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Project Management Concept #2: Qualitative Risk Analysis vs Quantitative Risk Analysis
 
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Passionate Project Management, www.PassionatePM.com, is pleased to sponsor this Passionate Project Management YouTube channel. Passionate Project Management specializes in project management learning, development, and consulting. Passionate Project Management offers open enrollment and private on-site courses delivered by the leading instructors in the industry. Passionate Project Management provides PMP Exam Prep, CAPM Exam Prep, PMI-RMP (Risk Management) Exam Prep, and PMI-ACP (Agile) Exam prep. This Video is a component of our Learning Concepts Series: 2. Qualitative versus Quantitative Risk Analysis narrated by Belinda Fremouw. Belinda was the first woman in the world to achieve the original five PMI Credentials. Her experience spans multiple decades, crosses several industries, and includes domestic and international project experience. Belinda is a well-known public speaker and author. Check out our website at www.PassionatePM.com for all of our course offerings and exam prep study materials. www.PassionatePM.com #PassionatePM #BelindaFremouw #BelindaPMP
Views: 22332 PM Learning Solutions
Qualitative Vs Quantitative Risk Analysis
 
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This video describes Risk Analysis Techniques - Qualitative and Quantitative. It also describes techniques to do Qualitative and Quantitative Risk Analysis along with developing rating scales. -~-~~-~~~-~~-~- Please watch: "Introduction to MS Paint" https://www.youtube.com/watch?v=fhIGiUWdkzY -~-~~-~~~-~~-~-
Views: 20287 Project Management
11.3 Perform Qualitative Risk Analysis Process | Project Risk Management || whatispmp.com
 
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Full article ►► http://whatispmp.com/perform-qualitative-risk-analysis/ 11.3 Perform Qualitative Risk Analysis Process. ========================================= Chapter 11: Project Risk Management Knowledge Area:- ========================================= 11.1 Plan Risk Management Process: http://whatispmp.com/plan-risk-management/ 11.2 Risk Identification Process: http://whatispmp.com/risks-identification-process/ 11.3 Perform Qualitative Risk Analysis Process: http://whatispmp.com/perform-qualitative-risk-analysis/ 11.4 Perform Quantitative Risk Analysis Process: http://whatispmp.com/perform-quantitative-risk-analysis/ 11.5 Plan Risk Responses Process: http://whatispmp.com/plan-risk-responses/ 11.6 Monitor and Control Risks Process: http://whatispmp.com/monitor-and-control-risks-process/ 11.7 Risk Tolerance: http://whatispmp.com/risk-tolerance/ 11.8 Risk Roles and Responsibilities: http://whatispmp.com/risk-roles-and-responsibilities/ 11.3 Perform Qualitative Risk Analysis Process | Project Risk Management. ~~~~~~~~~~~~~~~~~~~~~~~~~ Perform Qualitative Risk Analysis follows risk identification, and it prioritizes risks based on their likelihood of occurring and their potential impact on the project objectives. Prioritization is needed because risk identification uncovers a large number of risks having at least some potential to influence project objectives. However, many of those risks will be of such a low priority or have such a small impact that it isn't cost-effective to address them, so qualitative analysis allows the project team to focus on the most important risks. The risk register provides the list of identified risks to be evaluated, and the risk management plan provides the details on how probability and impact will be assessed and what risk scoring formula and ranking criteria will be used. Risks are prioritized and ranked based on their overall risk rating score, but risks can also be prioritized by their expected monetary value, impact, or any combination of other methods. 11.3.1 Perform Qualitative Risk Analysis: Inputs • Risk register The risk register is a comprehensive list of all threats and opportunities the project faces. It also contains supplementary data about each risk, including its impact, probability, risk response, budget, risk owner, and contingency and fallback plans. • Risk management plan The risk management plan is a component of the project management plan. It details and defines the risk management activities for the project. The plan establishes the risk methodology, risk roles and responsibilities, risk categories, probability and impact scales, risk tolerances, frequencies of risk management activities and reporting, and the budget and schedule for risk management activities. • Project scope statement The project scope statement details the measurable goals, objectives, deliverables, and requirements of the project, and what the acceptance criteria of deliverables will be. It also describes the work required to meet all objectives and deliverables of the project, and it also contains milestones, assumptions, risks, and costs. The scope statement helps determine the impact a risk may have on the project’s objectives and may help determine its probability. • Organizational process assets Data from similar, past projects and risk databases will help determine impacts and probabilities. 11.3.2 Perform Qualitative Risk Analysis: Tools and Techniques • Risk probability and impact assessment This assessment investigates each identified risks to expose the probability and impact of all the project objectives. This data is used to prioritize or rank risks. [....] Read Full article ►► http://www.whatispmp.com/perform-qualitative-risk-analysis/ ============================ Share video: https://youtu.be/ZvLbmFanqao ============================ Subscribe to our channel: https://goo.gl/pJeXcj website: http://whatispmp.com Facebook: https://fb.me/whatispmp Google+: https://goo.gl/FQGzT5 ============================ PMP Tutorial ►► http://whatispmp.com/PM-Tutorial --------------------------------------------------------- This tutorial covers the following subject matter: Knowledge Areas: • Project Integration Management. • Project Scope Management. • Project Time Management. • Project Cost Management. • Project Quality Management. • Project Human Resource Management. • Project Communications Management. • Project Risk Management. • Project Procurement Management. Process Groups: • Initiating Processes. • Planning Processes. • Executing Processes. • Monitoring & Controlling Processes. • Closing Processes. ============================ Share video: https://youtu.be/ZvLbmFanqao ============================ What is PMP, PMP Training, PMP Certification, PMP Exam Preparation, Project Management Professional Course.
Views: 431 What is PMP?
82. PMP | Perform Qualitative Risk Analysis Overview
 
