:fire:TOPIC 3 IT PROJECT MANAGEMENT:fire: RISK MANAGEMENT PLAN - Coggle…
TOPIC 3 IT PROJECT MANAGEMENT
RISK MANAGEMENT PLAN
1. Identify risks
Break down the big picture
Consult an expert
Conduct internal research
Conduct external research
Seek employee feedback regularly
Analyze customer complaints
Use models or software
2. Analyze risks
Determining each risk’s likelihood or probability of occurring, as well as rating its impact on the project.
Helps team leaders to make decisions with reduced uncertainty, and supports the process of controlling risks.
3. Create risk response plans
Avoid. Eliminate the threat or protect the project from its impact.
Transfer. This involves moving the impact of the risk to a third party.
Mitigation. Reduce the probability or impact of the risk.
Accept. All projects contain risk.
4. Monitor risks
Reassessing project risks
Auditing for risks
Analyzing risk trends
Reserve budget & schedule analysis