Chapter 7

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What is the goal of risk management?

To be prepared with a plan to deal with any risks that may occur

Risk attitude is affected by,

- Risk appetite
- Risk tolerance
- Risk threshold

The level at which a risk is acceptable to the stakeholder is called

Risk Threshold.

__________ is a model used for measuring stakeholder risk preference or risk attitude

Utility function

the 3 categories of utility function are -

- Risk averse
- Risk neutral
- Risk seeking

5 steps of Risk management

- Risk identification
- Risk assessment
- Risk prioritization
- Risk mitigation
- Risk communication

When is risk identification done?

Throughout the project

_______ is a risk identification technique that groups risks based on categories

Risk breakdown Structure(RBS)

_________ is a risk identification technique that involves prototyping o research typically done before the develop epics process.

Risk- based spike

What are some techniques to assess risk?

- EMV
- Probability trees
- Pareto Analysis
- Probability impact grid
- EMV

Who is responsible for keeping a close eye on potential risks ?

The Scrum master

What is the tool used to communicate the impact and response to risks?

Risk Burndown chart.

_________ is used to create a Risk burndown Chart

EMV