logo

Importance of Risk Identification Process in Project Management

6 Pages577 Words204 Views
   

Added on  2019-09-20

About This Document

This article discusses the process of risk identification in project management, its importance, tools used, involvement of stakeholders, and key inputs and outputs. It also highlights the significance of the iterative nature of the process and how it helps in managing uncertainties. The article cites references from Haddush (2016), Pritchard (2014), and PMI (2013).

Importance of Risk Identification Process in Project Management

   Added on 2019-09-20

ShareRelated Documents
Running Head: Risk IdentificationRISK IDENTIFICATION[Document subtitle]
Importance of Risk Identification Process in Project Management_1
Risk Identification1Table of ContentsRisk Identification...........................................................................................................................1Key Input and Output......................................................................................................................1Tools to Identify Risk......................................................................................................................2Involvement in the Risk Identification Process...............................................................................2Importance of Risk Identification Process.......................................................................................2References........................................................................................................................................4
Importance of Risk Identification Process in Project Management_2
Risk Identification2Risk IdentificationRisk Identification is considered as a process of identifying, recognizing, dividing risk events concerned with a particular project. On the other hand, Haddush (2016) defines that it is a process that describes which risk may influence the success of a project and describe their features.Key Input and OutputInputs are essential for handling the risk in a significant manner. Important inputs of measuring risk factors are following:Management plan for riskManagement plan of costManagement plan for human resourcesManagement plans for scheduleActivity cost estimatesOrganization environmental factorsScope baselineProject activities duration estimatesStakeholder estimationQuality management planOrganization process assets
Importance of Risk Identification Process in Project Management_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Reflective Journal on Project Management Methodologies and Techniques
|4
|795
|121

Project Management Plan for LC-01A Building Project
|27
|4180
|117

Project Management - Woolong Company
|4
|453
|19

PMIS Testing Plan, BCP Phases, and Recommendations for Effective Use
|9
|691
|343

MPM7001: Project Management Theory & Practice
|23
|6344
|489

Project Management Plan Template & Guide for Assessment 3 of Unit CNA 613
|26
|6828
|196