Project risk management workshops

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An approach for the identification and management of project risk.

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  • If you want to get most out of the results from the workshop, it's a great idea to have an ongoing risk management effort throughout the whole project. You can learn more in this post on how to implement a project risk management process: http://mediumrisk.com/blog/risk-management/2a46d60b1f0c
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Project risk management workshops

  1. 1. Risk workshops Increasing the chances of project success
  2. 2. What is a risk? <ul><li>A risk is a </li></ul><ul><li>potential </li></ul><ul><li>issue </li></ul>
  3. 3. A risk example... “ We might lose Janice - the project would fail without her”
  4. 4. What is a risk workshop?
  5. 5. <ul><ul><li>A risk workshop is a brainstorming </li></ul></ul><ul><ul><li>session that consists of 3 aspects.... </li></ul></ul>
  6. 6. <ul><ul><li>1 . Identification </li></ul></ul><ul><ul><li>Identify each risk that </li></ul></ul><ul><ul><li>the project is subjected to </li></ul></ul>
  7. 7. <ul><ul><li>2. Estimation </li></ul></ul>Determine how important each risk is based on an assessment of two factors...
  8. 8. <ul><ul><li>a. Probability </li></ul></ul><ul><ul><li>The probability of the risk </li></ul></ul><ul><ul><li>turning into an issue </li></ul></ul>
  9. 9. <ul><ul><li>b. Impact </li></ul></ul>The impact the risk would have on the project if it were to turn into an issue
  10. 10. <ul><ul><li>3. Evaluation </li></ul></ul><ul><ul><li>Determine whether each risk is acceptable or not, and if not... </li></ul></ul>
  11. 11. ...the actions that can be taken to make it more acceptable
  12. 12. Who should come to a risk workshop?
  13. 13. <ul><li>All core project team members should </li></ul><ul><li>come along to each risk workshop </li></ul>
  14. 14. When should the first risk workshop take place?
  15. 15. As soon as your core team is identified, and…
  16. 16. … your objectives and scope are outlined.
  17. 17. Subsequent risk workshops should be held frequently throughout the project
  18. 18. <ul><ul><li>The importance of each risk is determined by combining two factors.... </li></ul></ul>
  19. 19. ...impact and probability The importance of each risk can range from ‘insignificant’ up to ‘critical’.
  20. 20. <ul><ul><li>Once you’ve decided to hold a risk workshop... </li></ul></ul>
  21. 21. ...it requires plenty of preparation.
  22. 22. The risk workshop can be formal…
  23. 23. … or informal…
  24. 24. ...but should follow a set framework...
  25. 25. ...and last no more than one hour.
  26. 26. The risk workshop needs to follow a few steps…
  27. 27. 1. Remind everyone of the project scope
  28. 28. 2. Tell everyone the status of the project
  29. 29. … this will help get the ball rolling 3. Provide some risk examples…
  30. 30. … this is where everyone starts to get involved… 4. Risk identification…
  31. 31. ...all meeting attendees receive a pad of post-it notes...
  32. 32. … and then five minutes of silence….
  33. 33. … while all attendees make a note of every risk that they can think of.
  34. 34. 5. All risks are then collated… … you might be surprised how many are found.
  35. 35. 6. As a group, each risk is assessed… … and a ‘high’, ‘medium’, or ‘low’ score is given for impact and probability.
  36. 36. 7. If time permits, evaluate each risk....
  37. 37. ...and determine whether each one is acceptable. If not.. .
  38. 38. ...the required actions to make it more acceptable are captured.
  39. 39. Meeting minutes and any follow on actions must be recorded... ...and distributed shortly after the meeting.
  40. 40. What happens next?
  41. 41. Monitor and control of actions to address the identified threats
  42. 42. Adjust the project schedule based on risk mitigation actions
  43. 43. ...by being risk aware rather than risk averse! This approach will increase the chances of success...
  44. 44. Iain Shipley Project Manager [email_address]

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