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This PMI PMP PMBOK based video explains about the project perform qualitative risk analysis which belongs to project risk management along with ITTO,input,tools,techniques,output. Perform Qualitative Risk Analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact. The key benefit of this Perform Qualitative Risk Analysis process is that it enables project managers to reduce the level of uncertainty and to focus on high-priority risks. Perform Qualitative Risk Analysis assesses the priority of identified risks using their relative probability or likelihood of occurrence, the corresponding impact on project objectives if the risks occur, as well as other factors such as the time frame for response and the organization’s risk tolerance associated with the project constraints of cost, schedule, scope, and quality. Here the ITTO,input,tools,techniques,output of PMP Perform Qualitative Risk Analysis process Per PMP PMBOK-5, Input of project Perform Qualitative Risk Analysis process is, .1 Risk management plan .2 Scope baseline .3 Risk register .4 Enterprise environmental factors .5 Organizational process assets PMP PMBOK-5 says following tools and techniques are used in project Perform Qualitative Risk Analysis process .1 Risk probability and impact assessment .2 Probability and impact matrix .3 Risk data quality assessment .4 Risk categorization .5 Risk urgency assessment .6 Expert judgment Following are the output of project Perform Qualitative Risk Analysis process as per PMP pmbok-5 .1 Project documents updates
Views: 1201 Kavin Kumar
Module 15   Qualitative and Quantitative Project Risk Analyses
 
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This series of videos help in understanding the PMBOK and all the concepts that are geared towards helping you have a better understanding of the processes and knowledge areas. These videos provide a deeper understanding. Project Management Professional (PMP) is a credential offered by the Project Management Institute (PMI).
Views: 1777 PMP Training
PMP® | Risk Analysis-Qualitative & Quantitative Approaches
 
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Stuck with PMP? Enroll in our PMP Online Training and Get PMP in 45 Days with PMBOK5 http://goo.gl/l2aQOq Agenda for the hangout Check out the queries raised at iZenBridge Forum http://goo.gl/pVUqF7 to be discussed during the session.  https://plus.google.com/b/103624728377270787243/events/cbo8qceqi7v7a344311id8rp3ts Our Trainers will focus on the queries posted by participants for discussion in the hangout. https://twitter.com/iZenBridge You can also post your queries at the forum. How to join the hangout? You can watch the event live at Risk Analysis Hangout. The queries/ questions will be taken up by using Q & A app.during the hangout. You need to type in your questions just like before, but now, the Q & A app will make it more manageable for the participants. Only selected participants, who have raised queries in the forum, would get an opportunity to come inside the session by way of video to follow up on the queries they had raised. Only first 9 participants can avail this facility. To enter the live web session, the selected participants can use the link provided at Twitter. Search the link using #iZenPMP. Rest of the participants need to follow the link provided above in the mail. Only in case of technical problems during the hangout, communicate to us on Twitter by using #iZenPMP Speaker:+Saket Bansal
Drawn Out PM: Perform Qualitative Risk Analysis Process 6th Ed PMBOK
 
