Successful Project Management

6

Managing Risk and Quality

Learning Objectives By the end of this chapter, you should be able to: • Describe how risk and quality relate to other project constraints. • Define the concept of risk in project management. • List the steps in the risk management process, including: • Define risk, risk management threat, opportunity, business risk, pure risk, risk tolerance, risk thresholds, residual risk, and secondary risk as they relate to project planning. • Describe the fundamental formula of risk and its role in calculating expected monetary value and preparing decision trees. • Develop a risk management policy based on templates. • List ...