Project risk Management Processes Qualitative risk analysis: characterizing and analyzing risks and prioritizing their effects on project objectives Quantitative risk analysis: measuring the probability and consequences of risks Risk response planning: taking steps to enhance opportunities and reduce threats to meeting project objectives Risk monitoring and control: monitoring known risks, identifying new risks, reducing risks, and evaluating the effectiveness of risk reduction 2021/2/21 AP2021/2/21 12 Project Risk Management Processes ◼ Qualitative risk analysis: characterizing and analyzing risks and prioritizing their effects on project objectives ◼ Quantitative risk analysis: measuring the probability and consequences of risks ◼ Risk response planning: taking steps to enhance opportunities and reduce threats to meeting project objectives ◼ Risk monitoring and control: monitoring known risks, identifying new risks, reducing risks, and evaluating the effectiveness of risk reduction