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How we evaluate the risk please ? ( with out imact & Probability)

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BASMA ROMDHANI Ryadh, 01, Saudi Arabia
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Kiron Bondale Retired | Mentor| Retired Welland, Ontario, Canada
Basma -

You will need to provide a little more context to your question. When a risk is identified it is common to have a group of cross-functional stakeholders evaluate it qualitatively including estimating it probability and impact. While these might not be accurate estimates, they are helpful in focusing stakeholders' risk management efforts on the known-unknowns which are of greatest concern.

Kiron
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1 reply by Mohammed Wedaa
Aug 02, 2023 9:51 AM
Mohammed Wedaa
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thank you
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Mohammed Wedaa Riyadh, 01, Saudi Arabia
Jul 28, 2023 11:42 AM
Replying to Kiron Bondale
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Basma -

You will need to provide a little more context to your question. When a risk is identified it is common to have a group of cross-functional stakeholders evaluate it qualitatively including estimating it probability and impact. While these might not be accurate estimates, they are helpful in focusing stakeholders' risk management efforts on the known-unknowns which are of greatest concern.

Kiron
thank you
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AIJAZUR RAHMAN QURAISHI MOHAMMED SENIOR ORACLE TECHNICAL LEADER| ASHGHAL - PUBLIC WORKS AUTHORITY Doha, Ra, Qatar
First identify the risks in your project and accept it. Then plan risk mitigation accordingly. We cannot expect to have solution without first accepting the risks. So, Identify it, own it and then evaluate how you can mitigate it or fix it completely.
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1 reply by Keith Novak
Aug 16, 2023 10:05 AM
Keith Novak
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You should acknowledge that risks are real so that you may deal with them, but in risk management terminology, accepting a risk is choosing not to mitigate, transfer, or avoid it. Confusing the two on the PMP exam would get you a wrong answer.

example: If the government changes parties in the next election, the project will be cancelled. There isn't anything practical we can do about it, so we will proceed with the current plan and accept that we may all suddenly need new jobs.
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Keith Novak Tukwila, Wa, United States
Aug 16, 2023 8:52 AM
Replying to AIJAZUR RAHMAN QURAISHI MOHAMMED
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First identify the risks in your project and accept it. Then plan risk mitigation accordingly. We cannot expect to have solution without first accepting the risks. So, Identify it, own it and then evaluate how you can mitigate it or fix it completely.
You should acknowledge that risks are real so that you may deal with them, but in risk management terminology, accepting a risk is choosing not to mitigate, transfer, or avoid it. Confusing the two on the PMP exam would get you a wrong answer.

example: If the government changes parties in the next election, the project will be cancelled. There isn't anything practical we can do about it, so we will proceed with the current plan and accept that we may all suddenly need new jobs.

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