RISK MANAGEMENT CERTIFICATION PROGRAM

PLANNING RISK MANAGEMENT

REDUCING THE UNCERTAINTY OF RISK

PLANNING RISK MANAGEMENT

‣ IDENTIFY THREE RISK
FACTORS
‣ REDUCE UNCERTAINTY

REDUCING THE
UNCERTAINTY OF RISK
‣ RESPOND PROACTIVELY TO RISKS
‣ REDUCING UNCERTAINTY
‣ DETERMINING APPROPRIATE
RESPONSES
‣ ELIMINATE SOME OF THE
NEGATIVE OUTCOMES
‣ TAKE ADVANTAGE OF POSITIVE

REDUCING THE
UNCERTAINTY OF RISK
‣ DETERMINE
‣ THE PROBABILITY OF A
RISK OCCURRING
‣ THE CONSEQUENCES
AND IMPACT
‣ THE POTENTIAL CAUSES

REDUCING THE
UNCERTAINTY OF RISK
‣ PROBABILITY IS THE
CHANCE OF SOMETHING
HAPPENING
‣ BASED ON YOUR
EXPERIENCE
‣ CONSULT HISTORICAL
RECORDS

REDUCING THE
UNCERTAINTY OF RISK
‣ A RISK CAN IMPACT ANY
AREA OF A PROJECT
‣ LOOK AT ITS SEVERITY
‣ QUANTIFY THE RATINGS
AND GIVE EACH A
THRESHOLD

REDUCING THE
UNCERTAINTY OF RISK
‣ STANDARDIZE THE
LANGUAGE THAT THE
PROJECT TEAM USES
‣ SEVERITY OF THE IMPACT
OF A RISK OFTEN
DEPENDS ON THE STAGE
THE PROJECT

REDUCING THE
UNCERTAINTY OF RISK
‣ YOU CAN FIND WAYS TO
AVOID OR MITIGATE RISK
‣ REDUCE ITS PROBABILITY,
IMPACT, OR BOTH
‣ EXPLORE REASONS WHY A
RISK IS LIKELY TO HAPPEN

REDUCING THE
UNCERTAINTY OF RISK
‣ EG. IDENTIFY THE RISK OF
LOSING A SENIOR MEMBER
OF THE PROJECT TEAM
‣ LIKELIHOOD
‣ IMPACT
‣ CAUSE OF RISK

REDUCING THE
UNCERTAINTY OF RISK
‣ RISK MANAGEMENT
‣ REDUCING UNCERTAINTY
ABOUT IDENTIFIED RISKS
‣ DETERMINING
APPROPRIATE
RESPONSES TO RISK

REDUCING THE
UNCERTAINTY OF RISK
‣ TO ASSESS A RISK
‣ DETERMINE PROBABILITY
‣ INVESTIGATE
‣ CONSEQUENCES AND
IMPACTS
‣ ESTABLISH CAUSES

REDUCING THE
UNCERTAINTY OF RISK
RISK MANAGEMENT CERTIFICATION PROGRAM

PLANNING RISK MANAGEMENT