Tuesday, December 6, 2011

Plan Risk Management: ITTO

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The following are the Inputs, Tools & Techniques and Outputs (ITTO) of the process "Plan Risk Management", which is the first project management process in the Project Risk Management knowledge area.


INPUTS:
  1. Project scope statement
  2. Cost management plan
  3. Schedule management plan
  4. Communications management plan
  5. Enterprise environmental factors: Risk attitudes and tolerances that describe the degree of risk that an organization will withstand.
  6. Organizational process assets: Risk categories, common definitions of terms and concepts, standard templates, authority levels for decision-making, lessons learned, stakeholder registers.
TOOLS & TECHNIQUES
  1. Planning Meetings and Analysis:
    Project team hold planning meetings to develop risk management plan. Attendees may include project manager, selected team members and stakeholders, anyone with the responsibility to manage risk planning and execution activities. High level plans for conducting the risk management activities are  defined in these meetings. Risk management responsibilities will be assigned. Probability and impact matrix will be tailored to the specific project. If templates do not exist, they may be generated in these meetings.
OUTPUTS
  1. Risk Management Plan:
    The only output of this process is risk management plan, which becomes a subset of the project management plan.. The risk management plan describes how risk management will be structured and performed on the project. It tells you how you are going to handle risk in the project. It defines how risk will be assessed, who will be responsible for doing it and how often you will do risk planning. Risk Management Plan includes the Methodology, Roles and responsibilities, Budgeting, Timing, Risk categories, Definitions of risk probability and impact, Probability and impact matrix, Revised stakeholders’ tolerances and Reporting formats.
Next process in the Risk Management Knowledge area: Identify Risks

1 comment:

  1. Try out this new web project management tool. I found that using the daily work schedule list really helped my team focus on what they need to do, as it shows the most important tasks they need to work on each day. It’s also really easy understanding where each of your projects stands, which means that you don’t have to spend time digging through daily reports just to see what’s been done where.

    ReplyDelete

Give it a try!