An accurate assessment of what has been accomplished and what is yet to be accomplished.
An end state project schedule
A complete list of risks.
A resource Histogram of the completed project
Ownership of the risks that are identified
Appointment of the project manager early in the process to manage the identified risks
Clear visibility of the information needed for decision making
Project team members who are trained in risk and understand its causes to help construct and implement risk mitigation strategies
Project team knowledge
Lessons learned databases
Risk quantification strategies
Identified schedule and cost risks
Cumulative EMV of the most critical risks
Risk data assembled for the management of the project.
A pro-active planned method of responding to risks.
A specific response to certain types of risk as described in the risk management plan.
A plan of action to follow when something unexpected happens
An unplanned response to negative risk events
Reassessment to detect changes in risk during a system's development
Explicit attention to technical risk, not just to schedule or cost risk
Critical path analysis
Planned procedures for completing project activities
Identifies all the work that must be done and therefore helps identify potential sources of risk.
Identifies all the work that must be done and therefore includes all the risks on the project.
Helps organize all the work that must be done on the project
Identifies work packages, which enables specific responsibility to be assigned.
Focuses on eliminating the elements that are creating the risk.
Accepts the consequences of the risk event should it occur
Includes making the decision not to bid on a project in which the risk exposure is believed to be too high.
Includes leaving the risk with the customer when the customer is in the best position to mitigate the risk
The Delphi method
Technical, marketing, financial, and human
Identification, quantification, response development, and response control
Avoidance, mitigation, and acceptance
Avoidance, retention, control, and deflection
Be applied primarily during the concept and closeout phases and to some extent during the implementation and planning phases
Be applied throughout the project and at all levels of system decomposition and project organization
Include assembly of certain stakeholders to identify risks and develop mitigation strategies.
Focus on those risks that senior management finds most critical
Variability of the estimate
Range of schedule and cost outcomes
Product of the probability and impact of the analysis
Reduced monetary value of the risk event
Project Plan is updated
Risk event was unexpected or the the effect was greater than anticipated
Cost baseline is changed
WBS was changed
The root cause of the risk event
An input of the risk identification process
A planned risk response to be acted upon should an identified risk occur
A symptom of a risk
Poor staff assignments
Incorrect cost estimates
Using performance and payment bonds
Eliminating a specific threat by eliminating the cause
Avoiding the schedule risk inherent in the project.
Reducing the expected monetary value of a risk event by reducing the probability of the occurrence