MANAGING PROJECT RICKS
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School
Brigham Young University, Idaho *
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Course
DM 160
Subject
Information Systems
Date
Apr 3, 2024
Type
pptx
Pages
4
Uploaded by shadowgirl
What is meant by mansging risk? Risk management is the continuing process to identify, analyse, evaluate, and treat loss exposures and monitor risk control and financial ressources to mitigate the adverse efforts of loss.
Identify potential risks
:
Refers to any risk associated with an action that is possible,in certain circumstances.
Monotoring and Rewiewing the Risk: Monotoring and review are two different and complementary activities, since monotoring involves the routine surveillance of actual performance, while review involves periodic checking of the the current situation for changes in the internal /external context.
Analysing the Risk
: Involves examining how project outcomes and objectivesmight change due to the impact of the risk event. Once the risks identied.
Evaluating the Risk
: Is concerned with issues relating to how those affected by risks perceived problem and the trade –off between the perceived risks and benefits.
Treating the Risk: Risk treatment measures can include avoiding, Optimizing, transferring or retaining risk.
Project Risk Management Roles ?
•
Engage stakeholders to identify risks.
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Engage stakeholders to evaluate risks.
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Help risk owners develop risk response plan.
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Ensure that risk response plans are executed by the risk owners at the appropriate time.
•
Facilitate risk reviews and risk audits.
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QUESTIONS
1- What is the risk management of the project?
2- What are the types of project risk?
3- what is the purpose of managing project risks?