From the course: Program Management for IT Professionals
Join today to access over 24,200 courses taught by industry experts.
Risk management - Microsoft Project Tutorial
From the course: Program Management for IT Professionals
Risk management
- [Instructor] Here we review risk management in the engineering phase. Think of risk management as a team activity, that you'll get with a team and you will identify a number of risks. Just simply whiteboard and talk them through it during a team meeting or have them whiteboard for you what the various risks are. In here we have some abstract risks listed out, risks one through four. The first one is low impact and low probability, and it's fine to ignore that. No need to change the plan of record. In this case, not even any need to monitor it. Risk number two is high impact but very low probability. Think probability of getting hit by a comet. It's really bad if that happens but it's pretty much not going to happen, although it is possible. So this one we also, as a team, chosen to ignore. We may alternatively choose to monitor this risk to see if it manifests itself in enough substance to change the plan. But in this case it is high impact, but it's very low probability, so we've…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.