By: Ray Myers, Jr., PMP

The PMBOK project risk management processes are:

1. Plan Risk Management
   The process of defining how to conduct risk management activities for a project
2. Identify Risks
   The process of determining which risks may affect the project and documenting their characteristics
3. Perform Qualitative Risk Analysis
   The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact
4. Perform Quantitative Risk Analysis
   The process of numerically analyzing the effect of identified risks on overall project objectives
5. Plan Risk Responses
   The process of developing options and actions to enhance opportunities and to reduce threats to project objectives
6. Monitor and Control Risks
   The process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project.

---

About the Author: Ray Myers, Jr. is a PMP certified project manager with over 2o years experience planning and managing technology projects.   Contact Ray at wwwpmservicesnw.com

Article source: www.pmservicesnw.com

Tags: risk processes

This entry was posted on August 10, 2010 at 9:23 am and is filed under Risk. You can follow any responses to this entry through the RSS 2.0 feed.