This document provides an overview of project risk management. It discusses the key processes involved, including planning risk management, identifying risks, performing qualitative and quantitative risk analysis, planning risk responses, and controlling risks. The document emphasizes that all projects carry risks that could impact scope, schedule, cost, or quality. It defines the difference between business risks and project risks, and notes that risks can present both threats and opportunities. The goal of project risk management is to increase the probability of positive events and decrease the probability of negative events impacting project objectives.
The document summarizes a presentation on demystifying project risk management. It discusses practical tips for project risk practitioners, including how to determine the appropriate level of risk management for a project based on its size and riskiness. It also covers managing both threats and opportunities, setting risk thresholds, regularly updating the risk assessment, and concluding risk management after project completion with a lessons learned review. The goal is to provide a scalable and iterative approach to risk management called ATOM.
The document contains 20 multiple choice questions about project risk management. The questions cover topics such as risk response strategies, risk analysis techniques, expected monetary value calculations, and differences between risk management terms. Sample questions assess understanding of how to apply risk management processes like identifying risks, performing qualitative analysis, and monitoring the risk register.
Integrated Cost & Schedule Risk Analysis ICSRA: Demystified webinar
Tuesday 14 November 2023
APM Risk Specific Interest Group
Presented by:
Robert Balaam
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/integrated-cost-schedule-risk-analysis-icsra-demystified-webinar/
Content description:
Integrated Cost & Schedule Risk Analysis (ICSRA) provides powerful insight into how a project’s critical path and cost can deviate when Estimating Uncertainty and Risk are considered. These insights can be far superior to just using the critical path, or performing separate Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA).
This webinar presented on Tuesday 14 November provided an overview and demonstrated progressive approaches and techniques to ICSRA which can be used at various stages throughout a project’s lifecycle, and using outputs to make better informed decisions and consider additional actions.
The session content is aimed at project professionals at all levels to demystify a method which is often thought of as too complicated or unnecessary.
It is also aimed at corporate and board professionals to express the supplementary understanding and awareness provided by ICSRA, why it should be executed on major projects and programmes, and the benefits of implementing ICSRA into projects and organisations.
Learn with SAZZAD - ISA 315 (Revised)
Identifying and Assessing The Risks of Material Misstatement Through
Understanding the Entity and its Environment
The APM Risk SIG presented a Quantitative Risk Analysis event on 11th February 2016 that provided perspectives across the project stakeholder spectrum, from client decision-makers to risk analysts and consultants. Dr David Hillson, The Risk Doctor, spoke about assessing overall project risk with quantitative risk analysis.
This document provides 200 sample questions for the Project Management Professional (PMP) certification exam based on the 5th edition of the PMBOK Guide. The questions cover topics like project constraints, risk management, quality management, procurement, and the five process groups. Each question includes an answer and a brief hint explaining the rationale. The questions are designed to help PMP exam candidates understand the type of questions that may be asked and prepare for the multiple choice format of the real exam.
The document contains 13 multiple choice questions about project management topics like the characteristics of a project, work breakdown structure (WBS), estimating costs, risk analysis tools, communication plans, contract requirements, quality control, and the standard five process groups. Each question is followed by an explanation of the correct answer with references to the PMBOK Guide.
The document summarizes a presentation on demystifying project risk management. It discusses practical tips for project risk practitioners, including how to determine the appropriate level of risk management for a project based on its size and riskiness. It also covers managing both threats and opportunities, setting risk thresholds, regularly updating the risk assessment, and concluding risk management after project completion with a lessons learned review. The goal is to provide a scalable and iterative approach to risk management called ATOM.
The document contains 20 multiple choice questions about project risk management. The questions cover topics such as risk response strategies, risk analysis techniques, expected monetary value calculations, and differences between risk management terms. Sample questions assess understanding of how to apply risk management processes like identifying risks, performing qualitative analysis, and monitoring the risk register.
Integrated Cost & Schedule Risk Analysis ICSRA: Demystified webinar
Tuesday 14 November 2023
APM Risk Specific Interest Group
Presented by:
Robert Balaam
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/integrated-cost-schedule-risk-analysis-icsra-demystified-webinar/
Content description:
Integrated Cost & Schedule Risk Analysis (ICSRA) provides powerful insight into how a project’s critical path and cost can deviate when Estimating Uncertainty and Risk are considered. These insights can be far superior to just using the critical path, or performing separate Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA).
This webinar presented on Tuesday 14 November provided an overview and demonstrated progressive approaches and techniques to ICSRA which can be used at various stages throughout a project’s lifecycle, and using outputs to make better informed decisions and consider additional actions.
