Unit Identifier: OO3003

Unit Overview:

This unit looks at risk as a manageable entity and presents techniques for identifying, measuring, and formulating plans to mitigate risk. It prepares the student to operate the four major sub-processes of risk assessment and management: risk identification, risk quantification, response development, and risk control. The process is presented in the context of the software development project and prepares the project manager and his/her team to deal with project risk in a highly visible, proactive manner. The tools and techniques presented will help the team make risk mitigation part of their everyday project activities.

Unit Duration: 8 hours

Unit Objectives:

This unit should be completed in the very early stages of the project lifecycle. The project manager will need to identify risk factors and build risk management plans into the project plan as it is formulated.

• Understand the four major risk management sub-processes: risk identification, risk quantification, response development, and risk control
• Know the inputs, process, tools and techniques, and outputs associated with each of the four risk management sub-processes
• Understand the purpose of risk management
• Identify the risk events that are likely to impact a specific project
• Determine which project risks require a response on the part of the project team
• Develop appropriate risk management plan
• Execute the risk management plan through each phase of the project

Unit Outline: