The objective of the Risk, Issue and Change Management component is to give the PM the necessary knowledge and instruments to be able to face any events that might have an impact on the project’s products, resources, stages or objectives.
In this section both the Risk Management and the Issue and Change Management procedures will be defined as well as the categorisations that can be used to facilitate the identification, assessment and resolution of uncertain or un-forecasted events. These activities are the PM’s responsibility and should be performed in a proactive way.
The PM should actively monitor the project context and environment to identify any possible threat or opportunity and to deal with any problem that may have an impact on project progress. Additionally the PM must plan how these activities will be performed during the project as well as documenting any standards and policies to be applied.
The procedures, tools, techniques and responsibilities involved in the Risk, Issue & Change Management activities will be documented in the Risk and Issue Management Plan created during the Project Initiation process.
Although the procedures to deal with them are similar, Risks and Issues are different in nature. A procedure for each is outlined in this section. Furthermore, as the impact of Risks or Issues might result in a deviation from the forecasted tolerance levels, the Exception Procedure is also covered in this section.
Both the Risk and Issue Management procedures are a PM’s responsibility, however, it is extremely important for their correct application, that the correct people are involved during the various steps of the procedure to help the PM with decision making activities, impact and probability assessments and overall monitoring of the effect of the events on the project objectives to ensure project success.
The objective of the Risk, Issue and Change Management component is to give the PM the necessary knowledge and instruments to be able to face any events that might have an impact on the project’s products, resources, stages or objectives.In this section both the Risk Management and the Issue and Change Management procedures will be defined as well as the categorisations that can be used to facilitate the identification, assessment and resolution of uncertain or un-forecasted events. These activities are the PM’s responsibility and should be performed in a proactive way.The PM should actively monitor the project context and environment to identify any possible threat or opportunity and to deal with any problem that may have an impact on project progress. Additionally the PM must plan how these activities will be performed during the project as well as documenting any standards and policies to be applied.The procedures, tools, techniques and responsibilities involved in the Risk, Issue & Change Management activities will be documented in the Risk and Issue Management Plan created during the Project Initiation process.Although the procedures to deal with them are similar, Risks and Issues are different in nature. A procedure for each is outlined in this section. Furthermore, as the impact of Risks or Issues might result in a deviation from the forecasted tolerance levels, the Exception Procedure is also covered in this section.Both the Risk and Issue Management procedures are a PM’s responsibility, however, it is extremely important for their correct application, that the correct people are involved during the various steps of the procedure to help the PM with decision making activities, impact and probability assessments and overall monitoring of the effect of the events on the project objectives to ensure project success.
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