{"id":1000,"date":"2022-07-28T18:49:00","date_gmt":"2022-07-28T18:49:00","guid":{"rendered":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/?post_type=chapter&#038;p=1000"},"modified":"2022-07-28T18:49:00","modified_gmt":"2022-07-28T18:49:00","slug":"10-6-key-takeaways","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/chapter\/10-6-key-takeaways\/","title":{"rendered":"10.6 Key Takeaways"},"content":{"raw":"<div class=\"textbox textbox--key-takeaways\"><header class=\"textbox__header\">\r\n<p class=\"textbox__title\">Key Takeaways<\/p>\r\n\r\n<\/header>\r\n<div class=\"textbox__content\">\r\n<ul>\r\n \t<li>Project risk is an uncertain event or condition that, if occurs, has a positive or negative effect on one or more project objectives.<\/li>\r\n \t<li>Contingency reserve is allocated for known-unknowns whereas management reserve is allocated for unknown-unknowns.<\/li>\r\n \t<li>The risk management plan is a component of the project management plan that describes how risk management activities will be structured and performed.<\/li>\r\n \t<li>When risks are identified, they are recorded in a risk register. It is a key tool that helps project teams keep track of the status of risks, ensure response plans are effectively implemented, and new risks are managed.<\/li>\r\n \t<li>Project teams perform qualitative risk analysis in order to prioritize individual project risks by assessing their probability of occurrence and impact.<\/li>\r\n \t<li>The strategies to respond negative risks are escalation, avoidance, transfer, mitigation, and acceptance.<\/li>\r\n \t<li>The strategies to respond positive risks are escalation, exploitation, sharing, enhancing, and acceptance.<\/li>\r\n \t<li>The project team develops contingency plans as an alternative method for accomplishing a project goal when a risk event has been identified.<\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>\r\n&nbsp;","rendered":"<div class=\"textbox textbox--key-takeaways\">\n<header class=\"textbox__header\">\n<p class=\"textbox__title\">Key Takeaways<\/p>\n<\/header>\n<div class=\"textbox__content\">\n<ul>\n<li>Project risk is an uncertain event or condition that, if occurs, has a positive or negative effect on one or more project objectives.<\/li>\n<li>Contingency reserve is allocated for known-unknowns whereas management reserve is allocated for unknown-unknowns.<\/li>\n<li>The risk management plan is a component of the project management plan that describes how risk management activities will be structured and performed.<\/li>\n<li>When risks are identified, they are recorded in a risk register. It is a key tool that helps project teams keep track of the status of risks, ensure response plans are effectively implemented, and new risks are managed.<\/li>\n<li>Project teams perform qualitative risk analysis in order to prioritize individual project risks by assessing their probability of occurrence and impact.<\/li>\n<li>The strategies to respond negative risks are escalation, avoidance, transfer, mitigation, and acceptance.<\/li>\n<li>The strategies to respond positive risks are escalation, exploitation, sharing, enhancing, and acceptance.<\/li>\n<li>The project team develops contingency plans as an alternative method for accomplishing a project goal when a risk event has been identified.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"author":3,"menu_order":7,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-1000","chapter","type-chapter","status-publish","hentry"],"part":982,"_links":{"self":[{"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/pressbooks\/v2\/chapters\/1000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/wp\/v2\/users\/3"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/pressbooks\/v2\/chapters\/1000\/revisions"}],"predecessor-version":[{"id":1001,"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/pressbooks\/v2\/chapters\/1000\/revisions\/1001"}],"part":[{"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/pressbooks\/v2\/parts\/982"}],"metadata":[{"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/pressbooks\/v2\/chapters\/1000\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/wp\/v2\/media?parent=1000"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/pressbooks\/v2\/chapter-type?post=1000"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/wp\/v2\/contributor?post=1000"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ulib.csuohio.edu\/project-management-navigating-the-complexity\/wp-json\/wp\/v2\/license?post=1000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}