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| <mainDescription><h3>
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| Introduction to Risk Management
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| </h3>
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| <p>
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| Every project contains some measure of uncertainty. <strong>Risk Management</strong>&nbsp;deals with this uncertainty,
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| trying to understand its&nbsp;potential influence on the project. The purpose of Risk Management is to increase the
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| probability and impact of positive events and decrease the probability and impact of events adverse to the project [<a class="elementLinkWithUserText" href="./../../../core.tech.common.base/guidances/supportingmaterials/references.tech_6CCF393.html#PMI04" guid="_9ToeIB83Edqsvps02rpOOg">PMI04</a>]. The project manager, team, and stakeholders should be involved in risk
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| management.
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| </p>
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| <h3>
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| Identify Risks
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| </h3>
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| <p>
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| Identify risks as soon as the project starts and document them in the risk list.&nbsp;Continue identifying and managing
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| risks throughout the project. A common mistake is to identify risks only at the beginning of the project and then only
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| track the status of these initial risks. Revisit the risk list weekly, or as a minimum when performing iteration
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| planning,&nbsp;and add any newly discovered risks to the list.
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| </p>
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| <h3>
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| Prioritize Risks
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| </h3>
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| <p>
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| Prioritize risks for further analysis or action. A good approach for prioritizing risks is to have an attribute called
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| risk magnitude, a combination of the risk probability and the risk impact. Each iteration provides a chance&nbsp;for
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| better understanding of stakeholder needs, the team capabilities, the technology at hand, and so on. Capture, qualify
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| and prioritize risks as they arise. High magnitude risks are&nbsp;attacked first, thus&nbsp;improving the chances of
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| project success and minimizing uncertainty.
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| </p>
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| <h3>
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| Select Risk Response Strategies
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| </h3>
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| <p>
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| You are trying to mitigate or tackle the high priority risks as early as possible in the project. In order to achieve
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| this you need to get a good grip on the risks the project is faced with, and have clear strategies on how to mitigate
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| or deal with them.&nbsp; Once you have chosen a set of risks to focus on, develop options and determine actions to
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| enhance opportunities and reduce threats, selecting a strategy, as described in <a class="elementLinkWithType" href="./../../../core.mgmt.common.extend_supp/guidances/concepts/risk_AF5840DA.html" guid="_0bsLgMlgEdmt3adZL5Dmdw">Concept: Risk</a>. Sometimes strategies can be determined for each cause, rather than each risk, eliminating many risks at once.
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| </p>
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| <h3>
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| Plan Risk Response
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| </h3>
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| <p>
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| For each selected strategy, identify and assign tasks to apply the strategy to the given risk. Place those tasks on the
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| work items list&nbsp;so they can be assigned to iterations. Keep a&nbsp;reference to the risk for traceability. The
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| effort must be appropriate to the magniture of the risk. Avoid spending more preventing a threat than the impact from
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| the risk if it occurs.
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| </p>
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| <h3>
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| Monitor Risks
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| </h3>
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| <p id="comment_text_4">
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| Follow up regularly on risk-mitigation actions. Risk reviews should be held&nbsp;when&nbsp;assessing the results during
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| a project milestone to determine whether the information about project risks is up to date, and to assess whether any
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| changes are necessary. The team may decide to try another strategy if the chosen strategy does not reduce/increase the
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| magnitude of a risk.
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