Risk Management Knowledge Area Processes Flow.

Project Risk Management Knowledge area contains 6 processes. Find the processes flow diagram for all these processes together. Identify Risks process has large
number of inputs (13 to be precise) as in many processes risks are identified.
In case you need the a single PDF with all the 10 Knowledge Area Processes flow.

Risk Management is a very important topic for the PMP Exam. Risk Management has six processes five in planning and one in monitoring
and controlling. See how these six processes work together.
The following table provides the purpose and key benefit for each of these processes, provided by the PMBOK(R).
Plan Risk Management

Identify Risks

Knowledge Area
Risk
Process Group
Planning
Purpose The process of defining how to conduct risk management activities for a project.
It ensures that the degree, type and visibility of risk management are commensurate with both the risk and
Key Benefit
importance of the project to the organization.
Knowledge Area
Risk
Process Group
Planning
Purpose The process of determining which risks may affect the project and documenting their characteristics
Key Benefit Documentation of existing risks and the knowledge and ability it provides to the project team to anticipate events.

Perform Qualitative Risk Analysis

Knowledge Area
Risk
Process Group
Planning
The process of prioritizing risks for further analysis or action by assessing and combining their probability of
Purpose
occurrence and impact
Key Benefit It enables Project Managers to reduce the level of uncertainty and to focus on high-priority risks.
Perform Quantitative Risk Analysis Knowledge Area
Risk
Process Group
Planning
Purpose The process of numerically analysing the effect of identified risks on overall project objectives.
Key Benefit It produces quantitative risk information to support decision making in order to reduce project uncertainty
Plan Risk Responses
Knowledge Area
Risk
Process Group
Planning
The process of developing options and actions to enhance opportunities and to reduce threats to project
Purpose
objectives.
It addresses the risks by their priority, inserting resources and activities into the budget, schedule andproject
Key Benefit
management plan as needed.
Control Risks
Knowledge Area
Risk
Process Group
Monitoring and Controlling
The process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying
Purpose
new risks, and evaluating risk processeffectiveness throughout the project.
It improves the efficiency of risk approach throughout the project life cycle to continuously optimize risk
Key Benefit
responses.