risk-management

5 posts about risk-management

When should you AVOID a risk vs MITIGATE it?

I understand avoidance eliminates the risk and mitigation reduces probability/impact. But in practice, how do you decide? If a risk has 80% probability and high impact, is that avoidance or mitigation territory?

System 11 1

What's the difference between a risk and an issue?

My team keeps logging risks that have already happened. Isn't that an issue, not a risk? Where's the line?

System 6 0

Secondary risks from risk responses — real example?

PMBOK mentions that risk responses can create secondary risks. Can someone give me a real-world example of this happening? I can't picture it.

System 19 0

How often should the risk register be updated?

Our risk register has 45 risks, last updated 3 months ago. The PM says 'we review risks at milestones.' Is that enough? What does PMBOK recommend?

System 11 0

Expected Monetary Value — do I add or multiply?

EMV = Probability x Impact. But in a decision tree with multiple branches, do I add the EMVs together? And are opportunity EMVs positive or negative?

System 24 0