Can you help me expand on this paragraph with details abouteach area with exampl
ID: 3843860 • Letter: C
Question
Can you help me expand on this paragraph with details abouteach area with examples.
A risk as a cause and if it occurs a consequence. Risk identifies it an iterative process. Objective is to decrease the probability and impact of negative events in vice versa.
Risk management planning - deciding on how to approach plan and execute risk management activities for a project.
Risk identification - determining which risk can affect the project and documenting their characteristics.
Qualitative risk analysis - prioritizing risks for subsequent further analysis or action by assessing in combining their probability of occurrence and impact.
Quantitative risk analysis - numerically and analyzing the effect on overall project objectives of identified risks.
Risk response planning - Developing options and actions to enhance Ops and reduce threats to project objectives.
Risk monitoring and control - tracking identified, risks monitoring residual risk, identifying new risks, executing risk response plans and evaluating the effectiveness through the Project Life Cycle.
Risk management register - the register is the essential to the management of risk. As risks are identified they should be logged on the register in action should be taken to respond to the risk.
Explanation / Answer
The most planned and carefully handled project can also run into trouble. A risk is any uncertain event or condition that will affect your project in negative aspects.
Risk Management Planning
Risk Identification:
Qualitative Risk Analysis
Quantitative Risk Analysis:
Risk Response Planning:
Risk Monitoring & Control:
There are a list of actions that an organization processes as a part of the monitoring and controlling risks. They are as follows:
Risk Management Register:
The risk management registers help in removing and updating the risks and identify the proper and effective actions that should be taken to the risk factor. They consists of some steps. They are as follows:
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