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Part of the PM City interactive online course from The Crowd Training. More info and content at www.thecrowdtraining.com The Perform Qualitative Risk Analysis process is a process in the Project Risk Management knowledge area of the 6th edition of the Project Management Body of Knowledge or PMBOK. This video is a whiteboard animation to explain the inputs, outputs, tools and techniques of the process to help prepare you for the Project Management Professional - PMP - certification exam or the CAPM exam or to simply add to your understanding of managing risks in a project. The inputs include, project management plan, project documents, enterprise environmental factors, and organizational process assets. The tools and techs include, expert judgment, data gathering, data analysis, interpersonal skills and team skills, risk categorization, data representation, and meetings. The output is updates to the project documents.
Views: 53 The Crowd Training
Chapter 11 -  Qualitative Risk Analysis
 
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Online Project Management education for individuals, schools, and businesses. Video classes, sample exams, articles, tips , games and more! Visit us! http://newinpm.com Facebook https://www.facebook.com/capmpreparation Linkedin http://www.linkedin.com/groups?gid=4987477 Google+ https://plus.google.com/+Newinpm/ Perform Qualitative Risk Analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
Views: 1106 NEW In PM
Qualitative vs quantitative risk analysis
 
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Confused about ualitative and quantitative risk analysis? Watch the video, find out the difference! www.pmwars.com
Views: 11697 PMwars
Risk and How to use a Risk Matrix
 
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In this video we will take a look at what risk is and how to use a simple risk matrix. This video was created by Ranil Appuhamy Voiceover - James Clark -------------------------------------------------------------------------------------------------------- Disclaimer: These videos are provided for educational purposes only. Users should not rely solely on the information contained within these videos and is not intended to be a substitute for advice from other relevant sources. The author/s do not warrant or represent that the information contained in the videos are accurate, current or complete and do not accept any legal liability or responsibility for any loss, damages, costs or expenses incurred by the use of, or reliance on, or interpretation of, the information contained in the videos.
Risk Analysis How to Analyze Risks on Your Project - Project Management Training
 
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Watch as Jennifer Bridges, PMP, https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=CreatingaProjectPMSoftwareTutorial as she explains why you need to analyze risk and how to do it effectively.
pmp qualitative risk techniques
 
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https://www.pm-primer.com grasp the techniques used to assess PMBOK qualitative risk - then pass your PMP Exam at first Try!
Views: 215 Projex Academy
Quantitative and Qualitative Risk Assessment - CompTIA Security+ SY0-401: 2.1
 
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Security+ Training Course Index: http://professormesser.link/sy0401 Professor Messer’s Course Notes: http://professormesser.link/sy0401cn Frequently Asked Questions: http://professormesser.link/faq - - - - - Risk factors can take many forms. In this video, you’ll learn how to asses both quantitative and qualitative risk factors in your environment. - - - - - Download entire video course: http://professormesser.link/401adyt Get the course on MP3 audio: http://professormesser.link/401vdyt Subscribe to get the latest videos: http://professormesser.link/yt Calendar of live events: http://www.professormesser.com/calendar/ FOLLOW PROFESSOR MESSER: Professor Messer official website: http://www.professormesser.com/ Twitter: http://www.professormesser.com/twitter Facebook: http://www.professormesser.com/facebook Instagram: http://www.professormesser.com/instagram Google +: http://www.professormesser.com/googleplus
Views: 61881 Professor Messer
29- What Is Qualitative Approach In Risk Analysis In Software Engineering In HINDI
 
