This video discusses the concept of a risk trigger; including what they are, how to derive them, and how to use them effectively to manage risk in your project environment.
- Good project risk managers resemble park rangers.…Park rangers construct towers to keep an eye…on the landscape, looking for signs of trouble.…This works well because where there's smoke,…there's usually fire.…You should do the same thing.…As smoke is the warning sign for fire,…I suggest you spend time…thinking of what are called risk triggers,…early warning signs like smoke…that indicate a project risk is about to become a reality.…
Let's look at two common types of risk trigger.…The first type of risk trigger…is one that gives you an immediate indication…that a risk may be happening.…You may have technical experts…that are going to join your project…at some point downstream.…You request these technical experts…to start attending status meetings…one month before they're due to start…so they can hit the ground running…and know what's happening on the project.…The time for them to participate has arrived,…you remind them of their commitment,…and they don't show up for the status meeting.…
This is a likely risk trigger that other priorities…
Author
Bob McGannon
Released
12/13/2018Note: 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.
Skill Level Intermediate
Duration
Views
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Introduction
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Risk: The beast to tame1m 12s
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1. Create a Risk Plan
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Stakeholder's risk tolerance3m 15s
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2. Identify Project Risks
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Risk identification methods3m 22s
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Risk records and registers3m 25s
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3. Analyze Project Risks
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4. Respond to Project Risks
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Common risk responses3m 13s
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Write your risk plan3m 13s
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Understand risk triggers3m 17s
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5. Monitor and Control Project Risks
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Risk management in reporting3m 10s
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Assess overall project risk3m 25s
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Agile risk management3m 5s
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6. Risk Management in the Real World
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Risk identification3m 22s
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Risk analysis3m 16s
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Risk response3m 13s
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Conclusion
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Your risk management toolkit2m 26s
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Video: Understand risk triggers