What is the goal of risk management?
To be prepared with a plan to deal with any risks that may occur
Risk attitude is affected by,
- Risk appetite
- Risk tolerance
- Risk threshold
The level at which a risk is acceptable to the stakeholder is called
Risk Threshold.
__________ is a model used for measuring stakeholder risk preference or risk attitude
Utility function
the 3 categories of utility function are -
- Risk averse
- Risk neutral
- Risk seeking
5 steps of Risk management
- Risk identification
- Risk assessment
- Risk prioritization
- Risk mitigation
- Risk communication
When is risk identification done?
Throughout the project
_______ is a risk identification technique that groups risks based on categories
Risk breakdown Structure(RBS)
_________ is a risk identification technique that involves prototyping o research typically done before the develop epics process.
Risk- based spike
What are some techniques to assess risk?
- EMV
- Probability trees
- Pareto Analysis
- Probability impact grid
- EMV
Who is responsible for keeping a close eye on potential risks ?
The Scrum master
What is the tool used to communicate the impact and response to risks?
Risk Burndown chart.
_________ is used to create a Risk burndown Chart
EMV