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Project Management Orientation

What Is Risk Management? 

Risk management provides an environment for proactive decision making.  As a framework for the iterative process of planning, tracking, and reacting to risk, the risk management process includes:

To address changing conditions and project priorities, you must analyze risks throughout the life of the project, beginning in the project selection phase.  As new risks are identified, you must develop strategies and plans to address them.
  

Risk Management Steps 

The chart on the following page shows the steps that you follow when performing risk management.  Remember, risk management is an iterative process.  You must go through this entire process regularly to ensure that any new risks are identified and addressed. 

Note: Step 4 (risk tracking and control) and step 5 (risk reaction) are covered in Module 10, "Project Control and Execution."

1: Getting Started
2: Define the Project Team
3: Team Management
4: Identify and Validate Requirements
5: Create Decomposition Structures
6: Risk Management
7: Project Estimates
8: Project Schedules
9: Change Management
10: Project Control and Execution
Defining the Project
11: Project Management Review
12: Project Closeout
13: Project Management Tool Suite
14: Self-Assessment and Final Exam
Fast Points
Concepts
Seven Keys
Case Study
WWPMM
Mentor
Check Point
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