Tools and techniques for risk management

last edited by: Juan Gabriel Gantiva Vergara on Dec 23, 2018 9:14 AM login/register to edit this page


The following are the tools that can used in the different risk management processes, taking into account experience and practice:

Plan risk management: Brainstorming Checklists Interviews Stakeholder analysis SWOT Analysis Expert judgment Meetings Information system for project management

Identify risks: Interviews, Analysis of assumptions and restrictions, Analysis of documents, Quality evaluation of the data,Root cause analysis,SWOT Analysis, Expert judgment, Meetings, Information system for project management, Delphi, Primary hazard analysis, Hazard and operability studies (HAZOP), Hazard Analysis and Critical Control Points (HACCP), FMEA - Failure mode effect analysis, FTA - Fault tree analysis, Event tree analysis, Cause and consequence analysis, Cause-and-effect analysis, Layer protection analysis (LOPA), Bow tie analysis, Sneak circuit analysis, Markov analysis

Perform the qualitative risk analysis: Checklists, Quality evaluation of the data, Probability and impact evaluation, Root cause analysis, Matrix probability and impact, Expert judgment, Meetings, Information system for project management, Delphi, FMEA - Failure mode effect analysis, Structure What if?(SWIFT), Layer protection analysis (LOPA), Bow tie analysis

Perform quantitative risk analysis: Checklists, Decisions Tree, Influence diagrams, Quality evaluation of the data, Root cause analysis, Sensitivity analysis, Expert judgment, Meetings, Information system for project management, FTA - Fault tree analysis, Event tree analysis, Monetary expected value,Structure What if? (SWIFT),Scenario analysis, Monte Carlo simulation, Bayesian statistics and Bayes Nets

Plan risk responses: Brainstorming, Checklists, Interviews, Analysis of alternatives,Cost benefit analysis, Quality evaluation of the data, Root cause analysis, Define risk response strategies, Expert judgment, Meetings, Information system for project management, Delphi

Implement risk responses: Checklists, Reserve analysis, Expert judgment, Meetings, Information system for project management

Monitor risks: Reserve analysis, Root cause analysis, Performance analysis, Audits, Reviews, Meetings, Information system for project management


last edited by: Juan Gabriel Gantiva Vergara on Dec 23, 2018 9:14 AM login/register to edit this page


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