Project risk management includes planning how to conduct risk management, identifying potential risks, analyzing the probability and impact of risks, planning responses to high priority risks, and continuously monitoring risks throughout the project. It utilizes tools like a risk register to track risks and contingency plans to allocate funding to address risks. The key processes are planning risk management, identifying and prioritizing risks, developing risk response strategies, and controlling risks over the life of a project.

1. Risk Management

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3. 3Risk Management
Project Risk Management includes the processes of conducting risk management planning, identification,
analysis, response planning, and controlling risk on a project.
Key Concepts
 Risk Register to track and
monitor Project risks
 Risk Analysis to determine
risk probability & impact
 Contingency Plan to allocate
cost reserve

4. 4Risk Management
11.1 Plan Risk Management—The process of defining how to
conduct risk management activities for a project.
11.2 Identify Risks—The process of determining which risks
may affect the project and documenting their characteristics.
11.3 Perform Qualitative Risk Analysis—The process of
prioritizing risks for further analysis or action by assessing and
combining their probability of occurrence and impact.
11.4 Perform Quantitative Risk Analysis—The process of
numerically analyzing the effect of identified risks on overall
project objectives.
11.5 Plan Risk Responses—The process of developing options
and actions to enhance opportunities and to reduce threats to
project objectives.
11.6 Control Risks—The process of implementing risk response
plans, tracking identified risks, monitoring residual risks,
identifying new risks, and evaluating risk process effectiveness
throughout the project.

5. 511.1 Plan Risk Management

6. 611.2 Identify Risks

7. 711.3 Perform Qualitative Risk Analysis

8. 811.4 Perform Quantitative Risk Analysis

9. 911.5 Plan Risk Responses

10. 1011.6 Control Risks

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