by Nate Brummer | May 28, 2021
Schedule ForecastsSchedule forecasts are estimates or predictions of conditions and events in the project’s future based on information and knowledge available at the time of the forecast. Forecasts are updated and reissued based on work performance information...
by Nate Brummer | May 28, 2021
Probability and impact matrixRisks can be prioritized for further quantitative analysis and planning risk responses based on their risk rating. Ratings are assigned to risks based on their assessed probability and impact. Evaluation of each risk’s importance and...
by Nate Brummer | May 28, 2021
Risk categorizationRisks to the project can be categorized by sources of risk (e.g., using the RBS), the area of the project affected (e.g., using the WBS), or other useful categories (e.g., project phase) to determine the areas of the project most exposed to the...
by Nate Brummer | May 28, 2021
Assessment of other risk parametersThe project team may consider other characteristics of risk (in addition to probability and impact) when prioritizing individual project risks for further analysis and action. These characteristics may include but are not limited to:...
by Nate Brummer | May 28, 2021
Risk probability and impact assessmentRisk probability assessment investigates the likelihood that each specific risk will occur. Risk impact assessment investigates the potential effect on a project objective such as schedule, cost, quality, or performance, including...
