Risk Management Flashcards Preview

Project Management Final > Risk Management > Flashcards

Flashcards in Risk Management Deck (5)
Loading flashcards...
0

Steps to risk management

1. Risk identification
2. Risk assessment
3. Risk response development
4. Risk response control

1

Diagramming techniques to identify risks

Fishbone
Flow chart
Cause and effect diagram
Draw them.

2

What is a risk matrix

Likelihood and impact axes
There are three zones:
Red major risk
Yellow moderate risk
Green minor risk

3

Three techniques for mitigating risk

Transferring risk
Sharing risk
Retaining risk (acceptance)

4

SMART goals

Specific
Measurable
Assignable
Realistic
Time related