Table 1 Risk Management Processes.

From: Beyond probability-impact matrices in project risk management: A quantitative methodology for risk prioritisation

 

MANAGEMENT

IDENTIFICATION

ASSESSMENT

PLANNING RESPONSE

RESPONSE IMPLEMENT.

MONITORING AND CONTROL

ISO 31000

1. Communication and consultation

2. Scope, context, criteria

3.1. Risk identification

3.2. Risk analysis

3.3. Risk evaluation

4. Risk treatment

5. Monitoring and review

6. Recording and reporting

PMBoK

1. Plan risk management

2. Identify risks

3. Qualitative risk analysis

4. Quantitative risk analysis

5. Plan risk response

6. Implement risk response

7. Monitoring and controlling risks

Prince2

1.1. Identify the context

1.2. Identify risks

2.1. Risk estimation

2.2. Risk assessment

3. Plan response to risks

4. Implement response to risks

5. Communicate

PM2

 

1. Identify risks

2. Risk assessment

3. Develop risk response

4. Risk Control

ICB 4.0

1. Risk management framework

2. Identify opportunities and threats

3. Risk assessment

4. Select risk response

5. Control

  1. Norms, standards and methodologies. Source: Rehacek (2017).
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