Monitoring and Controlling
Approved modification to the baseline or other components of the project management plan.
What is a Change Request?
Describes the general approach to managing Risk on a project.
What is a Risk Strategy?
Response used when the project team or project sponsor agrees that a Threat is outside the scope of the project or the proposed response would exceed the PM's authority.
What is Risk Escalation?
The Document that describes how the project will be executed, monitored and controlled and closed.
What is a Project Management Plan?
Occurs at the beginning of the project but occurs multiple times through out project.
What is Risk Identification?
Reviews and considers the effectiveness of the risk management process
What is a Risk Audit?
Defines specific approaches, tools, and data sources that will be used to perform Risk Management on the project
What is the Risk Methodology?
Response used to shift ownership of a threat to a third party to manage risk or absorb the impact if the risk becomes an issue.
What is Risk Transfer?
Conditions, not under the immediate control of the team, that influence, constrain, or direct the project, program, or portfolio.
What are Enterprise Environmental Factors?
Tracks potential risks in a project or an organization, sometimes to fulfill regulatory compliance but mostly to stay on top of potential issues that can derail intended outcomes.
What is a Risk Register?
Compares technical accomplishments during project execution to the schedule of technical achievement.
What is a technical performance analysis?
Provides a means for grouping individual project risks
What is the Risk Category?
Action taken to reduce the probability of occurrence and/or impact of a threat .
What is Risk Mitigation?
Revised versions of previously produced project artifacts, plans, or tools.
What are Project Document Updates?
Used to help determine how the organization will responded to the risk. A function of probability and magnitude of Risk
What is Risk Priority/Severity/Exposure?
Contains information on performance measurements that can be analyzed to provider project information including variance analysis, earned value data, and forecasting data.
What are Work Performance Reports?
Common way to structure risk categories. A hierarchical representation of potential sources of risk
What is a Risk Breakdown Structure (RBS)?
Action taken when the project acknowledges the existence of a threat but takes no action.
What is Risk Acceptance?
Plans, processes, policies, procedures, and knowledge bases that are specific to and used by the performing organization.
What are Organization Process Assets?
Simulation performs risk analysis by building models of possible results by substituting a range of values—a probability distribution—for any factor that has inherent uncertainty
What is a Monte Carol Simulation?