A Guide to Project Management

A Guide to Project Management

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Unformatted text preview: t. Any changes may require additional qualitative or quantitative analysis. .3 Earned value analysis. Earned value is used for monitoring overall project performance against a baseline plan. Results from an earned value analysis may indicate potential deviation of the project at completion from cost and schedule targets. When a project deviates significantly from the baseline, updated risk identification and analysis should be performed. Earned value analysis is described in Section .4 Technical performance measurement. Technical performance measurement compares technical accomplishments during project execution to the project plan's schedule of technical achievement. Deviation, such as not demonstrating functionality as planned at a milestone, can imply a risk to achieving the project's scope. .5 Additional risk response planning. If a risk emerges that was not anticipated in the risk response plan, or its impact on objectives is greater than expected, the planned response may not be adequate. It will be necessary to perform additional response planning to control the risk. Project Project Management Management Body of Body of KnowledgeE L KnowledgeE PL MP AM SA S 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 NAVIGATION LINKS ACROYMNS LIST ACRONYMS LIST 145 ACROYMNS LIST Chapter 11--Project Risk Management ment ment 11.6.3 Outputs from Risk Monitoring and Control .1 Workaround plans. Workarounds are unplanned responses to emerging risks that were previously unidentified or accepted. Workarounds must be properly documented and incorporated into the project plan and risk response plan. .2 Corrective action. Corrective action consists of performing the contingency plan or workaround. .3 Project change requests. Implementing contingency plans or workarounds frequently results in a requirement to change the project plan to respond to risks. The result is issuance of a change request that is managed by integrated change control, as described in Section 4.3. .4 Updates to the risk response plan. Risks may occur or not. Risks that do occur should be documented and evaluated. Implementation of risk controls may reduce the impact or probability of identified risks. Risk rankings must be reassessed so that new, important risks may be properly controlled. Risks that do not occur should be documented and closed in the risk response plan. .5 Risk database. A repository that provides for collection, maintenance, and analysis of data gathered and used in the risk management processes. Use of this database will assist risk management throughout the organization and, over time, form the basis of a risk lessons learned program. .6 Updates to risk identification checklists. Checklists updated from experience will help risk management of future projects. geE L geE PL P 11.6.3 | Chapter 12 146 NAVIGATION LINKS ACROYMNS LIST ACRONYMS LIST ACR...
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This document was uploaded on 09/27/2013.

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