Flashcards
Risk management
Flashcards do conjunto (20)
- 1What is risk ?Risk is uncertainty that has an impact on project primary objectives in either positive or negative way.
- 2What are internal sources of risk ?Senior management
Project team and management
Organization of the project - 3What are external sources of risk ?Acts of nature
The client
Laws and standards - 4What are two subcategories of risk management ?Risk assessment
Risk control - 5What is risk assessment ?A risk subcategory which deals with risk identification, risk analysis and risk prioritization.
- 6What is risk control ?A subcategory of risk management which involves risk planning, risk migration and risk monitoring.
- 7What are types of risks ?Generic risks
Product-specific risks
Project risks
Product risks
Business risks - 8What is generic risk ?A risk that are threats to any project. Those include bankruptcy, loss of key personal values and change.
- 9What are product-specific risks ?More quantified state of a generic risk.
Revolving around the project. It is identified by those who understand project details. - 10What are project risks ?A division of generic risks.
Has impact on schedule and/or resources, such as personal resources or budget. - 11What are product risks ?Further quantification of project-specific risk.
This affects quality and performance of the software. - 12What is business risk ?A little bit generic and a little bit product risk.
Deals with questions such as will the product be sold well on market, will it be used enough, does the product fin in the goal, etc. - 13What are factors that affect identifying of risk ?People
Project size
Process
Technology
Tools
Organizational, managerial and customer estimation
Sales
Support - 14How is risk probability evaluated ?It is either:
Put on a numerical scale for easier analysis. For example, 20% of chance to lose an employee, etc.
OR
Put in a category (very possible, highly improbable, etc.) - 15What is risk impact evaluation ?Evaluating what would happen if risk affected the project.
- 16What is delphi technique ?Every team member evaluates risks' probability individually, and proceed to have a debate about evaluation afterwards.
- 17How should we deal with risks ?Since dealing with all risks is redundant and unnecessary in most cases, we prioritize them, and try to solve them from top to bottom. (top - high priority)
High probability risks should be high priority. - 18How can we divide risk control ?Mitigation and Monitoring
- 19What is risk mitigation ?Calculating whether risk benefits would outweight risk costs.
Sometimes involves calculating risk leverage. - 20What is risk leverage formula ?Risk Leverage = (risk exposure before reduction – risk exposure after reduction)/cost of risk reduction
Informações
- Descrição
- Preparation for final exam from production management on burch university - risk management topic.
- Criado por
- Amer Zavlan
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