DİPLOMATİK YAZIŞMA VE PROTOKOL - Deneme Sınavı - 9

The risk monitoring process is part of a monitoring and controlling process group. It is also the last process in the project risk management knowledge area.

During risk response planning, strategies you may identify for responding to threats include escalating, avoiding, transferring, mitigating, or accepting negative risks.

Exploit is a strategy to be used when responding to positive risks.

As a result of risk monitoring process, the following outputs are obtained: work performance information, change requests, project management plan updates, project documentation updates, and corporate process assets updates.Risk Register appears at the end of the risk identification process.

Decision Tree Analysis - The importance of risk in a project is not only related to the magnitude of its damage. The likelihood of risk is also effective. Based on this principle, it is possible to evaluate the threat value on the project as time and money with decision tree analysis. It is called a decision tree because it allows the presentation of a diagram representing the choices between at least two or more options.

The Project Risk Management Methodology is an explanation of how you plan to implement the project risk management plan.

Brainstorming - Brainstorming is to obtain a comprehensive list of individual project risks and sources of overall project risk (PMI®, 2017, p. 414). An efficient brainstorming session can help you to see the many risks associated with the project in a short time. For the success of the brainstorming sessions, people with different backgrounds, perspectives and expertise should be brought together. A brainstorming session will make it easier for you to set risk categories (techniques, processes, etc.) that you have previously set.

SWOT analysis lists factors that have a definite impact on the project. The best way to perform SWOT analysis is to create a simple matrix for each of the four factors: Strength, Weaknesses, Opportunities, and Threats.

Risk categorization includes technical, external (suppliers, legal, etc.), and internal (infrastructure, resources, etc.) risk groups. It identifies the areas that may affect the project the most and provides the right risk response plan.

Expert Judgement - The purpose of taking expert judgement is to collect data on the likelihood of achieving project objectives by addressing the impacts of risks. The questions to be asked to the experts are explained in the following sections.

Decision Tree Analysis - The importance of risk in a project is not only related to the magnitude of its damage. The likelihood of risk is also effective. Based on this principle, it is possible to evaluate the threat value on the project as time and money with decision tree analysis. It is called a decision tree because it allows the presentation of a diagram representing the choices between at least two or more options.

Mitigation: Mitigation includes reducing the likelihood of risk occurring or the effect of damage. For example, having the tests performed by two different end-users to prevent errors in a software project increases the likelihood that one tester will catch the error missed by another. Another example: When agreeing with a supplier, selecting a supplier who has already worked with our company can reduce many risks.

Reserves are project funds but may include time, money, and staff. It is used to offset the impact of a risk on the scope, time, cost, or quality of a project. When determining reserves, risk tolerances in targets are taken into consideration. The lower the risk tolerance, the higher the reserves. The reserves of a project whose deadline is legally the night of 31.12.2020 will be higher than any other project with time tolerance.

Technical performance analysis - Technical performance analysis focuses on product-related risks such as scope, functionality, and quality. It compares actual and planned technical achievements. Success of technical performance analysis depends on the team that determines the performance parameters at the beginning of the project. It includes measurements of the product’s characteristics such as size, speed, or capacity.

Sensitivity analysis - Sensitivity analysis is an analysis technique used to determine which variables in a system affect the system more. By fixing other variables, the effect of a variable on the system is tested by changing the values. For each of the variables, you can determine which one has the greatest effect by repeating the process one by one.

To reduce uncertainty in projects, you must first identify the likelihood, consequences, impact, and possible causes of the risk that needs to be taken.

Brainstorming, SWOT analysis, Interviews, and Root cause analysis are examples of risk identification tools and techniques in project management.

The Risk Records, Assumption Log, and Stakeholder Register are inputs that contain detailed information on the risks to be analyzed. Records from past completed projects, similar to the project you are working on, help etermine how to prioritize specific risks.

Risk categorization includes technical, external (suppliers, legal, etc.), and internal (infrastructure, resources, etc.) risk groups. It identifies the areas that may affect the project the most and provides the right risk response plan.

Expected Cost = (90000 + 4x170000 + 190000) / 6 = $ 160000