Term
| formula to calculate the (EMV) Expected Monetary Value of a risk |
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Definition
| Probability(%) x impact = EMV Use a negative monetary value for threats a positive for opportunities |
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Term
| This type of analysis focuses on the impact of a risk as the team judges it |
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Definition
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| This type of risk impact analysis focuses on getting the hard numbers to back up the perception |
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Definition
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| The first step in Risk Management |
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Definition
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| the main output of the Risk Management Planning Process |
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Definition
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| This common input does not apply to Risk Management because you cannot use a template. It's all about figuring out the responses that make sense for your project's SPECIFIC risks |
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Definition
| Organizational Process Assets |
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| Risks that come from your response to another risk |
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Definition
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| Risks that remain after your risk responses have been implemented |
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Definition
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Term
| This tool used in the monitor and control risk process involves using an outside party to look at your risk response strategies to judge how effective they are |
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Definition
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| This is ALWAYS an output from the monitoring and control process of any knowledge area |
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Definition
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| This is used to organize your risk categories even before you start to identify the risk. Then you decompose the risk categories into individual risk as part of the identify risk process |
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Definition
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Definition
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Term
| are risks that were identified and provisions were made for them |
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Definition
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Definition
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| Risks are considered _____ unknown- an uncertain event that you know about but which may not happen |
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Definition
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Definition
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Term
| What is the process of Risk Management |
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Definition
| Plan Risk Management, Identify risks, Perform Qualitative Analysis, Perform Quantitative Analysis, Plan Risk Responses, Monitor and control Risks |
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Term
| Neumonic for the Risk Management Process |
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Definition
| People In Peru Perform Plan-Risk Management |
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Term
| This is the key output of the Plan Risk Management Process |
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Definition
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Term
| THe key output of the Identify Risk Process |
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Definition
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Term
| What key outputs of the Perform Qualitative Risk analysis process are added to the risk register |
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Definition
| Ranked Risks by category and Watchlist |
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| What outputs of the perform Quantitative Risk Analysis process are added to the risk register? |
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Definition
| Prioritized list of quantified Risks, Probability of achieving the cost and time objectives |
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| What is the key output of the Plan Risk Responses process |
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Definition
Risk Register Updates
Updates to the Project management plan |
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Term
| What are the key outputs of the monitor and control risk processes |
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Definition
| Change Requests, Updates to the Risk Register, Risk Audits, Updates to the project management plan, Org. Process updates |
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Term
| Describe Key things that one need to determine about a risk |
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Definition
| Probability, Impact, Timing, frequency |
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Term
| What are the types of risk? |
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Definition
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Term
| In what process is assumptions analysis done? |
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Definition
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Term
| What is assumptions analysis? |
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Definition
| Exploring the validity of project assumptions |
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| What is risk data quality assessment? |
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Definition
| A method to test the reliability of risk information collected |
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| In what process is Risk Quality Assessment done? |
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Definition
| Qualitative Risk analysis |
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Term
| A model of a decision to be made which includes the probabilities and impacts of future events |
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Definition
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Term
| The person assigned to execute risk responses for each critical event |
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Definition
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Term
| Name the risk response strategies for opportunities |
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Definition
| Exploit, Share, Enhance, Accept |
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Term
| Actions that will be taken if the contongency plan is not effective |
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Definition
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Definition
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| process for contingency reserves |
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Definition
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Definition
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| process form management reserves |
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Definition
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Definition
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Term
| in this document you will find a list of identified risks and a list of potential responses |
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Definition
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Term
| You define probability and impact of risks in this process |
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Definition
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Term
| Risk rankings scale from High to low |
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Definition
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Term
| Probability and Impact Matrix values are set by the organization as part of its |
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Definition
| Organizational Process Assets |
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Term
| This technique is concerned with determing the usefulness of the data gathered to evaluate risk |
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Definition
| Risk Data Quality Assessment |
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Term
| The goal of this process is to rank the risks and determin which ones need further analysis and eventually risk response plans |
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Definition
| Perform Qualitatie Risk Analysis |
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Definition
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Term
| This risk response strategy means to take no actoin and make no plans for the risk |
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Definition
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