Unformatted text preview: ponse planning concerns developing
strategies that identifies how you’ll deal with the risks
(beforehand or when they occur).
Not all risks require response plans. You may choose
to “live with” the consequences of a risk event if it
occurs. Dr. Maged Ezzat Georgy 4.
4. Risk Monitoring and Control
Risk development is monitored.
The appropriate risk response plan is being
implemented when a given risk materializes.
It also involves evaluating the risk response plans
after being put into action and making any
corrections needed. Dr. Maged Ezzat Georgy 5. Risk Auditing and Review
Primarily performed after the project is complete.
Performing a risk audit is a lot like documenting
lessons learned. Dr. Maged Ezzat Georgy close-out Executing
& Control planning initiating Project
Project Life Cycle Dr. Maged Ezzat Georgy Risk Management Process
Within the Project Life Cycle Dr. Maged Ezzat Georgy Close-Out Risk Auditing
& Review Execution
& Control Risk
Planning Risk Analysis
Identification Initiation & Planning Ri
Risk Management Process:
Risk management is NOT a one-time process.
Rather, it is a continuous and an iterative process. Dr. Maged Ezzat Georgy Risk Management Process:
For instance, when a new risk is recognized during
project execution, it is added to the list, analyzed and
the risk plan is updated with the appropriate response
strategy to such risk.
Some like to call this process by the name
“progressive elaboration”. Dr. Maged Ezzat Georgy End of Week 1...
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This document was uploaded on 01/22/2014.
- Winter '14