Describe the Four Steps in the Risk Management Process
STEP 1-RISK PLANNING: (Risk Management Plan, etc.)
STEP 2-RISK ASSESSMENT/IDENTIFICATION/ANALYSIS
(RISK IDENTIFICATION: Life-Cycle Cost Analysis, Plan/WBS Plan Decomposition, Schedule Analysis, Lessons Learned Files, Expert Judgement, Baseline Cost Estimates, etc.)
(RISK ANALYSIS: Techniques, Risk ratings, Ordinal Probability Scales, Monte Carlo Process, etc.)
STEP 3- (RISK HANDLING)
STEP 4- (RISK MONITORING: Earned Value, Program Metrics, Schedule performan monitoring, Technical Performance Measurement (TPM), lessons Learned, etc.)