Professional Documents
Culture Documents
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Aim
Understand Processes in risk management How to plan risk management How to identify risk and plan response to the identified risk How to analyze risk for qualitatively and quantitatively Decision tree analysis and risks associated with various contracts
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
There is 25% chance that a person may develop cancer. It is an uncertain event and a risk. If a person develops cancer, it is no longer a risk, but a health issue. Now the uncertainty became certain. Uncertainty of risk assessment may change over time when more and more details are available.
If the person get infected by HIV, risk of him dying from cancer becomes lower and risk of dying from AIDS become higher.
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Inputs
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Outputs
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Enterprise environmental factors Organizational process assets Project scope statement Cost management plan Schedule Management Plan Communications Management Plan
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
RBS
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Enterprise environmental factors Organizational process assets Risk management plan Activity Cost Estimates Activity Duration Estimates Scope baseline Stakeholder register Cost management Plan Schedule management plan Quality management plan Project documents
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Documentation reviews Information gathering techniques Checklist analysis Assumptions analysis Diagramming techniques SWOT analysis Expert Judgement
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Risk register
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
11. Organizational Process Assets : Project files ,organizational and project process controls, Risk statement templates, and lessons learned .
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
3. Checklists Analysis :
1. Risk checklists can be developed based on historical information and knowledge that has been accumulated from previous similar projects and from other sources of information . 2. The lowest level of RBS can also be used as a checklist
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
4. Assumptions Analysis
Assumption analysis is the process of examining the assumptions to see what risk may stem from false assumptions. Examining assumptions is about finding the validity of the assumptions.
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
5. Diagramming Techniques
There are several diagramming techniques that can be utilized by the project team to identify risks:
Cause and Effect or Ishikawa or Fishbone diagram Flow charts Influence diagrams
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
5. Diagramming Techniques
Cause and Effect or Ishikawa or Fishbone diagram
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
5. Diagramming Techniques
Flow charts
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
5. Diagramming Techniques
Influence diagrams
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
6. Analyzing SWOT
SWOT means strengths, weaknesses, opportunities, and threats. SWOT analysis for introduction of new technology Strengths : the technology to be installed in the project has been installed by other large companies in our industries Weaknesses: we have never installed this technology before and no experienced personnel. Opportunities: the new technology will result in major time saving Threats: the time to complete the training and finding faults in the processes during implementation.
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Outputs
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Organizational process assets Project scope statement Risk management plan Risk register
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Risk probability and impact assessment Probability and impact matrix Risk data quality assessment Risk categorization Risk urgency assessment Expert Judgement
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Risk Categorizations
Identified risks can be categorized in many ways Categorization using RBS Risks are categorized according to source of risks as identified in RBS Categorization Using WBS If risks are categorized according to WBS, it will show which part of project will be most affected by a particular risk if it happens. Using Project Phase This will show which project phase will be mostly affected if risk turns to an issue.
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Outputs
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Organizational process assets Risk management plan Risk register Project management plan . Project schedule management plan . Project cost management plan
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Data gathering and representation techniques Quantitative risk analysis and modelling techniques Expert Judgement
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Sensitivity Analysis
Sensitivity analysis is a method of analyzing the potential impact of risk events on the project and determining which risk has the greatest potential for impact. All other risks are kept at the baseline while analyzing one risk One of the ways sensitivity analysis data is displayed is a tornado diagram.
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Risk register is further updated to include Probabilistic analysis of the project Probability of achieving cost and time objectives Prioritized list of quantified risks Trend in Quantitative risk analysis results
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Outputs
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Strategies for negative risk or threats Strategies for positive risk or threats Strategies for both threats and opportunities Contingent response strategy
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Risk register (updates) Project management plan (updates) Risk-related contractual agreements Project Document Updates
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
The cost and time to reduce or eliminate the risks is more cost effective than repairing the damage caused by the risk. The risk event may still happen, but hopefully the cost and impact of the risk will both be very low.
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
Outputs
Risk register (updates) Change Requests Organizational process assets (updates) Project management plan (updates) Project Document Updates
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Madras Management Training W.L.L Email: info@mmt-institute.com www.mmt-institute.com 2008 All Rights Reserved
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