perform each activity.
Estimate Activity Durations
o The process of estimating the number of work periods needed to complete individual activities
with estimated resources.
Develop Schedule
o The process of analyzing activity sequences, durations, resource requirements, and schedule
constraints to create the project schedule model.
o Schedule Baseline
is the approved version of a schedule model that can be changed only through formal
change control procedures and is used as a basis for comparison to actual results
Control Schedule
o The process of monitoring the status of project activities to update project progress and manage
changes to the schedule baseline to achieve the plan.
EXERCISE DATA:
o Your project planning so far has resulted in estimates as showing below in the table
o Please draw the network diagram and write down how many paths in this diagram showing which
one is the critical path
Activity Predecessor Duration in weeks
Start None 0
A Start 4
B A 2
C B 10
D A 15
E C 16
F C 16
G C 15
H F 6
I G 9
J H, I 1
K D, E, J 6
Al-Qahtani,R.A | P a g e 13
There are 4 paths through this network:
o Start, A,D, END total 25 weeks
o START, A,B,C,E,K, END total 38 weeks
o START, A, C, F, H, J, K, END total 45 weeks
o START, A, B, C, G, I, J, K, END total 47 weeks “critical path”
sta
rt A K J
I
H
G
C B
E
D
F En
d
Al-Qahtani,R.A | P a g e 14
Chapter outline: ☑ Project Cost Management
☑ What will be developed from Project
Cost Management ?
Project Cost Management
PROJECT COST MANAGEMENT
Includes the processes involved in planning, estimating,
budgeting, financing, funding, managing, and controlling
costs so that the project can be completed within the
approved budget.
What will be Developed from Project Cost Management?
Plan Cost Management
o The process that establishes the policies, procedures, and documentation for planning, managing,
expending, and controlling project costs.
Estimate Costs
o The process of developing an approximation of the monetary resources needed to complete
project activities.
Determine Budget
o The process of aggregating the estimated costs of individual activities or work packages to
establish an authorized cost baseline.
Control Costs
o The process of monitoring the status of the project to update the project costs and managing
changes to the cost baseline.
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing
Group
Process
Monitoring and
controlling Group
Process
Closing Group
Process
Project Cost
Management
Plan Cost
Management Estimate Costs
Determine Budget
Control Costs
Al-Qahtani,R.A | P a g e 15
Chapter outline: ☑ Project Quality Management
☑ What will be developed from Project
Quality Management
☑ Quality Management Diagrams
Project Quality Management
PROJECT QUALITY MANAGEMENT
Project Quality Management includes the processes and
activities of the performing organization that determine
quality policies, objectives, and responsibilities so that the
project will satisfy the needs for which it was undertaken. Project
Quality Management uses policies and procedures to implement, within the project’s context, the
organization’s quality management system and, as appropriate, it supports continuous process
improvement activities as undertaken on behalf of the performing organization.
Project Quality Management works to ensure that the project requirements, including product
requirements, are met and validated.
What will be Developed from Project Quality Management?
Plan Quality Management
o The process of identifying quality requirements and/or standards for the project and its
deliverables and documenting how the project will demonstrate compliance with quality
requirements.
o Cost of Quality (COQ)
Cost of quality includes all
costs incurred over the life
of the product by investment
in preventing
nonconformance to
requirements appraising the
product or service for
conformance to
requirements, and failing to
meet requirements (rework).
Failure costs are often
categorized into internal
(found by the project) and
external (found by the
customer).
Failure costs are also called cost of poor quality.
Perform Quality Assurance
o The process of auditing the quality requirements and the results from quality control
measurements to ensure that appropriate quality standards and operational definitions are used.
o Quality Checklists
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing
Group
Process
Monitoring and
controlling Group
Process
Closing Group
Process
Project Quality
Management
Plan Quality
Management Perform Quality
Assurance
Control Quality
Al-Qahtani,R.A | P a g e 16
A checklist is a structured tool, usually component-specific, used to verify that a set of
required steps has been performed.
Control Quality
o The process of monitoring and recording results of executing the quality activities to assess
performance and recommend necessary changes.
Al-Qahtani,R.A | P a g e 17
Chapter outline: ☑ Project Human Resource Management
☑ What will developed from project
Human resource management t
Project Human Resource Management
PROJECT HUMAN RESOURCE MANAGEMENT
includes the processes that organize, manage, and lead the
project team.
The project team is comprised of the people with assigned
roles and responsibilities for completing the project. Project team members may have varied skill sets,
may be assigned full or part-time, and may be added or removed from the team as the project progresses.
Project team members may also be referred to as the project’s staff. Although specific roles and
responsibilities for the project team members are assigned, the involvement of all team members in
project planning and decision making is beneficial. Participation of team members during planning adds
their expertise to the process and strengthens their commitment to the project.
What will be Developed from Project Human Resource Management?
Plan Human Resource Management
o The process of identifying and documenting project roles, responsibilities, required skills,
reporting relationships, and creating a staffing management plan.
o Organization Charts and Position Descriptions
Hierarchical-type charts
The traditional organization chart structure can be used to show positions and
relationships in a graphical, top-down format. Work breakdown structures (WBS)
designed to show how project deliverables are broken down into work packages
provide a way of showing high-level areas of responsibility.