The session content is aimed at project professionals at all levels to demystify a method which is often thought of as too complicated or unnecessary.
It is also aimed at corporate and board professionals to express the supplementary understanding and awareness provided by ICSRA, why it should be executed on major projects and programmes, and the benefits of implementing ICSRA into projects and organisations.
Learn with SAZZAD - ISA 315 (Revised)
Identifying and Assessing The Risks of Material Misstatement Through
Understanding the Entity and its Environment
The APM Risk SIG presented a Quantitative Risk Analysis event on 11th February 2016 that provided perspectives across the project stakeholder spectrum, from client decision-makers to risk analysts and consultants. Dr David Hillson, The Risk Doctor, spoke about assessing overall project risk with quantitative risk analysis.
This document provides 200 sample questions for the Project Management Professional (PMP) certification exam based on the 5th edition of the PMBOK Guide. The questions cover topics like project constraints, risk management, quality management, procurement, and the five process groups. Each question includes an answer and a brief hint explaining the rationale. The questions are designed to help PMP exam candidates understand the type of questions that may be asked and prepare for the multiple choice format of the real exam.
The document contains 13 multiple choice questions about project management topics like the characteristics of a project, work breakdown structure (WBS), estimating costs, risk analysis tools, communication plans, contract requirements, quality control, and the standard five process groups. Each question is followed by an explanation of the correct answer with references to the PMBOK Guide.
This document discusses project monitoring and control using earned value analysis (EVA) and burn graphs. It provides an overview of EVA, including its origins, explanations of key EVA concepts and metrics, examples of how to apply EVA, and potential shortcomings. It also covers burn graphs as a visual project monitoring tool, how they can be used in agile projects, and examples of burn graph types. Tools for implementing EVA and burn graphs are listed. The document concludes with potential discussion points about applying EVA and adopting burn graphs.
This document provides information on a project scoping for a project called "XYZ Framework". It includes details like the project name, funding of $5M, duration from September 2017 to August 2018, and objectives. It also outlines the expected outcomes, provides a description of what the project is about, and shows the entire project process and associated tasks. The document contains templates for project scope management, risk identification, a risk management report, listing the project team, and includes various charts and additional slides.
The document discusses risk management in Agile projects. It describes identifying risks at various stages like retrospectives and scrums. Risks are assessed based on probability and impact, and categorized. A risk board tracks risks. Risk is progressively reduced each iteration by addressing risks in user stories. The risk management process is repeated each iteration with review.
This document contains 9 multiple choice exam questions about project management concepts. The questions cover topics such as project constraints, stakeholder management, operational vs project work, organizational structures, and where to find key project information. The questions are followed by the answers to each multiple choice question.
Investors in Risk Management provides expert-driven risk maturity assessment services to assess and improve the risk management maturity using our Risk Management Maturity Model (RMMM) to mitigate the impact of uncertainty on business objectives.
This document discusses project governance for the "STAR Service Center" case study. It begins with an introduction to the project and outlines the project governance framework, which included a project owner, director, board, manager, and team. It then analyzes the case study based on four principles of effective project governance: ensuring single accountability, aligning ownership with service delivery, separating stakeholder and decision-making roles, and distinguishing project and organizational governance structures. The analysis finds that accountability was clear but some roles like the senior user were not well-defined initially. It also notes that the director had multiple roles that may have contributed to project delays. In conclusion, it recommends following a clear governance framework and avoiding multi-role players to help projects
Presenting this set of slides with name - Risk Management Module Powerpoint Presentation Slides. The stages in this process are Risk Management Module, Risk Management Framework, Risk Management Structure. https://bit.ly/3q7LuI0
Identifying and Accessing the scenario to minimize, monitor, and control the probability and/or impact of unfortunate events[ is the goal behind understanding Risk Management, Prof. Gangadharan Mani here teaches how to identify, Measure, and Mitigate the risks evolved in respective Business Environment.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
These slides are from The Risk Doctor, David Hillson's, section of the presentation at the recent APM Wessex branch afternoon risk workshop. This event was held at the Ageas Bowl in Southampton on Tuesday 1st April 2014.
David Hillson is an honorary fellow of APM and is known globally as 'The Risk Doctor'. David is well-known as an excellent speaker, presenter and trainer. Countless individuals, teams and organisations have benefited from his blend of thought-leadership with practical application, presented in an accessible style that combines clarity with humour. David’s speaking is guided by the Risk Doctor motto: “Understand profoundly so you can explain simply”.
David sat on the panel of experts for this workshop-based event and shared his expertise with delegates who were looking for a learning experience in risk.
