Basic Risk management concepts presented by YouExec(c)

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2. External Risks
Access to Services
Processes
Business Interruption
Emergency Response
People
Financial
Technology
Infrastructure
ENABLERS
Governance
Strategic Planning
Ethics & Values
Stakeholder Relations
STRATEGIC
Demand
Regulatory Economical Environment
Socio-political
OPERATIONAL
Internal Risks

3. Product Performance Data Accuracy Team work Consumer service
Assembly Quality system
Design System/ Software Product cost Environment
Tools Sigma Levels
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Product Design System / Software
Project
Management
All Others
Manufacturing Quality
Risk Categories

4. Obtain an estimate of the risk appetite of the shareholders with the help of the
below bar graph. This will help in assessing the acceptable risk level
Risk Appetite Table
Within Risk
Appetite
Exceed Risk Appetite
I
m
p
a
c
t
L i k e l i h o o d
Low
High
Low High
Medium
Medium

5. Risk Impact & Probability Analysis
Manageable by exchange against Internal
budgets
Increases threaten viability of project
Require some additional funding from
Institution
Requires Significant additional funding
from Institution
Requires Significant reallocation of
Institutional funds (or borrowing)
Slight slippage against internal targets
Delay jeopardizes viability of project
Slight slippage against key milestones or
published targets
Delay affects key stakeholders – loss of
confidence in the project
Failure to meet key deadlines in relation to
academic year or strategic plan
Slight reduction in quality/scope, no overall
impact
Project outcomes effectively unusable
Failure to include certain ‘nice to have’
elements
Significant elements of scope for
functionality will be unavailable.
Failure to meet the needs of a large
proportion of stakeholders
Cost
Very Low
Low
Medium
High
Very High
Time Quality

6. A. Detectability is very high
B. Considerable warning of failure before occurrence
C. Some warning of failure before occurrence
D. Little warning of failure before occurrence
E. Detectability is effectively zero
1. No. direct effect on operating service level
2. Minor deterioration in operating service level
3. Definite reduction in operating service level
4. Source deterioration in operating service level
5. Operating service level approaches zero
E. Probability of once in many years
D. Probability of once in many operating months
C. Probability of once in some operating weeks
B. Probability of weekly occurrence
A. Probability of daily occurrence
Risk Assessment
› Major uncertainties remain
› No or little prior experience or data
› Infrastructure and/or resources not in place
› Some uncertainties remain
› Some experience and data exist
› Infrastructure in place but under-resourced
› Few uncertainties remain
› Significant experience and data exist
› Infrastructure in place and fully
Probability
› Performance, quality, cost or safety
impacts resulting in major redesign and
program delay
› Performance, quality, cost and/or safety
impacts resulting in minor redesign and
schedule adjustment
› Performance, quality, cost and safety
requirements met within planned
schedule
Impact Risk Map
High (5)
Medium (3)
Low (1)
1 2 3 4
2 4 6 8
3 6 9 12
4 8 12 16
Low Med High Critical
No concern
Proceed w/
caution
Significant risk
Show stopper
RISK SCORING SYSTEM
Consequences Likelihood of Occurrence Likelihood of Detection

7. CONSEQUENCES
3 5
1 2 4
Risk Assessment (Cont.)
Insignificant Minor Moderate Major Catastrophic
- - -
- -
- - -
- -
- - - -
-
- - - -
-
- - - - -
A. Almost Certain
B. Likely
C. Possible
D. Unlikely
E. Rare
LIKELIHOOD
Extreme Risk
Immediate Action where senior
management get involved
High Risk
Management responsibility
Should be specified
Moderate Risk
Managed by specific
responsible person
Low Risk
Managed by
routine process

8. Risk Mitigation Plan
Update client more frequently
along the way with project
progress
Perform periodical check
on server status
Monitor any updates on popular web
browser and / or bootstrap and
make sure all UI design works as
intended on updated web browsers
or responsive bootstrap
CLIENT MANAGEMENT
IDENTIFIED RISK
Miscommunication with sponsor or
client regarding project
requirement and expectations
Server is down which causes project
to be slightly delayed due to
application not able to load
SERVER
IDENTIFIED RISK
TECHNICAL
IDENTIFIED RISK
Popular web browsers may get an
update that will discontinue
support for features used in our
development as we using
responsive bootstrap.

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