GRA 530 Chapter Notes -Early Start, Guesstimate, Product Lifecycle
7 Dec 2012
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Document Summary
Chapter 5 risk management: minimize the threats to your project. Risk management is the means by which uncertainty is systematically managed. Known unknowns: identified possible problems that may interfere with the project. Unknown unknowns: problems you just can"t see coming. The ways risk management relates to pm: project definitions. Risk surface when the project is conceived, and are initially listed as assumptions: project planning. Rm is one of the major ongoing components; in addition to schedule and budget development: project control. Business risk is inherent to every business projects and the owner of the project is responsible for it: selecting the right project, selecting a topic that is too far fetch and getting no response. Project risk is aspects of the project that the pm is in charge of managing to ensure the project is completed: managing uncertainty to manage stakeholders objectives. Rm process throughout the project (fig 5. 2: identify risks. Think about what could effect the stakeholders.
