Project Risk Management

One of the most power tools available to risk assessment is being able to orchestrate risk workshops. The success or failure of a project is determined, is by how well we effectively use the tools that are available to us. The best source of your project knowledge is from the team itself. The team combines the knowledge of the project, its goals, objective, schedule, tools and technology. This combination is what enables them to identify the risks the project faces, their relative probability and the impact to the project if any. This paper will assess the component of the risk workshop and risk register in the risk management process. The objective of this workshop is to provide a clear understanding of a particular risk management process and its successful application. This workshop will also provide the participants with all necessary tools, techniques, and principles to help address and alleviate the project risk. It will again, help equip participant to develop project risk register, project risk workshop agenda and brainstorm project strategies to mitigate the risk that may occur in the project throughout the life of it.
Brainstorming
Nielsen states that risk workshops rely on brainstorming techniques to make the collective team knowledge greater than the sum of its parts. The risk workshop team needs to be …show more content…
But specifically to this two-day workshop participants will gain the knowledge and confidence to manage risk for British Petroleum project. It will prepare participants to learn how to prepare risk register and quantify risk for factual analysis. The workshop will again help identify risk tolerance for project scope, schedule, cost, and quality control which will maximize opportunities. The risk objectives should identify the