Are you making these risk management mistakes? Bryan Barrow

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Association for Project Management

Presentation given by Bryan Barrow to the SWWE branch at AirBus in Bristol, on 30 January 2019

Education

Are You Making These Risk
Management Mistakes?
Bryan Barrow
CITP MAPM MBCS MPSA
©2019 Bryan Barrow

BRYAN BARROW: BIO
•  Former Chair of the APM’s
specific interest group (SIG)
on Risk Management
•  Author of ‘The Project
Management Workshop Handbook’,
‘Stakeholder Management’ and
‘Project Definition’
•  Creator of the ‘Index Card
Planning’ technique

TODAY’S AGENDA
•  Why manage risk?
•  10 risk management mistakes
most people make
•  The truth about ‘Black Swans’
•  How to spot bad apples
•  Why you need a realistic Plan A
•  How to create Plan B, your risk
management plan

time
cost
target max
target
max
THIS IS WHERE WE SHOULD BE

time
cost
target max
target
max
THIS IS SEEN AS ACCEPTABLE

time
cost
target max
target
max
WHAT WOULD YOU CALL THIS?

Ame
cost
INSTEAD OF TIME VS. COST
target max
target
max

Ame
risk
LOOK AT TIME VS. RISK
target max
100%

Ame
risk
LOOK AT TIME VERSUS RISK
target max
100%

“The greatest IT risk facing
most companies is more
prosaic than a catastrophe.
It is, simply, overspending.”
Nicholas G. Carr,
Author and Commentator

“ THE AVERAGE
PROJECT
SCHEDULE OVERRUN
IS 70%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

“ THE AVERAGE
PROJECT
COST OVERRUN IS
27%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

“17%
OF PROJECTS HAD A
COST OVERRUN OF
200%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

TOP 10 MISTAKES
•  People Mistakes
•  Process Mistakes
•  Publicity Mistakes

PEOPLE MISTAKES
1.  Not Involving your Team
2.  Ignoring People Risks
3.  Assuming the Worst Can’t
Happen

PROCESS MISTAKES
4.  Not identifying specific
risks
5.  No contingency planning
6.  Mistaking risks for issues
7.  Not looking for new risks

PUBLICITY MISTAKES
8.  Not publicising risks to
stakeholders
9.  Excluding partners from
risk reviews

AND FINALLY . . .
10.  Having no risk
management plans
whatsoever!

IS THIS PROJECT WORTH IT?
Beneﬁts Planned
costs
Costs to
manage risks
ConHngency
costs
Beneﬁts

FOCUS ON TOP 10 RISKS
80% of
problems
issues and
delays
20%
of risks

REVIEW RISKS WEEKLY
10 mins
Step 5
Other
Business
10 mins
Step 1
Review
Actions
20 mins
Step 2
Review
Progress
10 mins
Step 3
Review
top 10
risks
10 mins
Step 4
Review
top 10
issues

Ame
risk
WHAT HAPPENS TO RISK . . .
target max
100%

THIS IS THE RESULT
Beneﬁts Planned
Actual
costs
Costs to
manage risks Beneﬁts

FOR MORE INFORMATION
Books (available on Amazon):
Services:
•  Index Card Planning Training
•  Project Kickoff Workshop Facilitation
visit http://bryanbarrow.com/

HOW TO TO CONNECT WITH ME
Bryan Barrow
CITP MAPM MBCS MPSA
Tel:
+(44) 7954 435456
Email:
bryan@bryanbarrow.com
Web:
bryanbarrow.com
Skype:
bryanbarrow
Twitter:
@bryanbarrow

END CREDITS
LOLO JONES © The Guardian
BLACK SWAN Birdaspoetry via Photopin.com
DOMINOES Unknown
BAD APPLES Rore via Photopin.com
INDEX CARDS © Bryan Barrow
INDEX CARD PLANNING WORKSHOP © Bryan Barrow
CALCULATOR Fidler Jan via Morgueﬁle.com
PLAN B Unknown
LOUD HAILER Unknown
TRAFFIC LIGHTS Unknown
PIGGY BANK Unknown
BRYAN BARROW SPEAKING © European Commission
“Are You Making These Risk Management Mistakes” ©2019 Bryan Barrow

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