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What Is Qualitative Approach In Risk Analysis In Software Engineering In HINDI: Qualitative analysis allows the main risk sources or factors to be identified. This can be done for example- brainstorming sessions- interviews - checklists When a qualitative risk analysis is performed, risk rating can be used an indication of the potential importance of risks on the program and mainly expressed as low, medium, and high(or Possibly low, medium low, medium, medium high, and high). 27- What is a Risk Analysis and Risk And Categories of Risk in Software Engineering https://youtu.be/b9DKxV29PTc 28- Risk Analysis - Types Of Risk in Software Project Development in Software Engineering https://youtu.be/QoYctKYZtto Website: http://www.tutorialsspace.com Instagram https://www.instagram.com/tutorialsspace/ #SoftwareEngineering, #SoftwareEngineeringLectures, #SoftwareEngineeringLecturesInHindi, #SoftwareEngineeringTutorialsInHindi, #SoftwareEngineeringTutorials,
Views: 3740 tutorialsspace
Prioritize project risks  using Qualitative Risk analysis
 
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Prioritize risks into high, medium and low priority categories - Effectively utilize your resources and budget to address the risks in the order of their priority through using below techniques 1 Probability and impact matrix 2 Hierarchical charts 3 Expert Judgement
Views: 242 Krishnamurty Pammi
Quantitative Risk Analysis for overall project risk
 
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This short presentation formed part of an APM Risk SIG workshop on the uses of QRA, in February 2016. Most people use QRA to identify the most important individual risks. Here David Hillson explains how to use it to quantify overall project risk exposure.
Views: 10894 RiskDoctorVideo
Qualitative and Quantitative Risk Analysis
 
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Project Management Assignment 1
Views: 2212 syahirah shaari
Qualitative Risk Analysis
 
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As I said earlier it is always good to be ready for any risk so we need to have this risk strategies are very early into the project. Now if you remember in slide number 3 or 4 I did say that I am going to touch up on probability and impact mappings this is what which I said earlier I also said that I am going to talk about scared risk about little bit 10, 15 minutes back.
Views: 2602 TechGig
Qualitative Risk Analysis Part 1
 
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Qualitative risk analysis boosts the chances for project success dramatically. If I were to choose one thing to improve my project management - it would be it. Qualitative risk analysis process is quite simple and does not require much specific knowledge. In this video we will talk about several definitions before we get into details of the analysis.
Qualitative Risk Analysis
 
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LO3 Qualitative Risk Analysis
Views: 143 Zhafri Amzar
Evaluating Risks Using Qualitative Risk Analysis
 
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Learn more about evaluating project risks at http://www.pmsouth.com/?p=232 Please subscribe to the channel and leave a comment below! Project Risk Coach: http://www.projectriskcoach.com Courses: http://www.projectriskcoach.com/courses LinkedIn: https://www.linkedin.com/in/harrythomashall Facebook: https://www.facebook.com/pmsouth77/ Twitter: https://twitter.com/harrythall
Views: 3078 Harry Hall
Navigating Through Project Uncertainties With Quantitative Risk Analysis
 
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Join Yelena Okonechnikova at PMI® Global Conference 2018 in Los Angeles for 'Navigating Through Project Uncertainties With Quantitative Risk Analysis'. At the conclusion of this session, participants will be able to: (1) explain the pros and cons of qualitative and quantitative risk analysis; (2) estimate the overall risk impact on project objectives. Learn more at http://sched.co/EyVM
Views: 413 PMI
How to Evaluate Risks Using Quantitative Risk Analysis
 
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Learn more about how to evaluate project risks using quantitative risk analysis at http://projectriskcoach.com/evaluating-risks-using-quantitative-risk-analysis/ Start learning more about project management and risk management in my Online Courses: http://projectriskcoach.com/courses Please subscribe to the channel and leave a comment below! Project Risk Coach: http://www.projectriskcoach.com Courses: http://www.projectriskcoach.com/courses LinkedIn: https://www.linkedin.com/in/harrythomashall Facebook: https://www.facebook.com/projectriskcoach Twitter: https://twitter.com/harrythall
Views: 6345 Harry Hall
Perform Qualitative Risk Analysis: Inputs, Tool & Techniques, Outputs
 
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Want more? You can take my FREE course: How to Actually Perform a Qualitative Risk Analysis: http://bit.ly/2t3Y6WS More Resources Project Risk Coach: http://www.projectriskcoach.com Courses: http://www.projectriskcoach.com/courses LinkedIn: https://www.linkedin.com/in/harrythomashall Facebook: https://www.facebook.com/projectriskcoach Twitter: https://twitter.com/harrythall
Views: 50 Harry Hall
Create a Risk Assessment Chart
 
