Chapter 11 of the PMBOK®Guide –Fourth Edition, is the basis for the Practice Standard for Project Risk Management. This practice standard is consistent with that chapter, emphasizing the concepts and principles relating to Project Risk Management. It is aligned with other PMI practice standards.
The Risk Management Process
Section 6.0: The Risk Informed Decision-Making Process summarizes a process of identifying and implementing the most cost-effective countermeasure appropriate for mitigating vulnerability, thereby reducing the risk to an acceptable level. The Risk Management Process:v. An Interagency Security Co mmittee Standard.
ISO 31000
ISO 31000 provides direction on how companies can integrate risk-based decision making into an organization’s governance, planning, management, reporting, policies, values and culture. It is an open, principles-based system, meaning it enables organizations to apply the principles in the standard to the organizational context.
COMMENTS
Chapter 11 of the PMBOK®Guide –Fourth Edition, is the basis for the Practice Standard for Project Risk Management. This practice standard is consistent with that chapter, emphasizing the concepts and principles relating to Project Risk Management. It is aligned with other PMI practice standards.
Section 6.0: The Risk Informed Decision-Making Process summarizes a process of identifying and implementing the most cost-effective countermeasure appropriate for mitigating vulnerability, thereby reducing the risk to an acceptable level. The Risk Management Process:v. An Interagency Security Co mmittee Standard.
ISO 31000 provides direction on how companies can integrate risk-based decision making into an organization’s governance, planning, management, reporting, policies, values and culture. It is an open, principles-based system, meaning it enables organizations to apply the principles in the standard to the organizational context.