In this topic we discuss
Understand risk and issue management as the ability to identify and monitor risks (threats and opportunities); plan responses to those risks and respond to issues.
Learning outcomes
- Understand the benefits of risk and issue management and the role of contingency planning in projects.
- Understand the purpose and importance of each stage in a risk management process (such as identification, analysis, monitoring, escalation, response and closure) and an issue management process (such as logging and analysis, escalation, and assignment of actions) – and – Understand why these stages are different for linear and iterative life cycles.
- Know proactive and reactive responses to risks (such as avoid, reduce, transfer or accept and exploit, enhance, share or reject).
- Understand why governance is important in risk and issue management.