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Risk - Coggle Diagram

- - - - cause by cannot predict
      - address by: Monte carlo
    - - cause by lack understand
      - address by: prototype, agile
- - - - risk data quality assessment
        
        accurate, reliable?
        
        garbage in, garbage out (GIGO)
      - risk probability & impact assessment
      - risk params assessment
        
        proximity (period prior impact)
        
        dormancy (period prior result)
      - risk categorization
    - - probability & impact matrix -> risk score
      - hierarchical charts
        
        bubble chart
- - - - avoid/exploit
        
        remove
        
        extend schedule
        
        reduce scope
      - mitigate/enhance
        
        more tests
        
        choose stable seller
        
        use simple process
      - transfer/share
        
        use insurance
        
        warranties, guarantee
      - escalate
        
        outside of scope
        
        NOT in project level
        
        NOT monitor after escalate
        
        for low-priority
      - accept
        
        for low-priority
        
        active accept (add in contingency reserve)
        
        passive (do nothing)
    - - trigger plan (warning sign)
- - - - result of all processes, EXCEPT Quantitative process
      - includes: identified risks, potential owner, potential response
      - identified individual risks
    - - overall project risk
      - summary info of individual risks
      - result of all process
- - - - Monte carlo
      - sensitivity analysis
      - decision tree
      - influence diagram
- - - - stakeholder risk appetite
        
        define acceptable level of risk
      - definitions of risk probability & impacts
        
        scale, probability, time, cost, quality
      - probability & impact matrix
      - risk category
        
        technical risk (technical issues...)
        
        management risk (communication, program/protfolio...)
        
        commercial risk (term & contract, vendors...)
        
        external risk (environment, governance issue...)