What is risk breakdown structure in SAP (SRD-PRO-PMN - PRO-Project Management)?

SAP Term: risk breakdown structure

• Component: SRD-PRO-PMN

• Component Name: PRO-Project Management

• Description: A hierarchical structure that depicts identified risks on a project.

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• Key Concepts: 
  Risk Breakdown Structure (RBS) is a tool used in SAP Project Management to identify, analyze, and manage risks associated with a project. It is a hierarchical structure that breaks down the risks into smaller components, allowing for more detailed analysis and better risk management. 
  
  How to use it: 
  In SAP Project Management, the Risk Breakdown Structure (RBS) is used to identify and analyze risks associated with a project. The RBS is created by breaking down the project into its component parts and then analyzing each part for potential risks. Once the risks have been identified, they can be managed by assigning them to specific individuals or teams for further analysis and mitigation. 
  
  Tips & Tricks: 
  When creating an RBS, it is important to consider all potential risks associated with the project. This includes both internal and external risks, as well as those related to the project’s scope, timeline, budget, and resources. Additionally, it is important to ensure that the RBS is regularly updated as new risks are identified or existing ones are mitigated. 
  
  Related Information: 
  The Risk Breakdown Structure (RBS) is part of the SAP SRD-PRO-PMN PRO-Project Management component. It is used in conjunction with other tools such as Risk Analysis and Risk Mitigation to ensure that all potential risks associated with a project are identified and managed effectively.