Diploma Project Management       Captain Cook College                Sharon Boyle
   Activity 1 & 2   Discuss results for Activity 1 & 2   Written & Oral sections   Discussed outstanding assessments ...
 All seems Ok – keep up good work Just read the question carefully
   1. Determine project risks   2. Monitor and control project risks   3. Assess risk management outcomes
   Identify, document and analyse risks, in consultation    with stakeholders and higher project authority   Use establi...
   personal experience   subject matter experts   conducting or supervising qualitative and/or    quantitative   risk ...
   What are they?    ◦ – think what might happen   For each risk - How likely is it to happen?    ◦ Hit by meteor    ◦ V...
   Hit by Meteor    ◦ Likelihood – extremely low    ◦ Consequence – Catastrophic – end of world   Getting sleepy tonight...
Risk Assessment            1. Determining the Level of Risk This worksheet can be used to identify the level of risk and h...
Risk Assessment            1. Determining the Level of Risk This worksheet can be used to identify the level of risk and h...
1. Project Risk Register             Reference - Issue No. : and/or                                           Issue Date: ...
   Doggy day out   Draft up a risk management plan    ◦   the what    ◦   the how    ◦   Who we report to    ◦   How we ...
   Please fill in and submit   Talk it over and let’s discuss
   Lunch
   communication with stakeholders, dispute    resolution & modification procedures   implementation of risk control tri...
   Remember you have one in front of you…
   Manage using established project & risk    management plans to ensure achievement of    objectives   Monitor progress...
   Review project outcomes to determine    effectiveness of risk management processes    and procedures   Identify & doc...
   Powerpoint pres.    ◦ Last week’s progress & Some feedback re LMS quizzes    ◦ Introduction to Risk Management & PM  ...
   Risk & other components of PMP   Quality, Scope, Cost, Schedule   Morning Tea   Risk Management Plan for Fred’s she...
   Brainstorming – you are the experts on Fred’s    Shed
Risk management
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Risk management

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  • We only progressed to here on Thursday 11 october
  • Risk management

    1. 1. Diploma Project Management Captain Cook College Sharon Boyle
    2. 2.  Activity 1 & 2 Discuss results for Activity 1 & 2 Written & Oral sections Discussed outstanding assessments Discussed & began Communications Assessment Item due 19 October Complete outstanding assessments ?
    3. 3.  All seems Ok – keep up good work Just read the question carefully
    4. 4.  1. Determine project risks 2. Monitor and control project risks 3. Assess risk management outcomes
    5. 5.  Identify, document and analyse risks, in consultation with stakeholders and higher project authority Use established risk management techniques & tools, within delegated authority, to ◦ analyse risks, ◦ assess options ◦ recommend preferred risk approaches Develop risk management plans, secure agreement of stakeholders and communicate plans Establish designated risk management processes and procedures
    6. 6.  personal experience subject matter experts conducting or supervising qualitative and/or quantitative risk analysis, ◦ schedule simulation – using multiple Gantt charts ◦ decision analysis ◦ contingency planning – what if? ◦ alternative strategy development – what if? ◦ using specialist risk analysis tools
    7. 7.  What are they? ◦ – think what might happen For each risk - How likely is it to happen? ◦ Hit by meteor ◦ Vs ◦ getting sleepy tonight What are the consequences of this thing happening? ◦ Hit by meteor – possibly end of world as we know it ◦ Vs ◦ Getting a good night’s sleep
    8. 8.  Hit by Meteor ◦ Likelihood – extremely low ◦ Consequence – Catastrophic – end of world Getting sleepy tonight ◦ Likelihood – extremely high ◦ Consequence – Insignificant Risk assessment is a way of sorting and prioritizing risks or events or hazards
    9. 9. Risk Assessment 1. Determining the Level of Risk This worksheet can be used to identify the level of risk and help to prioritize any interventions or control measures.Consider the consequences and likelihood for each of the identified risks and use the matrix* below to establish a risk level. NB: This workbook will record the quality of your planning process - it will not ensure it. Consequence Criteria The "area of consideration" example used below is injury to people. You should copy this template and adjust these criteria for each "thing you value". 1– 2– 3– 4 – Major 5– Insignifica Minor Moderate Catastrophic nt Dealt with by Medical Significant Extensive Death. Permanent in-house first help non- permanent injury disabling injury (eg aid, etc needed. permanent (eg loss of finger/s) blindness, loss of Treatment injury.Overni Extended hand/s, by medical ght hospitalisation quadriplegia) profession hospitalisatio al/hospital n (inpatient) outpatient, etc Almostcertain to occur in Medium High (H) High (H) Very High (VH) Very High (VH) most (M)circumst ancesLikely to occur Medium Medium High (H) High (H) Very High (VH)frequentl (M) (M) yPossibleand likely Medium to occur Low (L) High (H) High (H) High (H) (M) at some timeUnlikelyto occur Medium Low (L) Low (L) Medium (M) High (H)but could (M) happen Mayoccur but only inrare and Medium Low (L) Low (L) Medium (M) High (H)exceptio (M) nalcircumst ances
