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Project and Risk Management Life Cycles
September 26, 2008 | Author: PM Hut | Filed under: Project Lifecycle Phases, Risk Identification, Risk Management, Risk Response & Control
Project and Risk Management Life Cycles
By Tom Carlos (PMP)
The Risk Management Life Cycle is comprised of the following:
Risk Planning Life Cycle
- Preliminary Risk Management Plan is implemented in the Project Initiating Phase
- Approved Risk Management Plan is implemented in the Project Planning Phase
- Updating the Risk Management Plan is implemented through the rest of the Project Life Cycle
Risk Identification and Response Planning
- Done at regular intervals, throughout the entire project life cycle
- When changes are made to the deliverables, project plan, or the baseline(s)
- Upon completion of major milestones or schedule check points
Risk Monitoring and Control
- Done at regular intervals, throughout the entire project life cycle
- In Reports, Status Meetings, Executive Briefings
- In Quality Control Reviews
Tom Carlos has over 20 years of cumulative experience in business, technical, and training environments. He is a Certified Project Management Professional (PMP) and member of the Sacramento Valley PMI Chapter. For other articles on similar subjects, you can visit www.carlosconsulting.com or contact him at tom@carlosconsulting.com.
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