This video gives you hints and tips for prioritizing your risks, so you can address them in an efficient manner, given the specific project you are managing and the concerns of your primary stakeholders.
- I hate spiders but I think snakes are pretty cool.…My wife however, is terrified by both of them.…Eliminating either of these critters in my yard…is a high priority for her.…However, I'd rather leave the snakes…and get rid of the spiders.…Our priority for risks is different.…A similar situation will take place on your projects.…It's important to remember that your stakeholders,…sponsors, and project team may want you…to treat risks differently.…
Here are the steps you can take…to make sure you and your risk sensitive stakeholders…will be aligned when it comes…to managing your project risks.…First, split your risks into impact type.…Time impacts, scope impacts, and cost impacts.…Once you've done this, consider your stakeholders'…tolerance for these three types of risk.…Second, consider prioritizing your risks…to ensure the impact type with the lowest…stakeholder tolerance gets a high priority.…
By understanding the sensitivities of your stakeholders…and sponsor and adjusting the way you prioritize things,…you'll have an easier time managing risk on your project.…
Note: This course follows the latest guidance from Project Management Institute, Inc., as outlined the PMBOK® 6 Guide.
- Explore why dealing with risks needs to be part of the everyday process used to manage a project.
- Learn to outline the most common, pragmatic approaches to identifying risks specific to a project.
- Recall methods for qualifying and quantifying your risks to determine specific risks and manage their costs.
- Examine the primary considerations for a project risk plan and what components should be included in every plan.
- Assess techniques that help you identify the overall risk a project presents to your business.
- Examine several risk analysis and filtering examples that help ensure you've addressed individual risks properly on your project.