L11 Project Risk Management分析和总结最新分析和总结.docxVIP

School of Information Technology Bachelor of Information Technology Project Management: CIT3114 Lecture 11: 19/11/2012 Topic: Project Risk Management Learning Objectives To understand what risk is and the importance of good project risk management To discuss the elements involved in risk management planning To list common sources of risks on information technology projects To describe the risk identification process and tools and techniques to help identify project risks To discuss the qualitative risk analysis process and explain how to calculate risk factors, use probability/impact matrixes, the Top Ten Risk Item Tracking technique, and expert judgment to rank risks To explain the quantify risk analysis process and how to use decision trees and simulation to quantitative risks To provide examples of using different risk response planning strategies such as risk avoidance, acceptance, transference, and mitigation To discuss what is involved in risk monitoring and control To describe how software can assist in project risk management To explain the results of good project risk management Definition A dictionary definition of risk is “the possibility of loss or injury” Project risk involves understanding potential problems that might occur on the project and how they might impede project success Risk management is like a form of insurance; it is an investment Risk utility or risk tolerance is the amount of satisfaction or pleasure received from a potential payoff Utility rises at a decreasing rate for a person who is risk-averse Those who are risk-seeking have a higher tolerance for risk and their satisfaction increases when more payoff is at stake The risk-neutral approach achieves a balance between risk and payoff Risk Management processes The goal of project risk management is to minimize potential risks while maximizing potential opportunities. Major processes include Risk management planning: deciding how to approach and plan the risk management activities for