Identifying the risk

Identifying the risk

Steps involved.
Brain storming among the all team members
Identify all the possible risks involved
Discuss the project from each perspective.
Definition:
Identify all the things which can resist the
project performance is the first step identifying
the risk.
Assessing the Risk
It refers to the calculation of the probability
that a certain risk will occur or not , and its
impact.
Steps involved in this step:
The probability that the certain risk will
occur.
Impact of risk on the project.
Planning the risk response
The process se
After calculating the proper probability of the
occurrence of the risk we shell determine
some response for that risks.
It include some precautions to reduce the
expected risk
Certain measures are taken for that purpose
for example making contract or always keep
an option.
Monitoring and control

Risk Monitoring and Control

Risk monitoring and control is required in order to:
Ensure the execution of the risk plans and evaluate their
effectiveness in reducing risk.
Keep track of the identified risks, including the watch list.
Monitor trigger conditions for contingencies
Monitor residual risks and identify new risks arising
during project execution.
Update the organizational process assets.


The purpose is to determine if:
Risk responses have been implemented as planned.
Risk response actions are as effective as expected or if
new responses should be developed.
Project assumptions are still valid.
Risk exposure has changed from its prior state, with
analysis of trends.
A risk trigger has occurred.
Proper policies and procedures are followed.
New risks have occurred that were not previously
identified.