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Integration Of Prince2® And M O R® 1 John Fisher
 

Integration Of Prince2® And M O R® 1 John Fisher

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If this presentation is of interest visit http://www.bpugcongress.com to find out when the next event is taking place. ...

If this presentation is of interest visit http://www.bpugcongress.com to find out when the next event is taking place.

Presentation by: John Fisher - Director, UnconfuseU Ltd & Chief Examiner, M_o_R®

Many people recognise PRINCE2® and M_o_R as sister products, coming from the same OGC /APM Group stable. This view however misses an important concept that this are not sister products but a marriage between two methodologies.

Very little has been published on how these two different methodologies integrate. This presentation takes the very simple concept of a single project run under the PRINCE2 methodology and shows how M_o_R can be integrated to produce an all encompassing approach that manages risk in an effective and efficient way.

The presentation discusses the current (2005) version of PRINCE2 and maps it across to M_o_R demonstrating several useful approaches that Project and Risk Managers can take.

Using examples throughout, the audience will gain practical understanding of the power and ease as to how to join these two methods on their projects.

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    Integration Of Prince2® And M O R® 1 John Fisher Integration Of Prince2® And M O R® 1 John Fisher Presentation Transcript

    • The PRINCE2 Cityscape logo™ is a Trade Mark of the Office of Government Commerce in the United Kingdom and other countries MSP™ is a Trade Mark of the Office of Government Commerce M_o_R® is a Registered Trade Mark of the Office of Government Commerce in the United Kingdom and other countries The Swirl logo™ is a Trade Mark of the Office of Government Commerce BPUG 2009 Integration of PRINCE2™and MoR®
    • 10 things from MoR® that can help your PRINCE2™ Project today
    • The problems • MoR® is seen as completing the set of three • PRINCE2™ light on risk management • PRINCE2™ projects still failing to manage risk
    • Evidence • Delivering training in both PRINCE2™ and MoR® • Marking MoR® Practitioner Papers • Reviewing many projects over many years • Role as Risk Manager • NAO Reports
    • Solution? • PRINCE2™ 2009 • Until then: – Many concepts in MoR® that can be applied to PRINCE2™ projects – Simple, low cost but very effective
    • 1. Identifying the Context
    • Multiple use of Context in PRINCE2™ SU4 Preparing a Project brief SB4 Updating The Risk Log CS1 – MP1 Agreeing a Work Package
    • Context Techniques RACI SWOT PESTLE PROCESS MAPS
    • 2. Risk Descriptions
    • Poor Risk Description
    • Preferred Approach • Risks should be described in a clear and unambiguous way • The preferred approach is: – Risk Cause (source of risk) – Risk Event (threat or opportunity) – Risk Effect (impact should it arise)
    • Question • Is the following a well defined risk? – Because of poor security vetting procedures – There is a risk that an inappropriate person is employed – Which might mean that company secrets are leaked to the press So what?
    • Why is this Important? • Description linked to mitigation actions • Options include: – Remove the cause – Reduce (threat) or maximise (opportunity) the likelihood of the event – Reduce the effect (impact)
    • 3. Estimating for risk
    • Probability and Impact • Projects don’t always define the estimation scoring • Qualitative assessment means different view points and therefore different scores • What do you really mean when you say a risk has a “medium probability”?
    • Measuring Probability Probability Criteria Very High > 75% High More likely to occur than not: 51%- 75% Medium Fairly likely to occur: 26 – 50% Low Low but not impossible: 6 – 25% Very Low Virtually impossible: 0 – 5% ©Crown Copyright 2005 Reproduced under licence from OGC
    • Different Impacts • Some risks will have an impact on one or more of: – Cost – Time – Resources – Quality – Scope – Benefits – Security • Need to consider multiple impacts.
    • 4. Appetite and Tolerance
    • Appetite and Tolerance – The Difference • Risk Appetite: – Attitude towards risk taking – Willingness to tolerate a situation – What is and what is not acceptable • Tolerance – Levels of exposure which when exceeded trigger a response – How bad does it have to be before I escalate?
    • Appetite and Tolerance Summary Corporate or Programme Appetite – 20 days delay Management Project Board Tolerance – 15 days delay Project Manager Tolerance – 10 days delay
    • 5. Aggregated Risk
    • What is Aggregation? • Aggregation is the net effect of the threat and opportunity assessments when combined together • In other words “what if several risks materialise at the same time”? • PRINCE2™ doesn’t consider this eventuality
    • Example • The project has identified 3 risks causing delay to the project: – Risk 3 – an additional 5 days for user training – Risk 7 – extra 4 day delay to training due to staff sickness – Risk 12 – delay of 10 days due to staff unavailability for training because of operational needs • If Project Board Risk Tolerance is 15 days, aggregated risk exceeds this.
    • 6. Risk Owners
    • Different Definitions • PRINCE2™: – Risk owner should be the best person to keep an eye on the risk • MoR®: – named individual who is responsible for the management and control of all aspects of the risks assigned to them, including the implementation of the selected actions to address the threats or to maximise the opportunities.
    • 7. Mitigation Actions
    • Choosing What to do • Prevent – Remove the cause • Reduce – Carry out an action to reduce the probability and or impact of the risk • Accept – The risk is below the agreed risk appetite for the risk • Contingency – Carry out an action to reduce the impact of the risk when it occurs
    • Transference • You can only transfer the financial aspects of a risk • Giving the risk to someone else isn’t necessarily transferring the risk • Common transference actions include penalty clauses and insurance
    • Mitigation Actions and Appetite Inherent Risk Residual Risk Risk Appetite Where Start Point Where we are we want to be
    • Mitigation Actions and Appetite Inherent Risk Risk Appetite Residual Risk Where Start Point we want Where we are to be
    • Mitigation Actions and Appetite Inherent Risk Risk Appetite Residual Risk Where we are Start Point is where we want to be
    • 8. Reporting Risk
    • No Risk Reporting in PRINCE2™? • PRINCE2™ reports don’t have risk in their Annex A Product Descriptions • Risk reporting can be integrated into Checkpoint or Highlight Reports • Standard measures include: – Summary Risk Profiles – Dashboard metrics
    • Possible Reporting Mechanisms • Dashboard Metrics: – New risks this period – Closed risks this period – BRAG Totals: • Black 2 • Red 8 • Amber 15 • Green 1 – Trend Summary (number rising, falling or neutral)
    • 9. Learn the Lessons
    • Experience is the Best Teacher • What do you do: – When a risk materialises that you didn’t identify? – A mitigation didn’t work? – Risk owners don’t own the risk?
    • Lessons Learned Log • Make sure you review what happened and document it • Make changes to your risk management processes if they aren’t working • Carry out regular risk Healthchecks • Formal update in SB5 Reporting Stage End – but don’t wait that long if its urgent!
    • 10. Manage Risk
    • The Missing Piece • Many projects: – Have a Risk Log – Populate the Risk Log with output from risk workshops – Define good risks and mitigation actions – Totally ignore risks until the next Project Board meeting
    • Missed Opportunities to Review Risks • Risk should be reviewed throughout: – Planning – Controlling a Stage – Managing Product Delivery – Stage Boundaries – Directing a Project
    • Summary
    • 10 Simple ways to add value 1. Identifying the 5. Aggregated risk context 6. Risk owners 2. Risk descriptions 7. Mitigation actions 3. Estimating for risk 8. Reporting risk 4. Appetite and 9. Learn the lessons Tolerance 10.Manage the risk
    • Any Questions?