Question

Kindly give me answer related to PMBOK Process 11.4... Thanks. ASAP

1. please contact me before placing order Based on Risk Practice Standard Chapter 4, PMBOK Process 11.4, and your personal Knowledge Management artifacts, evaluate your organization's risk management plan. Provide a 200-word constructive critique. Based on Risk Practice Standard Appendix D.4, Tools and Techniques listed in PMBOK Process 11.4. and your personal Knowledge Management artifacts, evaluate your organization's risk management plan. Provide a 200-word recommendation to improve its effectiveness.

Answer 1

Answer:

My organization take the five-step program to manage and plan the risk management.

Step 1: Identification of the risk; A risk assurance team conducts the audit to identify all the possible risks.

Step 2: Evaluation of risk: Once the risks are identified, the team does a careful evaluation of all the identified and risk and its related impact and severity

Step 3. Prioritization of risk: After the evaluation, all the identified risk are prioritized based on their relative importance, impact, and severity

Step 4. Monitoring of the risk: all the identified risks are monitored and assessed to report any possibility of risk event taking place.

Step 5: Management and control of the risk: If the incident happens then the set of pre-defined activities takes place to mitigate the impact of the risk and control it within acceptable time and impact.