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Check out my Blog: http://exceltraining101.blogspot.com This video covers how to create a colored (green-yellow-red) risk assessment chart. This is used in project management to compare risk to probability for various task or projects to help aid in decision making. Feel free to provide a comment or share it with a friend! #exceltips #exceltipsandtricks #exceltutorial #doughexcel
Views: 202644 Doug H
11.3 Perform Qualitative Risk Analysis
 
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دورة التحضير لاختبار pmp #PMP_GATEWAY
Qualitative Risk Analysis Part 3
 
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Qualitative risk analysis boosts the chances for project success dramatically. If I were to choose one thing to improve my project management - it would be it. Qualitative risk analysis process is quite simple and does not require much specific knowledge. In this video we will discuss how to risk analysis happens in real life.
Quantitative vs Qualitative Schedule Risk Analysis
 
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Understand the differences between qualitative and quantitative Schedule Risk Analysis and why results around risk prioritisation may differ.
Views: 442 Dave Hammal
Qualitative Risk Analysis Part 4
 
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Qualitative risk analysis boosts the chances for project success dramatically. If I were to choose one thing to improve my project management - it would be it. Qualitative risk analysis process is quite simple and does not require much specific knowledge. In this video we will discuss the outputs and results of the risk analysis.
What is a Risk Register and When To Use It
 
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Qualitative risk analysis, quantitative risk analysis, risk response planning... When exactly should you use a risk register? Watch this short project management training video from https://www.projectmanager.com/?utm_source=youtube.com&utm_medium=social&utm_campaign=WhatisaRiskRegisterandWhenToUseIt to learn more.
PMP- PMBOK -  Quantitative Risk Analysis - Sensitivity Analysis using Tornado Diagrams
 
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PMP- PMBOK - Quantitative Risk Analysis - Sensitivity Analysis using Tornado Diagram PMP® Certification Training: http://www.pmexpertinc.com/ www.pmexpertgroup.com For more updates on courses and tips follow us on: - Facebook :https://www.facebook.com/pmexpertinc/ -
Views: 3126 Pankaj Sharma
Perform Qualitative Risk
 
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Perform Qualitative Risk Analysis is one of the 42 project management processes described in the fourth edition PMBOK®. ...- Daniel LaMendola
Views: 3142 tsiweb
Monte Carlo Schedule Risk analysis. Part 1: Introduction to schedule risk analysis techniques
 
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Video shows how schedule risk analysis is performed in RiskyProject project risk management and risk analysis software. Monte Carlo simulations require inputs to perform the analysis: duration estimates and statistical distributions. In this video, we describe what a statistical distribution for schedules is and use a real life example to gather the distribution data and describe them using frequency histograms and cumulative probability plots. Finally, we use the data we generated from this real life example, to create a risk analysis model in the software and run a Monte Carlo simulation. For more information how to perform schedule risk analysis using RiskyProject software please visit Intaver Institute web site: http://www.intaver.com. About Intaver Institute. Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise.
Views: 28773 Intaver Institute Inc.
Perform Qualitative and Quantitative Risk Analysis | PMP Online Tutorial for Beginners
 
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PMP Training & Certification provided Online from USA industry expert trainers with real time project experience. This video is a Video recording of a Live Webinar presentation done by our Sr. PMP Trainer who is also a Manager. COURSE PAGE: https://www.zarantech.com/pmp-training/ REGISTER FOR FREE LIVE DEMO: http://promo.zarantech.com/free-webinar-pmp/ CONTACT: +1 (515) 309-7846 (or) Email - [email protected] Get More Free Videos - Subscribe ➜ https://goo.gl/5ZqDML "pmp tutorial" "free pmp training" "online pmp training" "Best pmp training" "pmp training for Beginners" "Best pmp Training" Reviews / Testimonials from past trainees are saying: https://goo.gl/ZVfnE4 Refer your friends to ZaranTech - http://www.zarantech.com/be-a-friend-tell-a-friend. -~-~~-~~~-~~-~- Please watch: "High Demand for SAP HANA 2.0 Certified Consultants | HANA 2.0 Training | HANA 2.0 for Beginners" https://www.youtube.com/watch?v=PO7MPIVxEhg -~-~~-~~~-~~-~-
Views: 623 ZaranTech
Qualitative Risk Analysis Part 2
 
