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Unformatted text preview: ACROYMNS LIST ACRONYMS LIST ACROYMNS LIST A Guide to the Project Management Body of Knowledge (PMBOK Guide) 2000 Edition 2000 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA Chapter 11--Project Risk Management it may be possible to plan for them. Unknown risks cannot be managed, although project managers may address them by applying a general contingency based on past experience with similar projects. Organizations perceive risk as it relates to threats to project success. Risks that are threats to the project may be accepted if they are in balance with the reward that may be gained by taking the risk. For example, adopting a fast-track schedule that may be overrun is a risk taken to achieve an earlier completion date. Risks that are opportunities may be pursued to benefit the project's objectives. To be successful, the organization must be committed to addressing risk management throughout the project. One measure of the organizational commitment is its dedication to gathering high-quality data on project risks and their characteristics. 11.1 RISK MANAGEMENT PLANNING A Guide to the A Guide to the Risk management planning is the process of deciding how to approach and plan the risk management activities for a project. It is important to plan for the risk management processes that follow to ensure that the level, type, and visibility of risk management are commensurate with both the risk and importance of the project to the organization.
Inputs Tools & Techniques Outputs .1 Project charter .2 Organization's risk management policies .3 Defined roles and responsibilities .4 Stakeholder risk tolerances .5 Template for the organization's risk management plan .6 Work breakdown structure (WBS) Project Project Management Management Body of Body of KnowledgeE L KnowledgeE PL
.1 Planning meetings .1 Risk management plan MP AM SA S 11.1.1 Inputs to Risk Management Planning .1 Project charter. The project charter is discussed in Section 184.108.40.206. .2 Organization's risk management policies. Some organizations may have predefined approaches to risk analysis and response that have to be tailored to a particular project. .3 Defined roles and responsibilities. Predefined roles, responsibilities, and authority levels for decision-making will influence planning. .4 Stakeholder risk tolerances. Different organizations and different individuals have different tolerances for risk. These may be expressed in policy statements or revealed in actions. .5 Template for the organization's risk management plan. Some organizations have developed templates (or a pro-forma standard) for use by the project team. The organization will continuously improve the template, based on its application and usefulness in the project. .6 Work breakdown structure (WBS). The WBS is described in Section 220.127.116.11. A Guide to the Project Management Body of Knowledge (PMBOK Guide) 2000 Edition 2000 Project Management Institute, Four Campus Boulevard, Newtown Squ...
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