PMBOK® Guide - Sixth Edition: 23-Risk Response, Monitor and Control

Upon completion of this course, you will have gained an appreciation of the intricacies involved with planning appropriate risk response activities along with monitoring and controlling project risk. Planning risk response is the process of developing options that either reduce threats or promote opportunities. By quantifying and analyzing risks at the activity level, the project team has the ability to prioritize risks and optimize plan of action so that resource and budget constraints are taken into consideration. This helps maintain equilibrium within the project and helps deliver its products on time and within budget. This process occurs after quantitative risk analysis activities are complete when each risk response is based on a thorough understanding of how it will address an impact the risk. Risk response activities also identify accountable individuals and groups responsible for the agreed-upon mitigation and ownership of any potential issue should one arise.

Materials in this class are based on the text, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide)