Specialists in Managing Uncertainty

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Risk Management Process
The PBSi Risk Management Process is the structured application of the following five steps:
Identify Risks
Identification converts concerns into manageable statements
  • Searches for project risks
  • States the risk in a standard syntax
  • Enables risk analysis
  • Documents risk description
Analyze and Prioritize Risks
Analysis converts risk statements into decision making information
  • Allows prioritization
  • Removes duplication
  • Supports selection for mitigation/action
  • Simplifies reporting on "top ten"
Plan Mitigation Actions
Action planning creates the responses to mitigate the risks
  • Selects risks for action
  • Identifies suitable strategy
  • Develops mitigation actions
  • Outlines contingency plan and critical date
Track Progress
Risk tracking maintains a relevant risk management process
  • Follows changes in risks
  • Keeps actions current and appropriate
  • Maintains focus on top risks
  • Keeps risks on the project agenda
Control Outcomes
Management Responsibilities
  • Make the difficult decisions
  • Invoke Contingency Plans
  • Make major program changes


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