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A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fifth Edition by Project Management Institute

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11

PROJECT RISK MANAGEMENT

Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project. The objectives of project risk management are to increase the likelihood and impact of positive events, and decrease the likelihood and impact of negative events in the project.

Figure 11-1 provides an overview of the Project Risk Management processes, which are as follows:

11.1 Plan Risk Management—The process of defining how to conduct risk management activities for a project.

11.2 Identify Risks—The process of determining which risks may affect the project and documenting their characteristics.

11.3 Perform Qualitative Risk Analysis—The process of ...

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