What are the tools for Risk Management in Project Management?

Risk Register

Risk Identification

Quantitative Risk Analysis

Qualitative Risk Analysis

Risk Monitor and Control

 

As per PMP there are following process in Risk Management Knowledge area

 

1. Risk Planning

2. Risk Identification

3. Qualitative Analysis

4. Quantitative Analysis

5. Risk Response

6. Control RiskBut there are several tools uses within these process. 

 

1. The first one and the most important one is Risk Register

2. Although not necessary but very useful to have Stakeholder register to communicate stakeholder in case of any risk event

3. Cause and Effect diagram (also known as fish bone diagram)4. Flow charts

5. Process diagram

6. Influence diagram

7.  Probability and Impact Matrix

8. Tornado diagram (for sensitivity analysis)

9. Decision tree diagram

 

All of these are as per PMBOK. 

Thanks

 

 

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