Name: Risk management in project management
Uploaded: 2022-10-21
Duration: 3 min 38 s
Description: Risk management in project management. Person writing on a notepad.

Risk management in project management. Person writing on a notepad. 

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Objectives. To equip associates at Straive with project management skills.. 

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To equip associates at Straive with project management skills.

Understand Risk management process and apply in day-to-day activities

What is Risk Management in Publishing and information / data industry?. 

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What is Risk Management in Publishing and information / data industry?

Risk management is the process of identifying, evaluating, and prioritizing risks followed by integrated and economical application of resources to reduce, observe, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

risk management helps publishing industries from. 

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risk management helps publishing industries from

Risk Management process. Badge 1 with solid fill. 

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Quantitative Monte Carlo  Others    Quantitative Risk Register  Risk Matrix

Mitigation Transfer  Mitigate  Accept  Avoid Contingency

Examples for Mitigation. Share with solid fill. Mitigation Transfer. 

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A retail brand may not be fully equipped to manage all cybersecurity risks to the company, but the threat still exists. To manage it more efficiently, they can outsource all their IT capabilities to a third party, holding them accountable, and thereby transferring their risk.

One of the many ways to combat this risk is to have controls in place for all incoming communications such as emails. They need to be scanned to make sure no suspicious ones are coming to the company, and even if they are, they are taken care of immediately.

investor trying to manage his/her risk in the company that they invested in. If the company they have invested in is going through losses and decide to sell their investment (stock) in the company, they can exclude it from their list of investments, it is considered risk avoidance.

Companies need to ensure they have controls in place to monitor their organizations’ compliance on a regular basis. They need to monitor all their existing processes, procedures, and technologies and stay compliant. This can be effectively done with a risk management system.

All safety maintenance processes need to be audited regularly to check for latent human error in the processes. This can also be handled very efficiently if companies implement a risk management system.

Types of risk management. Warning. Business Risk. 

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Risk management Tool. risk assessment matrix example. 

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CASE STUDY. Case Illustration: Midwestern Utilities, Inc.. 

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Case   Illustration:   Midwestern   Utilities,   Inc.

practices to avoid or Minimize risks in publishing industry SE STUDY. 

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practices to avoid or Minimize risks in publishing industry SE STUDY

Use iterative, phased approaches to minimizing risk

Risk management in project management

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