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Risk Management

Knowledge Shelf Home Page                                                                      = Member Content

 Planning Tools Overlooked in Projects Member content
–Sean Brady, PMP
This article looks at a few tools that can be used in conjunction with each other to enrich the initiating and planning phases. While this article does not attempt to give a detailed description of these tools, we will demonstrate their importance as well as how they can work together, to enrich the initiating and planning phases.

Risk Identification and Assessment Member content
– by Sam Anderson, PMP, CSSBB
One of the most difficult activities in project management is determining what the risks are and how they should be prioritized. The first step in developing a sound Risk Management Plan is to identify risks and determine their potential impact on a project. The purpose of this paper is to investigate why this activity is so difficult, and to suggest a systematic approach to risk identification and assessment.

Visual Ishikawa Risk Technique (VIRT)—An Approach to Risk Management  Member content
– by Rubin Jen, PMP, P. Eng.
Visual Ishikawa Risk Technique (VIRT) is a technique that is consistent with the Identify Risks process group of the PMBOK® Guide and uses a risk breakdown structure as its main principle artefact. However, it differs in that it uses the Ishikawa diagram (commonly also known as a fishbone, or cause and effect diagram), for the risk structure, to create a graphic view, as opposed to being text based or tabular.