Risk Management Process
By Tom Carlos (PMP)
The Risk Management Process consists of the following steps:
- Risk Identification
An iterative process of identifying which risks might affect the project
Agreement that the risk is applicable to the project.
Process of determining the probability and impact of a risk. Methods include Qualitative and Quantitative Analysis
Risk Response Planning
Process of developing options and determining actions to reduce threats
Monitoring and Control
Process of continuously observing the project and risks, Monitoring the trigger events that call for utilization of Contingency Plans
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 email@example.com.
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