plan risk responses : pmp : project risk management
DESCRIPTION
This presentation is about Planning risk responses. This presentation talks about response strategies for positive and negative risks. We also conducted web session using this presentations and recording of web session can be found here https://www.youtube.com/watch?v=b5UTxqw1UawTRANSCRIPT
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PMP is a registered trademark of the Project Management Institute, Inc.
Plan Risk
Responses– PMP®
Prep Topic
Saket Bansal
© 2013 iZenBridge | CONFIDENTIAL
© 2013 iZenBridge | CONFIDENTIAL
Agenda
Introduction
Strategies for Negative Risks
Strategies for Positive Risks
Q & As
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© 2013 iZenBridge | CONFIDENTIAL
• Roy is the Project Manager of a highway construction
project. During a risk review meeting, Roy realizes that
risk of vendor defaulting from commitment has occurred.
To take appropriate action against this risk , Roy needs
to refer to which document?
A. Risk Management Plan
B. Project Management Plan
C. Issue Log
D.Risk Register
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Plan Risk Responses
Plan Risk Responses is the process of developing options
and actions to enhance opportunities and to reduce
threats to project objectives.
- PMBOK® Guide Fifth Edition
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• When the risk responses are planned ?
A. After developing risk management plan
B. After documenting risks in risk Register
C. After performing risk analysis
D. After the occurance of risk
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Plan Risk
Responses
Plan Risk
Management Identify Risks
Project
Documents
Develop
Project
Management
Plan
Analysis
?
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Strategies for Negative Risks
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Negative Risks
Avoid Removes Change Plan
Mitigate Reduces Upfront work
Transfer Redirect Pay Premium
Accept Residual Contingencies
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Which response
strategy to apply ?
Criticality
Level
Avoid Mitigate Transfer Accept
High Low
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• You are working on road construction project and you
realized the proposed road is passing though the disputed
land and because of this dispute you have risk of not
getting approval from authorities on time, you discussed
this problem with your stakeholders and made them
agreed to change the path of road in such a way that this
area is now not covered in your project scope. Which risk
response strategy is applied here?
A. Avoid
B. Accept
C. Mitigate
D. Exploit
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Smoking can cause cancer.
Plan some risk response
strategies... avoid, mitigate ,
transfer and accept ?
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Strategies for Positive Risks
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© 2013 iZenBridge | CONFIDENTIAL
Positive Risks
Exploit Reality Change Plan
Enhance Increase Upfront work
Share Involve Share Cost
Accept Residual Contingencies
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• You are working on one software development project
and you application needs component for user
authentication management, you realized that another
team is also working on project which also needs the
same component. How can you exploit , enhance or
share this risk?
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