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Qualitative risk analysis boosts the chances for project success dramatically. If I were to choose one thing to improve my project management - it would be it. Qualitative risk analysis process is quite simple and does not require much specific knowledge. In this video we will talk about Impact and Probability, and Risk Matrix.
Project Risk Management
 
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Introduction to Project Risk Management with brief on process: a. Plan Risk Management b. Identify Risks c. Qualitative Risk Analysis d. Quantitative Risk Analysis e. Plan risk responses f. Control risks https://www.educba.com/
Views: 15 eduCBA
RiskyProject: Project Risk Analysis and Risk Management Software Suite
 
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RiskyProject is an integrated project risk management and risk analysis software. RiskyProject facilitates all steps of the project risk management process: risk identification, analysis, mitigation and response planning, and risk communication. RiskyProject performs both qualitative and quantitative risk analysis and includes schedule and cost risk analysis using Monte Carlo simulations. RiskyProject’s risk register covers the entire risk life cycle for project, program or portfolio risks: threats, opportunities, issues, and lessons learned with their properties. Risks can be assigned to project tasks and resources. The risks can impact not only project schedule and cost, but also performance, safety, security, and other risk categories. You can create and assign risk mitigation and response plans to any risks. RiskyProject is a scalable suite of products: RiskyProject Lite for schedule risk analysis, RiskyProject Professional for integrated project risk management and risk analysis, RiskyProject Enterprise for portfolio risk management and analysis on organizational level, and RiskyProject Cloud, which is web-base qualitative risk analysis and risk management software. For more information about project risk analysis and risk management software RiskyProject please visit www.intaver.com.
11.2 Risk Identification Process | Project Risks Management || whatispmp.com
 
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11.2 Risk Identification Process | Project Risks Management. Check out link ►► http://whatispmp.com/risks-identification-process/ ========================================= Chapter 11: Project Risk Management Knowledge Area:- ========================================= 11.1 Plan Risk Management Process: http://whatispmp.com/plan-risk-management/ 11.2 Risk Identification Process: http://whatispmp.com/risks-identification-process/ 11.3 Perform Qualitative Risk Analysis Process: http://whatispmp.com/perform-qualitative-risk-analysis/ 11.4 Perform Quantitative Risk Analysis Process: http://whatispmp.com/perform-quantitative-risk-analysis/ 11.5 Plan Risk Responses Process: http://whatispmp.com/plan-risk-responses/ 11.6 Monitor and Control Risks Process: http://whatispmp.com/monitor-and-control-risks-process/ 11.7 Risk Tolerance: http://whatispmp.com/risk-tolerance/ 11.8 Risk Roles and Responsibilities: http://whatispmp.com/risk-roles-and-responsibilities/ ~~~~~~~~~~~~~~~~~~~~~~~~~ 11.2 Risks Identification Process | Project Risks Management Knowledge Area. ~~~~~~~~~~~~~~~~~~~~~~~~~ In the Risk Identification Process, we’ll develop the risk register, which is a comprehensive list of all threats and opportunities that might be encountered on the project. The risk management plan is a key input to this process because it establishes the time and budget allocated to identification activities, and it also describes what activities will be used to uncover risks. Risk identification should be done early in project planning because later risk processes rely on the risk register and risk decisions may impact the budget, schedule, and scope of the project. Some identified risks may require immediate action. Risk identification Process will reoccur throughout the entire project since: • New risks may become evident only after project execution is underway. • Approved project changes may introduce risks. • Changes outside the project boundaries may introduce risk factors. • Actions taken in response to occurring risks may themselves generate risks. • Symptoms, risk causes, probability, and impact may not be as originally planned. Proper risk identification requires a thorough understanding of the work being undertaken, and uncovering risks is a collaborative effort involving the project team, stakeholders, subject matter experts, and possibly consultants, vendors, and risk professionals. The project manager should foster a project culture where everyone on the project is aware of risks and is on the lookout for them. No one should feel hesitant about openly raising risk issues for fear that it'll be perceived as "bad news." 11.2.1 Risk Identification Process: Inputs • Risk management plan: The risk management plan defines the risk management activities for the project, and it establishes the risk methodology, risk roles and responsibilities, risk categories, probability and impact scales, risk tolerances, frequencies of risk management activities and reporting, and the budget and schedule for risk management activities. • Activity cost estimates: Activity cost estimates are a complete accounting of all component costs, such as labor, resources, services, fees, licenses, of a scheduled activity. The reliability of these estimates can be a source of project risks. • Activity duration estimates: Activity duration estimates are the work periods required to complete a scheduled activity. Since there are many factors that influence duration, including resource availability, duration estimates can be a source of project risks. • Scope baseline: The scope baseline is the approved project scope statement, WBS, and WBS dictionary. The scope includes explicit and implicit assumptions (which are risks) and constraints, which are also risks. [...] Check out link ►► http://whatispmp.com/risks-identification-process/ ============================ Share video: https://youtu.be/QaQQ2ljM0ts ============================ Subscribe to our channel: https://goo.gl/pJeXcj website: http://whatispmp.com Facebook: https://fb.me/whatispmp Google+: https://goo.gl/FQGzT5 ============================ PMP Tutorial ►► http://whatispmp.com/PM-Tutorial --------------------------------------------------------- This tutorial covers the following subject matter: Knowledge Areas: • Project Integration Management. • Project Scope Management. • Project Time Management. • Project Cost Management. • Project Quality Management. • Project Human Resource Management. • Project Communications Management. • Project Risk Management. • Project Procurement Management. Process Groups: • Initiating Processes. • Planning Processes. • Executing Processes. • Monitoring & Controlling Processes. • Closing Processes. ============================ Share video: https://youtu.be/QaQQ2ljM0ts ============================ What is PMP, PMP Training, PMP Certification, PMP Exam Preparation, Project Management Professional Course.
Views: 270 What is PMP?
2 Quantitative risk analysis management @risk software Palisade by Dr Mehrdad Arashpour
 
