Risk Management Basics

The focus of this Knowledge Base is Project Risk Management, but risk management can apply to a wider range of activities including businesses and on-going operations.

Please use the aside navigation structure to browse topics of interest.

• RISK MANAGEMENT BASICS
  • WHAT IS RISK MANAGEMENT?
    • What is Risk Management?
    • Definition of Risk
    • Definition of Project Risk Management
    • Principles of Risk Management
    • Framework of Risk Management
  • RISK MANAGEMENT PROCESS
    • Risk Management Process
    • Process Diagram
    • Establishing the Context
    • Risk Identification
  • RISK ANALYSIS
    • Risk Analysis
    • Qualitative Risk Analysis
    • Quantitative Risk Analysis
    • Collecting Risk Analysis Inputs
    • Risk Evaluation
    • Risk Treatment
    • Communication & Consultation
    • Monitoring & Review
  • RISK ATTRIBUTES
    • Risk Attributes
    • Risk Properties
    • Risk Treatments / Mitigations

• SCHEDULE RISK ANALYSIS
  • BASIC CONCEPTS
    • What is schedule risk analysis?
    • Why Perform Schedule Risk Analysis?
    • When to Perform Schedule Risk Analysis
    • Common Sources of Schedule Uncertainty
  • SCHEDULE RISK ANALYSIS PROCESS
    • Schedule Risk Analysis Process Overview
    • Schedule Preparation
    • Gathering Schedule Uncertainty Information
    • Assigning Schedule Uncertainty Ranges
    • Duration Risk Factors
    • Mapping Risks to the Schedule
    • Weather Modelling in Schedule Risk Analysis
    • Probabilistic Links & Branching
    • Duration Correlation
    • Schedule Monte Carlo Simulation
    • Interpretation of Schedule Analysis Results
    • Examination of Schedule Drivers

• INTEGRATED COST & SCHEDULE RISK ANALYSIS
  • BASIC CONCEPTS
    • What is Integrated Cost & Schedule Risk Analysis?
    • The Evolution of the IRA Methodology
    • Why preform Integrated Cost & Schedule Risk Analysis?
    • When to preform Integrated Cost & Schedule Risk Analysis
    • Common Sources of Cost Uncertainty
    • The Importance of Commercial Arrangements
  • IRA PROCESS OVERVIEW
    • IRA Process Overview
    • Review Project Estimate & Risk Register
    • Conduct Risk Identification & Assessment Workshops
    • Mapping Costs to Schedule Tasks
    • Cost Correlation
    • Cost Risk Factors
    • Mapping Cost Risk Events
    • Other PRA Cost Functions
    • Integrated Cost & Schedule Monte Carlo Simulation
    • Interpretation of Cost Analysis Results
    • Examination of Probabilistic Cost Drivers

• Published Articles
  • Forecasting Profit vs. Loss
  • Integrated Cost & Schedule Risk Analysis Methodology

• Useful Links
  • Integrated Cost and Schedule Risk Analysis using Monte Carlo Simulation of a CPM Model (June 2011)
  • CPM Schedule Risk Modeling and Analysis: Special Considerations (May 2012)

• YouTube Tutorials X
  • Introduction to Schedule Risk Analysis
  • Introduction to Schedule Risk Analysis: Video 02