This video provides you with considerations to review when contemplating if a risk response action should be taken on your project.
- Author Mandy Hale has said,…"Pick your battles.…"You don't have to show up…"for every argument you're invited to."…So it goes with project risk responses.…Executing every risk response action all the time…will drive everyone crazy…and take up precious time and money.…Project managers who understand…when to execute a risk response and when to hold off…are the most effective when managing their projects.…There are three ways to approach the execution…of your risk response actions.…
The first is to execute proactively.…For example, in a component design and assembly project,…you may believe there's a risk…in making a telephone component out of fiberglass…because you may need a solution that's going to be more rigid.…So using steel to make the component…has been proposed as a response action.…You can address this risk proactively by spending the money…and time to have sample fiberglass components…manufactured ahead of time.…From these samples, you can determine…if the rigidity risk is likely to occur.…
Basically, you're trying to balance your triple constrains,…
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.