Question

tools and techniques for sisk management

Answer 1

Tools and techniques for Risk management processes are as stated below:

Risk Management processes	Tools and techniques
Plan Risk Management	Stakeholder Analysis Organizational Meetings Expert Judgment
Identify Risks	Data Gathering techniques using Interviews, checklists and Brainstorming Facilitation skills Organizational Meetings Expert Judgment Data analysis techniques using SWOT Analysis, assumption and constraints analysis, Root cause analysis and Document Analysis. Prompt lists
Perform qualitative risk analysis	Data Gathering techniques using Interviews Facilitation skills Data analysis techniques using Risk probability and impact evaluation, Risk data quality evaluation and evaluation of other risk parameters. Organizational Meetings Risk Categorization Data presentation using hierarchical charts and probability and impact matrix Expert Judgment
Perform quantitative risk analysis	Data Gathering techniques using Interviews Facilitation skills Expert Judgment Data analysis techniques using decision tree analysis, sensitivity analysis, simulations and Influence diagrams. Representation of uncertainties.
Plan risk responses	Data Gathering techniques using Interviews Facilitation skills Expert Judgment Strategies for opportunities and threats Contingent response strategies Alternative analysis and benefits cost analysis Multi criteria decision analysis Strategies for overall project risks
Implement risk responses	Expert Judgment Project management information system Influencing skills
Monitor risks	Organizational Meetings Audits Reserve analysis and organizational team performance analysis.