Section outline

  • At the end of this lecture students should be able to:

    . Understand what risk is and the importance of good project risk management
    . Discuss the elements involved in risk management planning and the contents of a risk management plan
    . List common sources of risks in information technology projects
    . Describe the risk identification process, tools and techniques to help identify project risks, and the main output of risk identification: a risk register
    . Discuss the qualitative risk analysis process and explain how to calculate risk factors, create probability/impact matrixes, and apply the Top Ten Risk Item Tracking technique to rank risks
    . Explain the quantitative risk analysis process and how to apply decision trees, simulation, and sensitivity analysis to quantify risks
    . Provide examples of using different risk response planning strategies to address both negative and positive risks
    . Discuss what is involved in risk monitoring and control
    . Describe how software can assist in project risk management
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