May 20th, 2015
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A. T. Still University
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A risk is defined as a possible event or circumstance that can have negative influences on the project in question. Risk can also be defined as the combination of the probability of an event and its consequences.

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Presentation contentWhat is risk?Risk management planningRisk identificationscientificRisk Management PlanningRisk Management Planning is about defining the process of how to engage and oversee riskmanagement activities for a project. Risk Management planning is an important part of projectmanagement.The inputs for Risk Management Planning are:Project Scope Statement It documents the project scope including a description, majordeliverables, project objectives, project assumptions, project constraints, and a statement ofwork. In Risk Management Planning, the project scope statement is commonly used foridentifying project boundaries and assumptions.Project Management Plan The Project Management plan contains the Work BreakdownStructure (WBS) which is used in Risk Management Planning to determine possible areas whererisks can occur.Organizational process assets The organizations process assets may contain definedstandards and policies pertaining to risk management. Process assets included are riskcategories, roles and responsibilities, and processes of how to have a decision made.Enterprise environmental factors Enterprise environmental factors reveal the risk tolerance ofthe organization and the individuals involved in the project. For example, patient billingdepartments or leaders commonly have absolutely no risk tolerance for any impact to cashflow.Understanding how much risk your stakeholders and organi

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