Managing Project Risks

In this chapter, you will

• Plan for risk management

• Identify project risks

• Complete qualitative risk analysis

• Complete quantitative risk analysis

• Plan the risk responses

• Monitor and control project risks

A project risk is an uncertain event or condition that can have a positive or negative impact on the project. That’s correct—it’s possible for a risk to have a positive impact. Risks that have a positive impact are also known as opportunities. Technically, risk isn’t a bad thing. It’s the impact that can be painful, costly, or delay the project work. Most project managers look at risk the same way they’d look at leftover shrimp cocktail. Yuck. Some risks, though, are good for the project, and the ...

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