Risk Handling Technique.
Plans are made for the risks which are selected for the action by taking the input of high priority risk list. Figure 2 shows the specific questions that can be helpful to focus on the sort of planning required. To demonstrate the kinds of actions that can be carried out while using each risk handling technique, we have chosen the following two risks:
• he reliability level of the software delivered by the subcontractor is below the required reliability level and as a result the reliability of the software does not fulfill the performance specifications.
• The interface having new control device is not defined. So the driver of the device may take more time then scheduled to implement it.
Following is the brief difference between project management and risk management. …show more content…
Find references from previous customers and check reliability of past items.
The interface having new control device is not defined. So the driver of the device may take more time then scheduled to implement it. Establish connection with the provider of device to get previous design specifications for the product.
Find out interface details for other same devices by the same device provider.
Can we transfer the risk? If we can afford to pay to an organization to assume all or just a part of the risk , we can make a plan to transfer risk to any other organization. Like we can pay a disaster recovery firm to provide us with backup in case of a disaster that might destroy critical information.
Should we take actions ?
If we decide to tackle the risk , we should first create list of possible risk reduction actions that can be taken for risk elimination. Following are two critical type of risk reduction actions:
• Actions that eliminate the probability of risk occurrence.
• Such actions which reduce the impact of risks .
These categories may include actions such as conducting a performance simulation , establishing a liaison
Plans are made for the risks which are selected for the action by taking the input of high priority risk list. Figure 2 shows the specific questions that can be helpful to focus on the sort of planning required. To demonstrate the kinds of actions that can be carried out while using each risk handling technique, we have chosen the following two risks:
• he reliability level of the software delivered by the subcontractor is below the required reliability level and as a result the reliability of the software does not fulfill the performance specifications.
• The interface having new control device is not defined. So the driver of the device may take more time then scheduled to implement it.
Following is the brief difference between project management and risk management. …show more content…
Find references from previous customers and check reliability of past items.
The interface having new control device is not defined. So the driver of the device may take more time then scheduled to implement it. Establish connection with the provider of device to get previous design specifications for the product.
Find out interface details for other same devices by the same device provider.
Can we transfer the risk? If we can afford to pay to an organization to assume all or just a part of the risk , we can make a plan to transfer risk to any other organization. Like we can pay a disaster recovery firm to provide us with backup in case of a disaster that might destroy critical information.
Should we take actions ?
If we decide to tackle the risk , we should first create list of possible risk reduction actions that can be taken for risk elimination. Following are two critical type of risk reduction actions:
• Actions that eliminate the probability of risk occurrence.
• Such actions which reduce the impact of risks .
These categories may include actions such as conducting a performance simulation , establishing a liaison