PMBOK® Guide - Sixth Edition: 23-Risk Response, Monitor and Control (RVLS-2880)
Risk Response, Monitor and Control will help you appreciate and understand the intricacies involved with planning appropriate risk response activities along with monitoring and controlling project risk. Planning risk response is the process of developing options that either reduce threats or promote opportunities. By quantifying and analyzing risks at the activity level, the project team has the ability to prioritize risks and optimize plan of action so that resource and budget constraints are taken into consideration. This helps maintain equilibrium within the project and helps deliver its products on time and within budget. This process occurs after quantitative risk analysis activities are complete when each risk response is based upon a thorough understanding of how it will address an impact the risk. Risk response activities also identify accountable individuals and groups responsible for the agreed-upon mitigation and ownership of any potential issue should one arise.
Health, Safety and Welfare
At the end of this course, you will be able to: Explain the application of a risk response; Plan and implement risk response activities; Perform monitoring and controlling activities; Identify both negative and positive risks; Describe what to do when encountering each type of risk; Identify mitigation opportunities; Understand project constraints and methodologies applied to maintain and manage them; Plan risk responses; Project risk management plans; Address strategies for negative risk, positive risks, and contingency planning; Explain the importance of expert judgment
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