"You can download this product from SlideTeam.net"
This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with twenty four slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Enterprise Risk Management Overview Powerpoint Presentation Slides with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization. https://bit.ly/36cU4Q9
Earned schedule role in performance reporting and other important delay indicators.
Video: https://www.youtube.com/watch?v=FbA6RWB1gDM&feature=youtu.be
The full course: https://www.luqmanacademy.com/course?course=project-control-using-evm_399sl6015424f8aba9
Video: https://twitter.com/magedkom/status/1354678096683618305?s=20
Presenting Project Brief PowerPoint Deck designed to deliver an impactful presentation. Project brief is a statement of what is required to define the possible requirements of your project. Our 55 slides presentation deck ensures to give each aspect of project brief that you would like to have it when you are looking to share information with your people. Some of the key aspects are included in this deck to such as project identification, risk identification, roles and responsibilities, project management, task list, timeline, risk assessment, communication plan etc. Every project holds an importance for the business development and requires professional approach when handling. Be it research, development, job assignment or anything. It should be planned in the systematic way. This presentation deck covers all the basics and gives you a layout as what needs to be done first and how you should move forward. From the first step till you deliver the project; all the information is available in this PowerPoint deck. Download it now to deliver your next project brief presentation in the professional way. Our Project Brief PowerPoint Presentation Slides contain the best of bygone eras. They evoke the charm of days gone by.
The document contains 23 multiple choice questions about risk management processes and terminology. It tests knowledge around identifying and prioritizing risks, qualitative and quantitative risk analysis techniques, the risk management plan, risk register, and the process of controlling risks. Key outputs of controlling risks identified are work performance information and OPA updates. Qualitative risk analysis prioritizes risks for further quantitative analysis.
1. The document discusses dotProject, an open source web-based project management and collaboration tool.
2. It explains that dotProject allows users to plan, execute, and monitor projects in an integrated environment, following the 47 processes identified by PMI across 5 process groups and 10 knowledge areas.
3. The document provides screenshots and descriptions of dotProject's features to demonstrate how it facilitates collaboration and tracking of tasks, resources, progress, and reports.
This document provides an overview of risk management for a community project. It discusses risk management during the planning and implementation phases. In the planning phase, the key steps are identifying risks, assessing their likelihood and impact to create a risk register, and developing mitigation strategies. Major risk categories include delays, costs, quality, and safety. The implementation phase focuses on construction activities and risks associated with those like variations, resources, and approvals. Continuous monitoring and updating of the risk register is important. The overall goal is to have a structured process to identify, prioritize and control risks to help ensure project success.
The link between risk management critical controls and auditingNimonik
The document discusses risk management, critical controls, and auditing. It shares perspectives on how these elements play an essential role in operational excellence. Specifically:
- Risk management and auditing critical controls help organizations understand their risks and opportunities, processes, compliance status, and focus on continual learning and improvement.
- Many operational losses are preventable but organizations often see repeat issues because they don't adequately learn from history or identify and address risks.
- Successful organizations go beyond compliance to understand their full risk profile, empower employees, and focus on eliminating waste and improving quality, energy efficiency, and safety through robust management systems and frequent auditing.
This document proposes conducting claims analysis as part of regular schedule updates to minimize risks for contractors. It describes the typical schedule update process which risks overlooking delays and assigning full responsibility to the contractor. The proposed process includes identifying causal activities, driving issues, concurrent delays, and collaborating with subcontractors and owners to resolve delays. Benefits include issues being addressed promptly, better documentation, and fewer disputes and claims costs. Some risks are increased analysis costs and time needed during updates.
A contemporaneous time impact analysis (TIA) evaluates the impact of potential delays on a construction project schedule. It involves updating the project schedule, inserting a fragnet of delay-causing activities, and comparing the predicted completion dates before and after the delay. Doing a TIA prospectively helps negotiate time extensions and avoid disputes. The presentation defines TIAs, explains how to prepare and analyze them properly according to industry standards, and discusses their benefits for both owners and contractors.
This document provides an overview of project risk management. It defines risk and discusses key concepts like risk appetite, tolerance, and threshold. It also categorizes examples of risks as external, internal, technical, and management-related. The chapter outlines the process for planning risk management, including inputs like the project management plan, charter, and stakeholder register. Tools and techniques for planning risk management include analytical methods and expert judgment. The main output is a risk management plan that defines the methodology, roles, budget, risk categories, and risk matrix to be used to manage project risks.