    10. 10. Risk Assessment 1. Determining the Level of Risk This worksheet can be used to identify the level of risk and help to prioritize any interventions or control measures.Consider the consequences and likelihood for each of the identified risks and use the matrix* below to establish a risk level. NB: This workbook will record the quality of your planning process - it will not ensure it. Consequence Criteria The "area of consideration" example used below is injury to people. You should copy this template and adjust these criteria for each "thing you value". 1– 2– 3– 4 – Major 5– Insignifica Minor Moderate Catastrophic nt Dealt with by Medical Significant Extensive Death. Permanent in-house first help non- permanent injury disabling injury (eg aid, etc needed. permanent (eg loss of finger/s) blindness, loss of Treatment injury.Overni Extended hand/s, by medical ght hospitalisation quadriplegia) profession hospitalisatio al/hospital n (inpatient) outpatient, etc Almostcertain to Getting sleepy occur in Medium High (H) High (H) Very High (VH) Very High (VH) most (M)circumst ancesLikely to occur Medium Medium High (H) High (H) Very High (VH)frequentl (M) (M) yPossibleand likely Medium to occur Low (L) High (H) High (H) High (H) (M) at some timeUnlikelyto occur Medium Low (L) Low (L) Medium (M) High (H)but could (M) happen Mayoccur but Meteor only inrare and Medium Low (L) Low (L) Medium (M) High (H)exceptio (M) nalcircumst ances
    11. 11. 1. Project Risk Register Reference - Issue No. : and/or Issue Date: Future Review date: Identified Existing controls described & Risks Analysis & Evaluation evaluated Further Actions Effe ctiv ene Further Risk ss Consequence Risk level Likelihood Statement Action Needed Revised Risk level of Accept Risk (Yes or No) (e.g. our & description of stra Opportunities Assigned To each specific tegi es for M, H or VH - see Sheet 1) risk scenario What we ( improvement - with regard to or E - see Sheet 1) are doing Include 5 - see Sheet 1) - see Sheet 1) people, now to information, milestone(s) & manage this physical target date(s) risk. assets, finances, reputation, No (L, M, H or VH and any other Opportunities (1, 2, 3, 4, or "things you (A, B, C, D for value") improvement (L, Record by rows VH No V and cells as necessary. H VH No V HNote re effectivenessN = Not generally applied or only applied in isolated situations for example in less than 20% of cases;P = Partially applied, not usually documented or applied in less than 50% of cases;L = Largely applied, formally documented and largely repeatable or applied in up to 85% of cases;F = Fully applied, formally documented and fully repeatable or applied in more than 85% of cases.) Signed: Signed: Date: Date: Project Manager Project Manager Name: Name:
    12. 12.  Doggy day out Draft up a risk management plan ◦ the what ◦ the how ◦ Who we report to ◦ How we track Scope some risks Assess the risks Think up some strategies for the high risk  See hand out & LMS
    13. 13.  Please fill in and submit Talk it over and let’s discuss
    14. 14.  Lunch
    15. 15.  communication with stakeholders, dispute resolution & modification procedures implementation of risk control trigger mechanisms measurement of actual progress against planned milestones – ◦ remember our baselines (or starting point)? recording and reporting of major variance ◦ how far are we from the baseline? setting key milestones ◦ If we have reached this milestone how are our risks?
    16. 16.  Remember you have one in front of you…
    17. 17.  Manage using established project & risk management plans to ensure achievement of objectives Monitor progress against project plans to ◦ identify variances ◦ recommend responses Implement agreed ◦ risk responses ◦ modify plans to reflect changing
    18. 18.  Review project outcomes to determine effectiveness of risk management processes and procedures Identify & document ◦ risk issues and ◦ recommend improvements ◦ pass on to higher project authority for application in future projects
    19. 19.  Powerpoint pres. ◦ Last week’s progress & Some feedback re LMS quizzes ◦ Introduction to Risk Management & PM Determine project risks Monitor and control project risksMorning TeaDiscussion 1. – Great Taste of Manly ◦ Structuring a Risk management plan ◦ Scoping risks ◦ Risk assessment – due 12 October Lunch ◦ Fred’s Shed RMP – due 2 November ◦ Start LMS Activities 1, 2 & 3 only ◦ Complete assessment items – do what you haven’t yet finished
    20. 20.  Risk & other components of PMP Quality, Scope, Cost, Schedule Morning Tea Risk Management Plan for Fred’s shed Lunch Continue Risk Management Plan Or Activities 1,2 & 3.
    21. 21.  Brainstorming – you are the experts on Fred’s Shed
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