Conclusion

In conclusion

• Good project risn management may be unnoticed

• This is the art of identify9ing analyzing and responding to risk throughout the life of the project

• Project management involves understanding the potential problem that might occur on the project

  • • users generally must understand what risk are

    • Risk can be analyzed Qualitatively and quantitively

• Top Ten Risk Item Tracking is a qualitative risk analysis tool

• IT projects involves a lot of risk so that is something to watch out for

• if you implement risk responses, it generally involves putting the right risk plans into action

Things to know

• Planning risk management involves deciding how to approach and plan risk management activities for the project. The main output of this process is a risk management plan.

• Identifying risks involves determining which risks are likely to affect a project and documenting the characteristics of each. The main outputs of this process are a risk register, risk report, and project documents updates.

• Performing qualitative risk analysis involves prioritizing risks based on their probability of occurrence and impact. After identifying risks, project teams can use various tools and techniques to rank risks and update information in the risk register. The main outputs are project documents updates.

• Performing quantitative risk analysis involves numerically estimating the effects of risks on project objectives. The main outputs of this process are project documents updates.

• Planning risk responses involves taking steps to enhance opportunities and reduce threats to meeting project objectives. Using outputs from the preceding risk management processes, project teams can develop risk response strategies that often result in change requests, updates to the project management plan and project documents.

• Implementing risk responses, just as it sounds, involves implementing the risk response plans. Outputs include change requests and project documents updates.

• Monitoring risk involves monitoring identified and residual risks, identifying new risks, carrying out risk response plans, and evaluating the effectiveness of risk strategies throughout the life of the project. The main outputs of this process include work performance information, change requests, and updates to the project management plan, project documents, and organizational process assets

Over view of the management process

**information captured via Information Technology Project Management 9th Edition