Project Risk Management

Learn Project Risk Management From The Best

Almost all projects come with a certain degree of risk, complexity, and uncertainty. However, despite these hurdles, businesses must undertake most projects to grow and develop further. This puts a huge burden on project managers, who are required to mitigate these risks to ensure the best outcomes.

Luckily, several project management approaches and practices can help you reduce these risks while delivering project objects more effectively—our project risk management training online is one of them.

Planning Responses:

• Strategies for managing negative risk or threats are:
  • Avoidance – involves changing the project management plan
  • Transfer -Transfer the risk effects “to a third party”
  • Mitigation – Implies a reduction of probability and/or impact of an adverse risk event to an “acceptable” threshold
  • Acceptance – Do nothing
• Contingent response strategy tries to combine risk responses and conditions under which the occurred risk shall be responded
• Risk Triggers – When will the risk become an issue (date)? i.e. when will the schedule, scope or cost be impacted?

­(comp. PMBOK3, pp. 261ff)