11.1 Flash Cards (risk mgt)

Question	Answer
Overall project risk	individual risks, representing the exposure of stakeholders to the implications of variations in project outcome, both positive and negative.
Individual project risk	is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.
Ambiguity risk	Uncertainty exists about what might happen in the future.
What is? uncertainty exists about some key characteristics of a planned event or activity or decision.	Variability risk.
Project Charter, Project management plan, project documents, enterprise environmental factors and organizational process assets	Inputs
Tools and Techniques	(1) Expert Judgment (2) Data Analysis (3) Meetings
Outputs	Risk Management Plan
Positive Risk	a condition or situation favorable to the project that, if it occurs, will have a positive impact on any of your project objectives.
Negative Risk	always harm your project; therefore, it is necessary for you to manage them accordingly.
project team member who is assigned the responsibility of ensuring that the risk response is effective, and to plan additional risk response if required.	Risk Owner

Resource summary

	Created by Tiesha Hall almost 7 years ago