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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



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