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Adequate communication is essential in order to finish projects successfully. In order to gain truthful and accurate information, you need to make sure that program- or project managers are able to make rational and correct decisions. For those who have, what we call, a "high-performance mindset”, we know they prefer to work with the latest update of professional project management templates, in order to achieve their goals faster. We are certain this Project Timeline Risk Management
will be of value.
The register acts as a repository for all risks identified and includes additional details about each risk including: Identified risks Potential responses Root causes Updating risk categories (if required) PERFORM QUALITATIVE RISK ANALYSIS Risk probability and impact statement Risk Register Risk Management Plan Inputs Project Scope Statement Frequency and Severity matrix Outputs Risk Register Updates Risk data quality assessment Risk categorization Organizational Process Assets Risk urgency assessment Expert Judgement Tools Techniques Plan Risk Management Identify Risks Perform Qualitative Risk Analysis Perform Quantitative Risk Analysis Plan Risk Responses Monitor and Control Risks COMMONLY USED METHODOLOGIES Based on Failure Modes and Effects Analysis (FMEA) Frequency and Severity Matrix What-If Analysis Hazard and operability study (HAZOP) Fault tree analysis (FTA) FREQUENCY AND SEVERITY MATRIX In a typical frequency and severity matrix each risk is rated in line with the frequency rating and expected severity RISK REGISTER Typical Risk Register - Model to be aligned to the risk profile of the project RISK REGISTER UPDATE As part of the risk register updating process it is important to: Add severity and frequency matrix results Perform quality check on results Categorize the risks to make them easier to handle Perform urgency assessment (prioritization) to determine which risk need immediate attention PERFORM QUANTITATIVE RISK ANALYSIS Risk Register Risk Management Plan Inputs Data gathering and representation techniques Cost Management Plan Quantitative risk analysis and modeling Schedule Management Plan Expert Judgment Outputs Risk Register Updates Organizational Process Assets Tools Techniques Plan Risk Management Identify Risks Perform Qualitative Risk Analysis Perform Quantitative Risk Analysis Plan Risk Responses Monitor and Control Risks QUANTITATIVE RISK ANALYSIS Analyze numerically the probability and consequence of each
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