Software project management involves planning, estimating, scheduling, risk management, people management, reporting, and proposal writing to deliver high-quality software on time and within budget while maintaining an effective development team. Key aspects of project management include identifying and addressing risks, motivating the project team through satisfying their social, esteem and self-realization needs, and promoting cohesion among small groups of 4-6 members. Effective people management and teamwork are essential for software project success.
This document discusses project monitoring and control using earned value analysis (EVA) and burn graphs. It provides an overview of EVA, including its origins, explanations of key EVA concepts and metrics, examples of how to apply EVA, and potential shortcomings. It also covers burn graphs as a visual project monitoring tool, how they can be used in agile projects, and examples of burn graph types. Tools for implementing EVA and burn graphs are listed. The document concludes with potential discussion points about applying EVA and adopting burn graphs.
This document provides information on a project scoping for a project called "XYZ Framework". It includes details like the project name, funding of $5M, duration from September 2017 to August 2018, and objectives. It also outlines the expected outcomes, provides a description of what the project is about, and shows the entire project process and associated tasks. The document contains templates for project scope management, risk identification, a risk management report, listing the project team, and includes various charts and additional slides.
The document discusses risk management in Agile projects. It describes identifying risks at various stages like retrospectives and scrums. Risks are assessed based on probability and impact, and categorized. A risk board tracks risks. Risk is progressively reduced each iteration by addressing risks in user stories. The risk management process is repeated each iteration with review.
This document contains 9 multiple choice exam questions about project management concepts. The questions cover topics such as project constraints, stakeholder management, operational vs project work, organizational structures, and where to find key project information. The questions are followed by the answers to each multiple choice question.
Investors in Risk Management provides expert-driven risk maturity assessment services to assess and improve the risk management maturity using our Risk Management Maturity Model (RMMM) to mitigate the impact of uncertainty on business objectives.
This document discusses project governance for the "STAR Service Center" case study. It begins with an introduction to the project and outlines the project governance framework, which included a project owner, director, board, manager, and team. It then analyzes the case study based on four principles of effective project governance: ensuring single accountability, aligning ownership with service delivery, separating stakeholder and decision-making roles, and distinguishing project and organizational governance structures. The analysis finds that accountability was clear but some roles like the senior user were not well-defined initially. It also notes that the director had multiple roles that may have contributed to project delays. In conclusion, it recommends following a clear governance framework and avoiding multi-role players to help projects
Presenting this set of slides with name - Risk Management Module Powerpoint Presentation Slides. The stages in this process are Risk Management Module, Risk Management Framework, Risk Management Structure. https://bit.ly/3q7LuI0
Identifying and Accessing the scenario to minimize, monitor, and control the probability and/or impact of unfortunate events[ is the goal behind understanding Risk Management, Prof. Gangadharan Mani here teaches how to identify, Measure, and Mitigate the risks evolved in respective Business Environment.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/ZEcPAc
These slides are from The Risk Doctor, David Hillson's, section of the presentation at the recent APM Wessex branch afternoon risk workshop. This event was held at the Ageas Bowl in Southampton on Tuesday 1st April 2014.
David Hillson is an honorary fellow of APM and is known globally as 'The Risk Doctor'. David is well-known as an excellent speaker, presenter and trainer. Countless individuals, teams and organisations have benefited from his blend of thought-leadership with practical application, presented in an accessible style that combines clarity with humour. David’s speaking is guided by the Risk Doctor motto: “Understand profoundly so you can explain simply”.
David sat on the panel of experts for this workshop-based event and shared his expertise with delegates who were looking for a learning experience in risk.
"You can download this product from SlideTeam.net"
This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with twenty four slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Enterprise Risk Management Overview Powerpoint Presentation Slides with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization. https://bit.ly/36cU4Q9
Earned schedule role in performance reporting and other important delay indicators.
Video: https://www.youtube.com/watch?v=FbA6RWB1gDM&feature=youtu.be
The full course: https://www.luqmanacademy.com/course?course=project-control-using-evm_399sl6015424f8aba9
Video: https://twitter.com/magedkom/status/1354678096683618305?s=20
Presenting Project Brief PowerPoint Deck designed to deliver an impactful presentation. Project brief is a statement of what is required to define the possible requirements of your project. Our 55 slides presentation deck ensures to give each aspect of project brief that you would like to have it when you are looking to share information with your people. Some of the key aspects are included in this deck to such as project identification, risk identification, roles and responsibilities, project management, task list, timeline, risk assessment, communication plan etc. Every project holds an importance for the business development and requires professional approach when handling. Be it research, development, job assignment or anything. It should be planned in the systematic way. This presentation deck covers all the basics and gives you a layout as what needs to be done first and how you should move forward. From the first step till you deliver the project; all the information is available in this PowerPoint deck. Download it now to deliver your next project brief presentation in the professional way. Our Project Brief PowerPoint Presentation Slides contain the best of bygone eras. They evoke the charm of days gone by.
