ABSTRACT
This chapter considers various Project Management (PM) Methodologies or PM Competence Guidelines feature some differences and suggest additional/useful roles. The aim of risk management is to keep under control the intrinsic project uncertainty, working both to decrease the impact of threats and to develop opportunities. Evaluate/quantify risk rank and quantify the probability of risk occurrence and its impact level. In order to gain the probability and impact evaluation, various techniques/tools can be applied, depending on project confidence and the type of risk. Requirements Management approach also creates a check-reference tool, which will be further detailed/updated under management control throughout the PLC, until final test of project product and feedback on operations. The optimal/accepted configuration of these elements, which becomes the project business justification, also represents the reference framework for ongoing project evaluation throughout the whole Product Life Cycle (PLC).
