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Figure 21:Plan Risk Management: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), (5th Edition)" by Project Management Institute, 2013, p. 313. Newton Square, PA: Project Management Institute, Inc. Reprinted without permission
Figure 21: Plan Risk Management above depicts all the possible inputs tools and techniques resulting in Risk management plan.
11.1 Plan Risk Management
11.1 Plan Risk Management
Process Definition
Process Definition
Risk management process is to conduct risk activities for a project. Risk management's purpose is to prepare for uncertainties through the identification of possibilities, which might or might not occur. Part of Risk management is to educate and enlist stakeholders in the discovery of potential vulnerabilities or negative consequences that might happen. In the same breath, a risk plan might uncover or identify opportunities to exploit positive events to streamline or reduce scope, schedule, or costs. Part of risk management planning establishing a framework within the project or product to organize against chaos and uncertainty. The project charter sets the tone of the project by establishing a high-level framework of expectations, scope requirements, and project descriptions.
Process Assessment Risk is inherited in all activities. Risk planning's mission is to lessen the negative impacts of and take advantage of opportunities. In other words, plan for the worst and hope for the best, and have countermeasures in place to mitigate, monitor, and control processes that go south.
Process Assessment Risk is inherited in all activities. Risk planning's mission is to lessen the negative impacts of and take advantage of opportunities. In other words, plan for the worst and hope for the best, and have countermeasures in place to mitigate, monitor, and control processes that go south.
Plan Risk Management 11.1.1
Plan Risk Management 11.1.1
Input
Input
The team charter created in PGMT 613, outlines the expected behaviors and responsibilities of all team members along with a signature page to confirm agreement to all the terms contained in the team charter. This sets the stage and is an input to this process.
11.1.2
Tools and Techniques
This document was part of PGMT 612, summarizes all the methods and techniques, and tools utilized to identify risk.
11.1.3
Outputs
Risk management plan was created in PGMT 613, to address risk and is an output of this process.
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