RISK MANAGEMENT 101: An Introduction to Project Risk Management

The video provides an introduction to risk management in project management, explaining the concept of risk as uncertainty affecting outcomes. It outlines the risk management process, including identifying, analyzing, planning, and acting on risks. The video discusses strategies for managing risks, such as eliminating, reducing, transferring, or accepting them. It also highlights key tools like the risk management plan and risk register, emphasizing their importance in responsible project management.

What is the definition of risk in the context of project management?

How do we typically categorize risks in terms of their outcomes?

What are the four basic steps in the risk management process?

What are the two main elements we focus on when analyzing risks?

What is the significance of scoring the likelihood and impact of a risk?

What are the six core strategies for managing risks?

What does it mean to accept a risk in project management?

How does the PMI define a risk management plan?

What is the purpose of a risk register in risk management?

Why is it important for project managers to understand risk management?