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Project Management Blog
Saturday, 27 January 2007 17:09

Risk Factors

One of the first inputs to risk management is the project charter. The charter is needed in risk management planning because it identifies the business need of the project and the overall product description. Risks that can prevent the project from satisfying the business need of the project must be addressed. The product description must also be evaluated to determine what risks may be preventing the project work from obtaining the acceptable product description. 

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Saturday, 27 January 2007 17:06

Risk Planning & Analysis

Risk analysis is a technique to identify and assess factors that may jeopardize the success of a project or achieving a goal. This technique also helps define preventive measures to reduce the probability of these factors from occurring and identify countermeasures to successfully deal with these constraints when they develop.

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Saturday, 27 January 2007 17:05

Project Risk Management

Risk Management is the process of measuring, or assessing risk and then developing strategies to manage the risk. In general, the strategies employed include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk. The Risk Management Plan (RMP) is the document prepared by a Project manager to foresee risks, to estimate the effectiveness and to mitigate them.

 

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