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This short video shows the second and third steps in a quantitative risk analysis: Designate outputs and define input statistical distributions. Please subscribe to this You Tube channel (Engineering Management Academy) for weekly updated videos about engineering and project management related topics. 10.6084/m9.figshare.4046892
Risk Management
 
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The Risk Management Knowledge Area, complete, as recommended by the Project Management Institute comprising of the six processes: Risk Management Planning Identify Risks Qualitative Risk Analysis Quantitative Risk Analysis Plan Responses Control Risks
Views: 1748 Ajay Kumar
Perform Qualitative Risk Management Analysis | PMP CertificationTraining Courses | PMP Exam prep
 
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Simplilearn Solutions (Global R.E.P. ID 3147) (http://www.simplilearn.com) provides project management training through a blended learning model of classroom training and online learning. Try our free exam prep resources : Free PMP, ITIL, Six Sigma Tests http://www.simplilearn.com/simplilearn/free-resources PMP certification training workshops in the United States: http://www.simplilearn.com/simplilearn/events/pmp-training-usa PMP online training courses start from $57.99 onwards: http://www.simplilearn.com/simplilearn/pmp_exam/online-courses Transcript for Project Risk Management, Perform Qualitative Risk Analysis: While Risk Identification is the process of identifying all possible risks, but in reality it's not a good idea to work on finding workaround or responses on all the risks. This is because of the impact of the risk may be so negligible in some cases that it's not worth worrying about that risk.But, out of many risks identified, which one you shall work on priority. That's done after analyzing the risk. The obvious inputs to this process are Risk register and Risk Management Plan. The first technique of Qualitative risk analysis is to find out the accuracy of the risk data. This means really finding out whether the risks are a real risk or not!Once the accuracy of the risk data is verified, the next step is to find out which risks need to be addressed on priority and analyzing them on priority. The analysis is done by classifying the risk probability and impact into High, Medium and Low.With this analysis, if a Risk has both high probability as well as high impact, that needs to be addressed first than any other risks. The output of this process is prioritized risks with their probability and impact ratings. The process also results in a list of risks that require further analysis, because the data available might not be sufficient enough to determine their probability and impact.
Views: 538 SimplilearnTraining
pmp quantitative risk techniques
 
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https://www.pm-primer.com Master the tools for managing PMP risk - then go on to ace your PMBOK PMP Exam at first try!
Views: 435 Projex Academy
11.6 Monitor and Control Risks Process | Project Risk Management || whatispmp.com
 
