This video examines the primary considerations for determining the type(s) or risk responses that will be most suitable for a specific risk and incorporating risks into a risk plan for your particular project.
- I have a problem.…I love building risk plans,…but sometimes I forget I have those plans…when I get into the day to day excitement…of project execution.…So, how do I ensure the risk activities I plan for…are executed when I need them?…The answer is create a risk response plan,…a document that captures your risks,…the analysis you've performed,…and guides your actions going forward.…Let's talk about what to include…in your risk response plan.…
First, the risk response plans lists your risks,…including identified risk causes,…descriptions, and potential impacts.…Second, include your qualitative and quantitative…analysis results and your response plan…for each risk.…You may include a primary and secondary…risk response plan if appropriate.…Third, include contingency reserve funds…that have been allocated.…If you have risks that include contract-related actions…you'll discuss with your vendors,…note these as well.…
After these fundamentals are in your risk response plan,…these additional elements…can turn a risk response plan…
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.