This video describes how you can, and should, determine your approach to risk management based on the perspectives and views of your primary project stakeholders.
- World renowned boxer Muhammad Ali said,…"He who is not courageous enough to take risks…"will accomplish nothing in life."…Now, his idea of risk, however, may be different…than yours and mine.…After all, he used to step into the boxing ring…with someone trying to knock his head off.…Most project managers don't want anything…to do with being in a boxing ring,…but they're happy to tolerate other risks.…So, how do you find out about your…stakeholder's risk tolerance?…First, be prepared that your stakeholders, sponsors,…and the people on your project team will each…tolerate risk differently.…
Some people might actually step into that boxing ring…while others are cautious just walking down stairs.…And there's everyone in between.…You need to take this into consideration…when you talk about risk in your project.…The key is to always listen carefully…as you discuss elements of your project.…The second thing to keep in mind…is that people have business motivations to protect…scope, time, or money when these constraints are discussed.…
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.