PRO 3003 Pam Soderholm Welcome To Class!. What is PMI’s Definition of Risk? An Uncertain Event or...
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Transcript of PRO 3003 Pam Soderholm Welcome To Class!. What is PMI’s Definition of Risk? An Uncertain Event or...
![Page 1: PRO 3003 Pam Soderholm Welcome To Class!. What is PMI’s Definition of Risk? An Uncertain Event or Condition That, If It Occurs, Has A Positive or Negative.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0221a28abf838cd37e1/html5/thumbnails/1.jpg)
RISK
PRO 3003Pam Soderholm
Welcome To Class!
![Page 2: PRO 3003 Pam Soderholm Welcome To Class!. What is PMI’s Definition of Risk? An Uncertain Event or Condition That, If It Occurs, Has A Positive or Negative.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0221a28abf838cd37e1/html5/thumbnails/2.jpg)
What is PMI’s Definition of Risk?
An Uncertain Event or Condition That, If It Occurs, Has A Positive or Negative
Effect on Project Objectives.
QUALITY
RISK
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The Three Themes That Represent an Organizations Attitude Towards Risk Are:
Risk Appetite: The degree of uncertainty an entity is willing to take on in anticipation of a rewards.
Risk Tolerance: The degree of risk that an entity will withstand.
Risk Threshold: Measures along a level of uncertainty. Below the threshold risk will be accepted, above the threshold it will not be accepted.
RISK
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Which Risk Response Strategy Will Reduce The Probability or Impact of Known Risks?
A) Transfer Risk
B) Mitigate
C) Share
D) Accept
RISK
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“Risk comes from not knowing what you’re doing.”
- Warren Buffett
RISK
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RISK
Control Risks is The Process of Implementing Risk Response
Plans and Identifying New Risks
TRUEor
FALSE
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What is PMI’s Definition of a Project?
RISK
A Temporary Endeavor Undertaken to Create a Unique Product, Service, or
Result.
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RISK
Eight Generic Risk Response Strategies:
• Avoid• Transfer• Mitigate• Accept• Exploit• Share• Enhance• Accept
![Page 9: PRO 3003 Pam Soderholm Welcome To Class!. What is PMI’s Definition of Risk? An Uncertain Event or Condition That, If It Occurs, Has A Positive or Negative.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0221a28abf838cd37e1/html5/thumbnails/9.jpg)
The Tool Below Is Used to Address Risk, What Is It Called?
A) Risk Response Plan
B) Risk Responsibility Chart
RISK
C) Risk Identification Chart
D) Risk Management Matrix
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What is PMI’s Definition of Project Management?
RISK
The Application of Knowledge, Skills, Tools, and Techniques to Project
Activities to Meet The Project Requirements.
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“Risk is like fire: if controlled it will help you; if uncontrolled it will rise
up and destroy you.- Theodore Roosevelt
RISK
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What is a Known Risk?
A Risk That Has Been Identified and Analyzed, Making It Possible To Plan
Responses.
RISK
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Pam’s Definition of Risk:
An Opportunity to Fail or Succeed
RISK