Risk Management: Concepts and Guidance

RISK PROCESSES AND PRACTICES: WHY RISK MANAGEMENT? Risk Management Practices A Systematic Process Summary Risk Concepts Risk Attitudes and Appetites Classifying Risk Risk Breakdown Structure Risk Taxonomy Risk Facets Other Risk Categories Taxonomically Developed Risks Other Relevant Considerations Risk Management Perspectives Realities of Project Management Summary The Risk Management Structure Risk Management Planning Description and Project Summary Risk Environment Approach to Risk Management Application Issues and Problems Other Relevant Plans Risk Governance Approach Summary Bibliography Approvals Identify Risks Documentation Reviews Information-Gathering Techniques Checklists Assumptions Analysis Diagramming Techniques Perform Qualitative Analysis Baselining Risk Rating Schemes and Definitions Assumptions Testing Risk Modeling Using Analogies Conducting Data Quality Assessments Risk Categorization Risk Urgency Assessment Perform Quantitative Analysis Expert Interviews Expected Monetary Value (EMV) Decision Tree Analysis Program Evaluation and Review Technique Sensitivity Analysis Simulations Plan Risk Responses Risk Avoidance Risk Transference Risk Mitigation Risk Acceptance Opportunity Exploitation Opportunity Sharing Opportunity Enhancement Opportunity Acceptance Monitor and Control Risks Summary RISK MANAGEMENT TECHNIQUES Expert Interviews Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Planning Meetings/The Risk Management Plan Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Risk Practice Methodology Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Documentation Reviews Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability 100 Selection Criteria Resource Requirements Applications Outputs Summary Analogy Comparisons Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Plan Evaluation Technique Description Using the WBS for Risk Identification Using Specifications for Risk Identification Using Statements of Work (SOWs) for Risk Identification Developing a Technical Risk Dictionary or Risk Register Using Other Plans for Risk Identification When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Delphi Technique Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Brainstorming Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Crawford Slip Method (CSM) Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary SWOT Analysis Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Checklists Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Risk Breakdown Structure Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Root Cause Identification and Analysis Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Risk Registers/Tables Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Project Templates Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Assumptions Analysis Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Decision Analysis-Expected Monetary Value Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Estimating Relationships Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Network Analysis (Excluding PERT ) Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary PERT Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Other Diagramming Techniques Technique Description When Applicable Inputs and Outputs Major Steps in Applying These Techniques Flowcharts Ishikawa (Fishbone) Diagrams Force Field Diagrams Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Rating Schemes Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Scheme Development Scheme Application Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Urgency Assessment Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Futures Thinking Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Risk Modeling Technique Description When Applicable Inputs and Outputs Model Development Model Application Major Steps in Applying the Technique Model Development Model Application Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Sensitivity Analysis Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Monte Carlo Simulations Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Risk Factors Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Risk Response Matrix /Pugh Matrix Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Performance Tracking and Technical Performance Measurement Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Supplemental Information Technical Performance Schedule Performance Cost Performance Selection Criteria Resource Requirements Applications Outputs Summary Risk Reviews and Audits Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Resource Requirements Applications Outputs Summary Other Common Techniques Cost Performance Reports Analysis Independent Technical Assessment Technique Description When Applicable Inputs and Outputs Major Steps in Applying the Technique Use of Results Resource Requirements Reliability Selection Criteria Independent Cost Estimates Glossary Appendix A: Contractor Risk Management Appendix B: An Abbreviated List of Risk Sources Appendix C: Basic Probability Concepts Appendix D: Quantifying Expert Judgment Appendix E: Special Notes on Software Risk Index