About This Chapter
Risk Analysis & Management - Chapter Summary
This chapter goes into numerous important facets of the analysis and management of risk. You'll review relevant terminology while exploring its application as well as related strategies and examples. Topics covered include:
- Risk planning within project management
- Analyzing dependency and execution risk
- Principles of aggregate risk
- Applying cost-benefit analysis
- Managing risks at the portfolio level
- Communication within risk reporting
The practice quizzes accompanying each lesson can help you keep tabs on your understanding topic-by-topic. These printable quizzes are available whenever you feel ready and can be returned to at any point, as many times as you like. And if you ever feel stuck, you can always reach out to our professional instructors with questions via the help tab.
1. Risk Tolerance: Definition & Example
Some of us love to take on risks while others feel more comfortable taking the safe route. But how is risk handled in a business? In this lesson, we will learn about risk tolerance and how risk is managed to secure the investments of stakeholders.
2. Risk Planning for Project Management
In this lesson, we will learn about risk planning as a critical component of project management. The lesson covers various types of risks, the steps in the risk planning process and the role risk management plays in projects.
3. Risk Categorization: Internal, External & Strategic Risks
Categorizing risks can help a business identify and anticipate potential problems. In this lesson, you'll learn more about internal, external, and strategic risks and what each category represents.
4. Dependency Analysis in Portfolio Management
In this lesson we will learn about dependency analysis in project management, associated interdependencies, and risks across portfolios as an aid to decision-making.
5. Aggregate Risk Principles & Assessment
In this lesson, we will discuss the general principles for performing aggregate exposure and risk assessments for organizations. We'll also learn about evaluation and applications.
6. Execution Risk Analysis: Definition & Example
At all stages of the project portfolio, there are risks as well as the need to analyze those risks. In this lesson, you will learn about execution risk analysis and why it is useful in project and portfolio management.
7. Portfolio Risk Management & Risk Management Plan
In this lesson, learn more about portfolio risk management and what defines a portfolio risk. Understand how to maintain a portfolio level risk register and a portfolio management reserve while monitoring governance risk guidelines.
8. Risk Reporting: Communication & Techniques
In this lesson, you will learn how to communicate portfolio risks to stakeholders. Risk-reporting techniques will be discussed; these tools can help you get the attention and resources needed to reduce risk in your portfolio.
9. How to Develop a Business Case for a Project
Without a business case, your project will never get off the ground since the case contains all the reasons that your project should go ahead and receive investment. This lesson provides step-by-step instructions and what to include in your business case.
10. Project Cost Management Techniques
Project cost management techniques are designed to ensure a project stays on budget. In this lesson, we'll look at the different techniques used in estimating, monitoring, and controlling project costs.
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