Flashcards in ProjectRiskMgmt Processes Deck (7)
Project Risk Management
Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and monitoring and control on a project. The objectives of Project Risk Management are to increase the probability and impact of positive events, and decrease the probability and impact of negative events in the project.
Plan Risk Management
The process of defining how to conduct risk management activities for a project.
The process of determining which risks 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.
Plan Risk Responses
The process of developing options and actions to enhance opportunities and to reduce threats to project objectives