Identify and characterize 2 assess a the impacts

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Unformatted text preview: e.g. scope, schedule, cost, and quality). • Risk management methods generally contain: 1. Identify and characterize ___________ 2. Assess (a) the impacts and (b) the likelihood of the threats 3. Determine the risks 4. Identify ways to reduce those risks 5. ____________ risk reduction measures based on a strategy 71 11 Project Risk Management 72 11.1 Plan Risk Management • Definitions of risk probability and impact 73 11.4 Perform Quantitative Risk Analysis • Expected monetary value (EMV) analysis (decision tree diagram) 74 12 Project Procurement Management • Project Procurement Management includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team. It includes the contract management and change control processes, as well as the contract administration processes. • The organization can be either the buyer or seller of the products, services, or results of a project. 75 References • Wikipedia. wledge • Project Management Institute (PMI). (2008). PMBOK - A Guide to the Project Management Body of Knowledge, 4th Edition, Project Management Institute (PMI). 76...
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