Tracing PMP Documents ITTO through all processes: Risk Register

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seebabhatia
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Tracing PMP Documents ITTO through all processes: Risk Register

Postby seebabhatia Wed Aug 21, 2019 2:07 am

Risk Register Tracing:
-Identify Stakeholder: It is used to identify risks in this process
-Develop Schedule: It is referred to in order to take into account the impact of risks and to create reserves and used to jot down threats or opportunities perceived through scheduling assumptions
-Estimate Cost: It is used to generate cost estimates for risk responses. the responses can be updated when appropriate risk responses are chosen and agreed upon during this process
-Develop Budget: It is an input to understand how to aggregate risk response costs and to jot down any new risks identified in this process
-Plan Quality Management: It is an input to this process as it is referred to understand how threats and impacts affect quality requirements and also updated with new risks identified in the process
-Plan Resource Management: It is referred to understand how opportunities and threats impact resource planning and updated with risks associated with team and physical resource availability
-Estimate Activity Resources: the risk register is referred to understand risks about resource selection and availability. There is no output.
-Identify Risk - It creates a risk register with a list of identified risks, potential risk owners, and list of potential risk responses
-Perform Qualitative Risk Analysis - the risk register is updated with probability and impact assessments, nominated risk owner, risk categorization, and a watch list for low priority risks
-Perform Quantitative Risk Analysis - the risks will be analyzed quantitatively
-Plan Risk Responses - the risk register is referred as the priority level of each risk can help the selection of appropriate risk responses. The preliminary risk responses are also confirmed here. It also contains root causes, risk triggers, warning signs, and risks needing additional analysis to support planning risk responses. The risk register is updated with agreed upon risk response strategies, specific actions to implement strategy, trigger conditions and warning signs of risk occurrence, budget and schedule activities to implement chosen responses, fallback plan when primary responses prove to be inadequate, residual risks, and secondary risks
Plan Procurement Management - The risk register is referred to understand how risks are transferred via procurement agreement.
Direct and Manage Work - The risk register provides threats and opportunities that impact project execution. New risks may be identified and the need to update existing risks as well but the risks are recorded in the risk register via risk management processes.
In Manage Quality process, risks are identified and recorded in risk register but managed using risk management processes. It is not an input.
In Acquire Resource process, risks are identified and recorded in risk register but managed using management processes. It is not an input.
In Manage Communication, risks associated with managing communications are identified and recorded in risk register
In Implement Risk Response process, the risk register will be referred to for agreed-upon risk Responses and nominated owners and may be updated to reflect any changes in risk response
In Conduct Procurement, each approved seller comes with its own unique set of risks depending on the seller’s organization, duration of contract, external environment, project delivery method, type of contracting vehicle chosen, and final agreed upon price.
In Monitor and Control work process, the risk register is referred to review information on threats and opportunities that have occurred during execution and new risks are identified and recorded during this process and managed using risk management processes.
Control Schedule - The risk register and risk response plan may be updated after using schedule compression techniques. It is not an input.
Control Costs - The risk register is updated if cost variances have crossed
Cost threshold. It is not an input.
Control Quality - new risks identified are recorded and managed using risk management processes. It is not an input.
Control Resources - The risk register identifies individual risks that can impact equipment, materials or supplies. It is updated with any new risks associated with resource availability, utilization, or other physical resource risk
Monitor Risk - The risk register has key inputs like identified risks, risk owners, agreed-upon risk Responses, specific implementation actions. It is especially helpful in this process for assessing effectiveness of response plans, symptoms and warning signs of risk, residual, and secondary risks, and a watch list of low priority risks. The risk register may be updated with outdated risks, new risks, risks that were realized, and updating risk Responses
Control Procurement - changes are made to risk register during execution as early risks may no longer be applicable and new risks occur
Monitor Stakeholder Engagement - It has risks related to stakeholder engagement and interactions. The stakeholder risks can be updated.
Close Project or Phase - it is referred to review all the risks that occurred in the project.



It is not used in the Sequence Activity process Develop Charter process, Develop PMP Process, all planning scope processes, Plan Schedule Management Processes, Define Activities process, Sequence Activities process, Estimate Activity duration process, Plan Cost Management, Plan Communication process, Plan Stakeholder Engagement process, Manage Project Knowledge process, Develop Team process, Manage Team process, Manage Stakeholder Engagement process, Perform Integrated Change Control process, Validate Scope process, Control Scope process, Monitor Communication process

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