Project Risk Management

Top Pmp interview questions

PMP®Exam interview Questions

Domain Based What is a baseline, how is it use while creating project management plan? What are organizational influences? Explain with examples What is a project charter? Is project manager involved in the creation of a project charter? What is a project, how is it different from a program, and a portfolio? How many knowledge Areas are there in Project Management. Do you use all in your projects? What are project management methodologies? Which one did you used in your…

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Contingency & Management Reserve

Contingency and Management Reserve

Let’s begin with defining the Reserves: Reserves are the amount of funds, time, or resources that are estimated from the risk management processes. As per the PMBOK® Guide  Reserve is a provision in the project management plan to mitigate the cost and/or plan risk. Frequently used with a modifier (e.g. Management reserve contingency reserve) to give further detail on what kinds of risks are meant to be mitigated. As a further explanation, in a project, all the work performed as per…

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How To Handle Negative Risks-Learn Negative Risk Response Strategies

What is the risk? Most of us understand risk as an uncertain event that can impact us negatively; however, as per PMBOK® Guide Risk exists at two levels within every project; Individual project risk and overall project risk. An individual project risk is an unknown event or situation that, if it occurs, has a positive or negative impact on one or more project goals. Overall project risk is the impact of uncertainty on the project as a whole, resulting from…

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