Risk Management Processes According to the PMBOK
By Abhilash Gopi
Risk Management is the process used to identify, analyze, and respond to a risk by identifying, analyzing, and prioritizing risks, It requires knowledge of business functions and user involvement.
The Project Management Institute’s PMBOK defines the following 4 processes to address risk management issues:
- Risk Identification
- Risk Quantification
- Risk Response Development
- Risk Response Control
About Abhilash Gopi In his own words
I got smitten by the Project Management bug when I was working under K.U. Harsha, my first Project Manager and have been lucky since then to work under democratic managers (Purushottam Sitla, Rekha Varma). I could learn on-job from these wonderful managers and has been equally successful in applying these principles.
I am currently working as a Senior Test Manager with Cordiant Technologies, Kochi, India. Cordiant (www.cordiant.com) is an Offshore Product Development Services provider for ISVs and Web Startups and its innovation is spearheaded by our President & CEO, Dennis Paul.