PMI A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
Copyright 2000 Edition:
5.5.1.3 Most change requests are the result of implementing a contingency plan or workaround plan to respond to a risk, as described in Section 11.6.3.3
11.6.3 Outputs from Risk Monitoring and Control
11.6.3.3 Project change requests. Implementing contingency plans or workarounds frequently results in a requirement to change the project plan to respond to risks. The result is issuance of a change request that is managed by integrated change control, as described in Section 4.3.
7.4.3 Outputs from Cost Control
7.4.3.4 Estimate at Completion. An Estimate at Completion is a forecast of most likely total project costs based on project performance and risk quantification
Copyright 2008 Edition:
11.5.3 Plan Risk Responses: Outputs
11.5.3.3 Project Management Plan Updates
- Schedule management plan: updated to reflect changes in process and practice driven by the risk responses…include…updates to the schedule itself
- Cost management plan: updated to reflect changes in process and practice driven by the risk responses…include…updates to the budget and consumption of contingency reserves
- Cost performance baseline: Because of new work (or omitted work) generated by the risk responses, the cost performance baseline may be updated to reflect those changes.
11.4.3 Perform Quantitative Risk Analysis: Outputs
· Probabilistic analysis of the project. Estimates of potential project schedule and cost outcomes…to permit quantification of the cost and time contingency reserves.
Performance-Based Earned Value®, Copyright 2007
Guideline 3.1 Identify changes that need to be made to the project plans, work packages, planning packages, and work products resulting from responses to risks
Guideline 3.2 Develop revised estimates of costs at completion based on risk quantification
ANSI/EIA-748, EVMS Standard, 2008
32 Guidelines: The 32 Guidelines are silent on "risk" but "risk" is discussed in Section 3, below.
PBEV note for U.S. DoD contracts: DCMA surveillance policy states that "surveillance of the EVMS is mandatory for all contracts that require supplier EVMS compliance with the 32 ANSI/EIA-748 EVMS guidelines." Consequently, because "risk" is not included in the Guidelines, a contractor may be EVMS-compliant even though it does not integrate RM with EVM.
For DoD guidance on integrating risk management with EVM, see the bottom two tables at DOD Guide Tables . This guidance is not required by contractors.
Discussed in Section 3, EVMS Process Discussion:
3.4 Integrated schedule and budget plans should take into account risk and opportunity handling plans
3.5.4 Management Reserve is held for…risk handling…
3.9.2 The Estimate at Completion should be the most likely estimate of the total costs for all authorized program effort, taking into account remaining program risk and opportunities.