Risk Management 1. Risk Management Planning Input: Organizational Process Assets Enterprise Enviromental Factors Project Management Plan Project Scope Statement Tools:Planning Meetings and Analysis Output: Risk Management Plan(who, how, how often), in Risk Management Plan, come up with RBS(Risk Breakdown Structure), then Avoided/Mitigated/Transferred/Accepted the risk 2. Risk Identification Input: Risk Management Plan Project Management Plan Project Scope Statement Organizational Process Assets Enterprise Environmental Factors Tools: Information Gathering Techniques(Gathering information from people and making sure it's right)which includes: Brainstorming, Interviews, The Delphi technique,get opinions and ideas from experts anonymously SWOT analysis(strengths,weaknesses,opportunities,and threats) Root cause identification Documentation reviews Assumptions analysis Checklist analysis Diagramming techniques Output: Risk Register 3. Qualitative Risk Analysis(ranking risk based on probability and impact) Input: Organizational Process Assets Risk Register Risk Management Plan Project Scope Statement Tools: Risk data quality assessment Risk categorization Risk urgency assessment Risk probability and impact assessment Probability and impact matrix Output: updated risk register(add columns Category,Priority,Urgency) 4. Quantitative Risk Analysis(ranking risk based on probability and impact) Input: Organizational Process Assets Risk Register(after qualitative analysis) Project Management Plan Risk Management Plan Project Scope Statement Tools: EMV(Expected Monetary Value) Decision Tree Analysis Output: updated Risk Register 5. Risk Response planning Input: Risk Register Risk Management Plan Tools: strategies for handling negative risk,avoid&mitigate&transfer&acceptstrategies for handling positive risk,Exploit&share&enhance&accept Output: add risk response to the register(risk owner,response) project management plan update scontract updates 6. Risk Monitoring and Conrol process Input: Risk Register Project Management Plan Approved Change Requests Work Performance Information Performance Reports Tools: Risk reassessment Variance and trend analysis Reserve analysis Risk audits Technical performance measurement Status meetings Output: Risk Register Updates Project Management Plan Updates Requested Changes Organizational Process Assets Recommended Corrective Actions Recommended Preventative Actions