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Browsing All posts tagged under »Plan Risk Responses«
Secondary Risk versus Residual Risk
Synonymous term or a different term, that’s a common question we receive in our course delivery for secondary versus residual risks. Those two terms do sound quite a bit a like. Are they? They’re similar concepts but are different! Secondary risk occurs once a risk event triggers and the appropriate management response strategy deployed. The […]
Risk Treatment
May 4, 2010 by tapuniversity
Selecting how to respond to specific risks is called Risk Treatment. This may also include writing a plan and actually implementing these responses. Risk Treatment is not a term found in the fourth-edition PMBOK® but the concept is there nonetheless. The PMBOK’s Plan Risk Responses process is where one selects how to respond to individual […]
Plan Risk Responses Process
April 9, 2009 by tapuniversity
Plan Risk Responses is one of the 42 project management processes described in the fourth edition PMBOK®. It’s one of the six Risk knowledge area processes, and one of the twenty Planning processes. The purpose of this process is to develop plans to minimize threats (negative risk) and maximize opportunities (positive risk). The Risk Register, […]
Positive Risk Strategies
April 1, 2009 by tapuniversity
For a project manager, a risk is an uncertain event. This potential event could be either desired (positive) or undesired (negative). A positive risk may be referred to as an opportunity, and a negative risk may be referred to as a threat. There are three unique strategies used for handling positive risk (exploit, share, and […]
Negative Risk Strategies
March 31, 2009 by tapuniversity
For a project manager, a risk is an uncertain event. This potential event could be either desired (positive) or undesired (negative). A positive risk may be referred to as an opportunity, and a negative risk may be referred to as a threat. There are three unique strategies used for handling negative risk (avoid, transfer, and […]
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December 28, 2010 by Dave Kohrell
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