<?xml version="1.0" encoding="UTF-8"?>
<org.eclipse.epf.uma:ArtifactDescription xmi:version="2.0" xmlns:xmi="http://www.omg.org/XMI" xmlns:org.eclipse.epf.uma="http://www.eclipse.org/epf/uma/1.0.6/uma.ecore" xmlns:epf="http://www.eclipse.org/epf" epf:version="1.5.1" xmi:id="-fOwPIzOaHJTlgbVnvIwmYg" name="new_artifact,_Bvm5ELniEe2ItPaV9bHRfA" guid="-fOwPIzOaHJTlgbVnvIwmYg" changeDate="2023-03-06T08:29:36.691+0330">
  <mainDescription>&lt;p>&#xD;
    The step that comes after identification of risk in project risk management is risk assessment. In this process of risk&#xD;
    assessment, acknowledging the broad risk categories can be helpful. A broad categorization can be business risk,&#xD;
    technological risks and logistical risk. One of such popular categorization is called PESTLE.&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    P: Political Risks – Arise of Political influences that govern a project&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    E: Environmental Risks&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    S: Social Risks&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    T: Risks rising our of Technology&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    L: Risks arising of Legal standpoint&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    E: Economic Risks&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    Here are some effective risk assessment techniques used by agile practitioners in the process of agile project&#xD;
    management.&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    &amp;nbsp;1) Risk Census: A risk census is a simple framework for analyzing the risk exposure of a project. For each risk,&#xD;
    a probability and the impact out of the risk factors is determined. The impact can be either in terms of time or cost&#xD;
    or both. Here the delay in the project process time due to risk is counted in terms of day. The risk exposure is then&#xD;
    calculated by multiplying the probability and the impact and the overall risk is then tracked to assess the “risk” of a&#xD;
    project.&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    &amp;nbsp;2) Risk Board: Risk board is an information radiator that is used to make the risks on a project transparent to&#xD;
    the team and the stakeholders. By using risk board, the identified risks are displayed along with the probabilities and&#xD;
    impacts. This board should be reviewed by the agile team members and project manager on stand-up meetings on daily&#xD;
    basis.&#xD;
&lt;/p>&#xD;
&lt;p>&#xD;
    3) Risk Burn down Chart: Risk burn down chart is a simple graphical indicator of the trends present in the risks of the&#xD;
    project. This chart displays the exposure of the risk and its impact and response. Along with time progress the status&#xD;
    of the risk factors is updated thus letting the agile team members know how much is achieved and how much is yet to&#xD;
    achieve in controlling risks.&#xD;
&lt;/p></mainDescription>
  <purpose>Risk Assessment and mitigate Risk</purpose>
</org.eclipse.epf.uma:ArtifactDescription>