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Monitor and Control Risks Process | Project Risk Management. Check out link ►► https://whatispmp.com/monitor-and-control-risks-process/ ========================================= Chapter 11: Project Risk Management Knowledge Area:- ========================================= 11.1 Plan Risk Management Process: http://whatispmp.com/plan-risk-management/ 11.2 Risk Identification Process: http://whatispmp.com/risks-identification-process/ 11.3 Perform Qualitative Risk Analysis Process: http://whatispmp.com/perform-qualitative-risk-analysis/ 11.4 Perform Quantitative Risk Analysis Process: http://whatispmp.com/perform-quantitative-risk-analysis/ 11.5 Plan Risk Responses Process: http://whatispmp.com/plan-risk-responses/ 11.6 Monitor and Control Risks Process: http://whatispmp.com/monitor-and-control-risks-process/ 11.7 Risk Tolerance: http://whatispmp.com/risk-tolerance/ 11.8 Risk Roles and Responsibilities: http://whatispmp.com/risk-roles-and-responsibilities/ ~~~~~~~~~~~~~~~~~~~~~~~~~ 11.6 Monitor and Control Risks Process | Project Risk Management Knowledge Area. ~~~~~~~~~~~~~~~~~~~~~~~~~ Project risks do not remain static once the risk planning processes are completed. New risks crop up, responses may not work as planned, and the characteristics of risks might change. The risk monitoring and control process begins as soon as risk planning starts and continues until project closure. Activities in the Monitor and Control Risks process include: Watching for new risks. Analyzing identified risks for changes in probability or impact. Determining the need to execute contingency or fallback plans. Reviewing risk response actions and their effectiveness for risks that are underway, and if necessary determining the need to implement fallback plans. Keeping a close eye on the risk watchlist. Monitoring residual risks. Watching for any assumptions that aren't holding true. Making sure the risk management plan and risk management policies and procedures are followed. Analyzing risk data, identifying trends, and producing risk reports. Ensuring that appropriate records are maintained, including lessons learned documentation about risks. Instigating recommended changes and preventative or corrective actions as a response to results uncovered from risk monitoring and control. Monitor and Control Risks Process Decomposition 11.6.1 Monitor and Control Risks: Inputs Risk register The risk register is a comprehensive list of all threats and opportunities the project faces. It also contains supplementary data about each risk, including its impact, probability, risk response, budget, risk owner, and contingency and fallback plans. Project management plan The risk management plan is a component of the project management plan. It details and defines the risk management activities for the project. The plan establishes the risk methodology, risk roles and responsibilities, risk categories, probability and impact scales, risk tolerances, frequencies of risk management activities and reporting, and the budget and schedule for risk management activities. Work performance information Schedule and progress status information, budget and cost status, quality status, estimates to complete, resource utilization information, and lessons learned. Any of this information can is useful for risk monitoring and control. Performance reports Performance reports provide information on schedule performance. They also can serve as alerts of current or potential problems, which impact individual and overall risk. 11.6.2 Monitor and Control Risks: Tools and Techniques Risk reassessment Risk reassessment monitors identified risks for changes as well as watching for new risks. Check out link ►► http://www.whatispmp.com/monitor-and-control-risks-process/ ============================ Share video: https://youtu.be/3tK0P2dp53Y ============================ Subscribe to our channel: https://goo.gl/pJeXcj website: http://whatispmp.com Facebook: https://fb.me/whatispmp Google+: https://goo.gl/FQGzT5 ============================ PMP Tutorial ►► http://whatispmp.com/PM-Tutorial --------------------------------------------------------- This tutorial covers the following subject matter: Knowledge Areas: • Project Integration Management. • Project Scope Management. • Project Time Management. • Project Cost Management. • Project Quality Management. • Project Human Resource Management. • Project Communications Management. • Project Risk Management. • Project Procurement Management. Process Groups: • Initiating Processes. • Planning Processes. • Executing Processes. • Monitoring & Controlling Processes. • Closing Processes. ============================ Share video: https://youtu.be/3tK0P2dp53Y ============================ What is PMP, PMP Training, PMP Certification, PMP Exam Preparation, Project Management Professional Course.
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