Chapter 1: Identifying What Could Go Wrong
Create a risk management plan that provides guidance for identifying, analyzing, prioritizing, and developing response strategies to manage uncertainty throughout the project.
Risk is centered on the concept of uncertainty. When uncertainty can lead to negative effects on your project, that’s a threat. Comparatively, when uncertainty can lead to positive effects on your project, that’s an opportunity. And face it: Projects will never have the same degree of certainty that day-to-day operations have. Therefore, spend some time thinking about how to proactively address uncertainty. After all, that’s what project risk management is all about — planning how to get in front of the uncertainty and reduce it. As for the uncertainty that you can’t reduce, you can at least think about and develop an approach for handling it.
Five distinct processes are associated with risk in the planning process group:
Planning for risk management: Defining how you approach the risk management process, including the techniques, methods, and degree of rigor that you will apply.
Identifying risks: Taking a methodical approach to finding all the events ...