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Describe the Four Steps in the Risk Management Process

STEP 1-RISK PLANNING: (Risk Management Plan, etc.)

STEP 2-RISK ASSESSMENT/IDENTIFICATION/ANALYSIS

(RISK IDENTIFICATION: Life-Cycle Cost Analysis, Plan/WBS Plan Decomposition, Schedule Analysis, Lessons Learned Files, Expert Judgement, Baseline Cost Estimates, etc.)

(RISK ANALYSIS: Techniques, Risk ratings, Ordinal Probability Scales, Monte Carlo Process, etc.)

STEP 3- (RISK HANDLING)

STEP 4- (RISK MONITORING: Earned Value, Program Metrics, Schedule performan monitoring, Technical Performance Measurement (TPM), lessons Learned, etc.)

Operation Research, Management Studies

  • Category:- Operation Research
  • Reference No.:- M927693

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