Matrix-based charts
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing
Group Process
Monitoring and
controlling
Group Process
Closing Group
Process
Project Human
Resource
Management
Plan Human Resource
Management
Acquire Project Team
Develop Project Team
Manage
Project Team
Al-Qahtani,R.A | P a g e 18
A responsibility assignment matrix (RAM) is a grid that shows the project
resources assigned to each work package. It is used to illustrate the connections
between work packages or activities and project team members.
Text-oriented formats.
Team member responsibilities that require detailed descriptions can be specified
in text-oriented formats. Usually in outline form, the documents provide
information
Acquire Project Team
o The process of confirming human resource availability and obtaining the team necessary to
complete project activities.
Develop Project Team
o The process of improving competencies, team member interaction, and overall team environment
to enhance project performance.
Manage Project Team
o The process of tracking team member performance, providing feedback, resolving issues, and
managing changes to optimize project performance.
Al-Qahtani,R.A | P a g e 19
Chapter outline: ☑ Project Communication Management
☑ What will be developed from project
Communication Management
☑ Communication models
Project Communication Management
PROJECT COMMUNICATIONS MANAGEMENT
Project Communications Management includes the
processes that are required to ensure timely and appropriate
planning, collection, creation, distribution, storage, retrieval,
management, control, monitoring, and the ultimate disposition of project information.
Project managers spend most of their time communicating with team members and other project
stakeholders, whether they are internal (at all organizational levels) or external to the organization.
Effective communication creates a bridge between diverse stakeholders who may have different cultural
and organizational backgrounds, different levels of expertise, and different perspectives and interests,
which impact or have an influence upon the project execution or outcome.
What will be Developed from Project Communication Management?
Plan Communications Management
o The process of developing an appropriate approach and plan for project communications based
on stakeholder’s information needs and requirements, and available organizational assets.
o Communication Models
Encode
Thoughts or ideas are translated (encoded) into language by the sender.
Transmit Message
This information is then sent by the sender using communication channel
(medium). The transmission of this message may be compromised by various
factors (e.g., distance, unfamiliar technology, inadequate infrastructure, cultural
difference, and lack of background information). These factors are collectively
termed as noise.
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing Group
Process
Monitoring and
controlling Group
Process
Closing
Group
Process
Project
communication
Management
Plan Communications
Management
Manage
Communications
Control
Communications
Feedback
Al-Qahtani,R.A | P a g e 20
Decode.
The message is translated by the receiver back into meaningful thoughts or ideas.
Acknowledge.
Upon receipt of a message, the receiver may signal (acknowledge) receipt of the
message but this does not necessarily mean agreement with or comprehension of
the message.
Feedback/Response.
When the received message has been decoded and understood, the receiver
encodes thoughts and ideas into a message and then transmits this message to the
original sender.
Manage Communications
o The process of creating, collecting, distributing, storing, retrieving and the ultimate disposition of
project information in accordance with the communications management plan.
Control Communications
o The process of monitoring and controlling communications throughout the entire project life
cycle to ensure the information needs of the project stakeholders are met.
The communication activities involved in these processes may often have many potential
dimensions that need to be considered, including, but not limited to:
o Internal (within the project) and external (customer, vendors, other projects, organizations, the
public)
o Formal (reports, minutes, briefings) and informal (emails, memos, ad-hoc discussions;)
o Vertical (up and down the organization) and horizontal (with peers;)
o Official (newsletters, annual report) and unofficial (off the record communications); and
o Written and oral, and verbal (voice inflections) and nonverbal (body language).
Al-Qahtani,R.A | P a g e 21
Chapter outline: ☑ Project Risk Management
☑ What will be developed from project
risk management
Project Risk Management
PROJECT RISK MANAGEMENT
Project Risk Management includes the processes of
conducting risk management planning, identification,
analysis, response planning, and controlling risk on a project.
The objectives of project risk management are to increase
the likelihood and impact of positive events, and decrease the likelihood and impact of negative events
in the project.
What will be Developed from Project Risk Management?
Plan Risk Management
o The process of defining how to conduct risk management activities for a project.
Identify Risks
o The process of determining which risks may affect the project and documenting their
characteristics.
Perform Qualitative Risk Analysis
o The process of prioritizing risks for further analysis or action by assessing and combining their
probability of occurrence and impact.
Perform Quantitative Risk Analysis
o The process of numerically analyzing the effect of identified risks on overall project objectives.
Plan Risk Responses
o The process of developing options and actions to enhance opportunities and to reduce threats to
project objectives.
Control Risks
o The process of implementing risk response plans, tracking identified risks, monitoring residual
risks, identifying new risks, and evaluating risk process effectiveness throughout the project.
Knowledge Area Initiation
Group
Process
Planning Group
Process
Executing Group
Process
Monitoring and
controlling Group
Process
Closing
Group
Process
Project Risk
Management
Plan Risk
Management
Identify Risks
Perform Quantitative
Risk Analysis
Plan Risk Responses
Control Risks
