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	<title>PMServicesNW &#187; Risk</title>
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		<title>Risk Probability Impact Matrix</title>
		<link>http://www.pmservicesnw.com/2009/10/risk-probability-impact-matrix/</link>
		<comments>http://www.pmservicesnw.com/2009/10/risk-probability-impact-matrix/#comments</comments>
		<pubDate>Sat, 03 Oct 2009 04:17:24 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Risk]]></category>
		<category><![CDATA[impact matrix]]></category>
		<category><![CDATA[probability matrix]]></category>
		<category><![CDATA[risk matrix]]></category>
		<category><![CDATA[risk probability impact matrix]]></category>

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By Ray Myers, Jr., PMP
Risk management is an important project management function.  While we have tools to identify, assess, and manage risks, it’s sometimes difficult to understand and distinguish the relative importance between them.
A risk probability/impact matrix provides a visual framework that may help decide which risks need your attention.  The matrix is based on [...]]]></description>
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		<title>Not All Risks are Negative</title>
		<link>http://www.pmservicesnw.com/2009/10/not-all-risks-are-negative/</link>
		<comments>http://www.pmservicesnw.com/2009/10/not-all-risks-are-negative/#comments</comments>
		<pubDate>Sat, 03 Oct 2009 01:58:55 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Risk]]></category>
		<category><![CDATA[Negative risks]]></category>
		<category><![CDATA[positive risks]]></category>
		<category><![CDATA[risk opportunities]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=1998</guid>
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By Ray Myers, Jr., PMP
Risk events can have both negative and positive impacts on a project.  Most people think of risk in negative terms, however some events could have a positive impact on a project.  Consider how an unexpected drop in the cost of materials could reduce the overall cost of a project.
We call it [...]]]></description>
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		<title>Murphy’s Risk Management Law</title>
		<link>http://www.pmservicesnw.com/2009/10/murphy%e2%80%99s-risk-management-law/</link>
		<comments>http://www.pmservicesnw.com/2009/10/murphy%e2%80%99s-risk-management-law/#comments</comments>
		<pubDate>Fri, 02 Oct 2009 00:04:08 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=1994</guid>
		<description><![CDATA[By Ray Myers, Jr., PMP
 
If it can go wrong, it will.  -Murphy&#8217;s law
 
That’s not very encouraging, in fact, it’s downright discouraging.  We do the best we can as project managers to identify, assess, and manage potential projects risks, but is seems that we are forever looking over our shoulders, waiting for the next shoe to [...]]]></description>
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		<title>Calculating Risk</title>
		<link>http://www.pmservicesnw.com/2009/09/calculating-risk/</link>
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		<pubDate>Wed, 30 Sep 2009 20:57:07 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Risk]]></category>
		<category><![CDATA[risk calculations]]></category>
		<category><![CDATA[Risk Expected Value]]></category>
		<category><![CDATA[Risk Impact]]></category>
		<category><![CDATA[Risk Probability]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=1990</guid>
		<description><![CDATA[By Ray Myers, Jr., PMP
 To assess the potential impacts of risk to a project, it is important to understand the 3 basic elements used in risk calculations: Impact, Probability and Expected Value.
Impact
Impact is the expected cost of the risk event in dollars.  The impact is simply an estimate of what the risk event would cost [...]]]></description>
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		<title>6 Risk Processes</title>
		<link>http://www.pmservicesnw.com/2009/08/6-risk-processes/</link>
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		<pubDate>Sat, 29 Aug 2009 19:01:33 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Risk]]></category>
		<category><![CDATA[risk processes]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=430</guid>
		<description><![CDATA[By: Ray Myers, Jr., PMP
The PMBOK project risk management processes are:

Plan Risk Management
The process of defining how to conduct risk management activities for a project
Identify Risks
The process of determining which risks may affect the project and documenting their characteristics
Perform Qualitative Risk Analysis
The process of prioritizing risks for further analysis or action by assessing and combining [...]]]></description>
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		<title>Risk Responses</title>
		<link>http://www.pmservicesnw.com/2009/08/risk-responses/</link>
		<comments>http://www.pmservicesnw.com/2009/08/risk-responses/#comments</comments>
		<pubDate>Sat, 29 Aug 2009 18:28:59 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Risk]]></category>
		<category><![CDATA[risk responses]]></category>

		<guid isPermaLink="false">http://www.pmservicesnw.com/?p=426</guid>
		<description><![CDATA[By: Ray Myers, Jr., PMP
Risk responses fall into 4 categories:
Avoid

Eliminate the risk—usually by eliminating the causes

Accept

Accept the risk—but have a contingency plan in place

Transfer

Shift risk to a third party
Insurance
Sub-contractor

Mitigate

Reduce the likelihood of its occurrence

About the Author: Ray Myers, Jr. is a PMP certified project manager with over 2o years experience planning and managing technology projects.  [...]]]></description>
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