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Successful Project Management by Michael S. Dobson

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6

Managing Risk and Quality

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Learning Objectives

By the end of this chapter, you should be able to:

• Describe how risk and quality relate to other project constraints.

• Define the concept of risk in project management.

• List the steps in the risk management process, including:

• Define risk, risk management threat, opportunity, business risk, pure risk, risk tolerance, risk thresholds, residual risk, and secondary risk as they relate to project planning.

• Describe the fundamental formula of risk and its role in calculating expected monetary value and preparing decision trees.

• Develop a risk management policy based on templates.

• List ...

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