Unified Methodology to Risk Management in Projects

Project Project Management, Risk Management, PMBOK, Qualitative and Quantitative Analyses

In the submission is described the whole process of risk management that is possible to divide into six sub-processes (phases). In concrete, Risk management Planning, Risk Identification, Qualitative Risk Analysis, Quantitative Risk Analysis, Risk Response Planning, and Risk Monitoring and Control. In every of those phases we can use variety of methods, methodologies, techniques and tools. It depends on the concrete situation and general conditions in organizations. We distinguish both general methods (e.g. SWOT Analysis, Ishikawa Diagram), and more sophisticated methods (e.g. FMEA/FTA, HAZOP, SPC etc.) applied in a project. The paper demonstrates, by intuitive way, a complex procedure of risk management processes application. The main aim is to prevent risks and/or reduce their consequences in a project.

The paper introduces a new integrated approach to risk management in different types of projects. It presents how we can proceed in all processes of risk management in context of international project management standard called PMBOK. The main advantage of this standard is the detailed description of all processes and relating things of project management domain.