Explanation/Reference:
Explanation:
6.5.2.6 Reserve Analysis
Duration estimates may include contingency reserves, sometimes referred to as time reserves or buffers, into the project schedule to account for schedule uncertainty. Contingency reserves are the estimated duration within the schedule baseline, which is allocated for identified risks that are accepted and for which contingent or mitigation responses are developed. Contingency reserves are associated with the "known- unknowns," which may be estimated to account for this unknown amount of rework.
As more precise information about the project becomes available, the contingency reserve may be used, reduced, or eliminated. Contingency should be clearly identified in schedule documentation.
[..]
Estimates may also be produced for the amount of management reserve of time for the project.
Management reserves are a specified amount of the project duration withheld for management control purposes and are reserved for unforeseen work that is within scope of the project. Management reserves are intended to address the "unknown-unknowns" that can affect a project. Management reserve is not included in the schedule baseline, but it is part of the overall project duration requirements. Depending on contract terms, use of management reserves may require a change to the schedule baseline.

Section: Volume A
Explanation/Reference:
Explanation:
4.1.1.2 Business Case
The business case or similar document describes the necessary information from a business standpoint to determine whether or not the project is worth the required investment. It is commonly used for decision making by managers or executives above the project level. Typically, the business need and the cost-benefit analysis are contained in the business case to justify and establish boundaries for the project, and such analysis is usually completed by a business analyst using various stakeholder inputs. The sponsor should agree to the scope and limitations of the business case. The business case is created as a result of one or more of the following:
Market demand (e.g., a car company authorizing a project to build more fuel-efficient cars in response to

gasoline shortages),
Organizational need (e.g., due to high overhead costs a company may combine staff functions and

streamline processes to reduce costs.),
Customer request (e.g., an electric utility authorizing a project to build a new substation to serve a new

industrial park),
Technological advance (e.g., an airline authorizing a new project to develop electronic tickets instead of

paper tickets based on technological advances),
Legal requirement (e.g., a paint manufacturer authorizing a project to establish guidelines for handling toxic

materials),
Ecological impacts (e.g., a company authorizing a project to lessen its environmental impact), or

Social need (e.g., a nongovernmental organization in a developing country authorizing a project to provide

potable water systems, latrines, and sanitation education to communities suffering from high rates of cholera).
Each of the examples in this list may contain elements of risk that should be addressed. In the case of multiphase projects, the business case may be periodically reviewed to ensure that the project is on track to deliver the business benefits. In the early stages of the project life cycle, periodic review of the business case by the sponsoring organization also helps to confirm that the project is still aligned with the business case. The project manager is responsible for ensuring that the project effectively and efficiently meets the goals of the organization and those requirements of a broad set of stakeholders, as defined in the business case.

Section: Volume A
Explanation:
11.2.2.6 SWOT Analysis
This technique examines the project from each of the strengths, weaknesses, opportunities, and threats (SWOT) perspectives to increase the breadth of identified risks by including internally generated risks. The technique starts with identification of strengths and weaknesses of the organization, focusing on either the project, organization, or the business area in general. SWOT analysis then identifies any opportunities for the project that arise from organizational strengths, and any threats arising from organizational weaknesses. The analysis also examines the degree to which organizational strengths offset threats, as well as identifying opportunities that may serve to overcome weaknesses.
Process: 11.2 Identify Risks
Definition: The process of determining which risks may affect the project and documenting their characteristics.
Key Benefit: The key benefit of this process is the documentation of existing risks and the knowledge and ability it provides to the project team to anticipate events.
Inputs
1. Risk management plan
2. Cost management plan
3. Schedule management plan
4. Quality management plan
5. Human resource management plan
6. Scope baseline
7. Activity cost estimates
8. Activity duration estimates
9. Stakeholder register
10.Project documents
11.Procurement documents
12.Enterprise environmental factors
13.Organizational process assets
Tools & Techniques
1. Documentation reviews
2. Information gathering techniques
3. Checklist analysis
4. Assumptions analysis
5. Diagramming techniques
6. SWOT analysis
7. Expert judgment
Outputs
1. Risk register
11.2.3.1 Risk Register
The primary output from Identify Risks is the initial entry into the risk register. The risk register is a document in which the results of risk analysis and risk response planning are recorded. It contains the outcomes of the other risk management processes as they are conducted, resulting in an increase in the level and type of information contained in the risk register over time. The preparation of the risk register begins in the Identify Risks process with the following information, and then becomes available to other project management and risk management processes:
List of identified risks. The identified risks are described in as much detail as is reasonable. A structure for

describing risks using risk statements may be applied, for example, EVENT may occur causing IMPACT, or If CAUSE exists, EVENT may occur leading to EFFECT. In addition to the list of identified risks, the root causes of those risks may become more evident. These are the fundamental conditions or events that may give rise to one or more identified risks. They should be recorded and used to support future risk identification for this and other projects.
List of potential responses. Potential responses to a risk may sometimes be identified during the Identify

Risks process. These responses, if identified in this process, should be used as inputs to the Plan Risk Responses process.

Section: Volume E
Explanation

Section: Volume E