Risk Management
•Description This includes risk management planning, identification, analysis, response planning, monitoring and controlling. Risks are always in the future and can have impacts on cost, schedule and performance if the risk occurs. There are methods to manage risk including, avoidance, acceptance, transfer and ignore.
•Why it is important Identifying potential risks, risk impact and probability of risk early allows reduction of unwanted risks that could adversely affect the project in terms of cost, schedule, and performance.
•Tools: Documentation reviews, information gathering, checklist analysis, SWOT analysis, risk probability and impact analysis, risk data quality assessment, risk categorization, quantitative risk analysis, strategies for positive opportunities/negative threats, contingent response strategies, risk assessments, risk audits, technical performance measurements.
•How Wright Management and Consulting Group performs this task: One-on-one discussions with stakeholders/project owners, interviews, literature reviews, subject matter expert interviews, document results and use appropriate tools to define products and review with customer to fine tune, obtain written agreement to proposed plan.
•Link to other project tasks: Risk management supports the other tasks associated with project management to include, performance, quality, cost and schedule.
•Training/mentoring offered: Risk identification, recording, reporting, analysis
•Why it is important Identifying potential risks, risk impact and probability of risk early allows reduction of unwanted risks that could adversely affect the project in terms of cost, schedule, and performance.
•Tools: Documentation reviews, information gathering, checklist analysis, SWOT analysis, risk probability and impact analysis, risk data quality assessment, risk categorization, quantitative risk analysis, strategies for positive opportunities/negative threats, contingent response strategies, risk assessments, risk audits, technical performance measurements.
•How Wright Management and Consulting Group performs this task: One-on-one discussions with stakeholders/project owners, interviews, literature reviews, subject matter expert interviews, document results and use appropriate tools to define products and review with customer to fine tune, obtain written agreement to proposed plan.
•Link to other project tasks: Risk management supports the other tasks associated with project management to include, performance, quality, cost and schedule.
•Training/mentoring offered: Risk identification, recording, reporting, analysis