The document contains 23 multiple choice questions about risk management processes and terminology. It tests knowledge around identifying and prioritizing risks, qualitative and quantitative risk analysis techniques, the risk management plan, risk register, and the process of controlling risks. Key outputs of controlling risks identified are work performance information and OPA updates. Qualitative risk analysis prioritizes risks for further quantitative analysis.
1. The document discusses dotProject, an open source web-based project management and collaboration tool.
2. It explains that dotProject allows users to plan, execute, and monitor projects in an integrated environment, following the 47 processes identified by PMI across 5 process groups and 10 knowledge areas.
3. The document provides screenshots and descriptions of dotProject's features to demonstrate how it facilitates collaboration and tracking of tasks, resources, progress, and reports.
This document provides an overview of risk management for a community project. It discusses risk management during the planning and implementation phases. In the planning phase, the key steps are identifying risks, assessing their likelihood and impact to create a risk register, and developing mitigation strategies. Major risk categories include delays, costs, quality, and safety. The implementation phase focuses on construction activities and risks associated with those like variations, resources, and approvals. Continuous monitoring and updating of the risk register is important. The overall goal is to have a structured process to identify, prioritize and control risks to help ensure project success.
The link between risk management critical controls and auditingNimonik
The document discusses risk management, critical controls, and auditing. It shares perspectives on how these elements play an essential role in operational excellence. Specifically:
- Risk management and auditing critical controls help organizations understand their risks and opportunities, processes, compliance status, and focus on continual learning and improvement.
- Many operational losses are preventable but organizations often see repeat issues because they don't adequately learn from history or identify and address risks.
- Successful organizations go beyond compliance to understand their full risk profile, empower employees, and focus on eliminating waste and improving quality, energy efficiency, and safety through robust management systems and frequent auditing.
This document proposes conducting claims analysis as part of regular schedule updates to minimize risks for contractors. It describes the typical schedule update process which risks overlooking delays and assigning full responsibility to the contractor. The proposed process includes identifying causal activities, driving issues, concurrent delays, and collaborating with subcontractors and owners to resolve delays. Benefits include issues being addressed promptly, better documentation, and fewer disputes and claims costs. Some risks are increased analysis costs and time needed during updates.
A contemporaneous time impact analysis (TIA) evaluates the impact of potential delays on a construction project schedule. It involves updating the project schedule, inserting a fragnet of delay-causing activities, and comparing the predicted completion dates before and after the delay. Doing a TIA prospectively helps negotiate time extensions and avoid disputes. The presentation defines TIAs, explains how to prepare and analyze them properly according to industry standards, and discusses their benefits for both owners and contractors.
This document provides an overview of project risk management. It defines risk and discusses key concepts like risk appetite, tolerance, and threshold. It also categorizes examples of risks as external, internal, technical, and management-related. The chapter outlines the process for planning risk management, including inputs like the project management plan, charter, and stakeholder register. Tools and techniques for planning risk management include analytical methods and expert judgment. The main output is a risk management plan that defines the methodology, roles, budget, risk categories, and risk matrix to be used to manage project risks.
Software project management involves planning, estimating, scheduling, risk management, people management, reporting, and proposal writing to deliver high-quality software on time and within budget while maintaining an effective development team. Key aspects of project management include identifying and addressing risks, motivating the project team through satisfying their social, esteem and self-realization needs, and promoting cohesion among small groups of 4-6 members. Effective people management and teamwork are essential for software project success.
Online PMP Training Material for PMP Exam - Risk Management Knowledge AreaGlobalSkillup
Risk Management Knowledge Area in Project management defined by PMBOK 5th Edition by Project Management Institute (PMI). Provided by GlobalSkillup.com towards PMP Certification Exam.
The document provides information on project risk management processes and concepts. It discusses the seven processes of project risk management according to PMBOK, including plan risk management, identify risks, perform qualitative risk analysis, perform quantitative risk analysis, plan risk responses, implement risk responses, and monitor risks. It also covers key concepts such as different types of risks, risk thresholds, and considering stakeholder risk tolerance levels. Additionally, it provides an overview of uncertainty as a performance domain and describes what a tornado diagram is and how it can be used to determine the impact of various risks.
The document proposes a 360 Degree Risk Management Model to help organizations holistically manage risks. The model comprises people, processes, tools, and governance to 1) identify risks early, 2) mitigate negative risks, and 3) leverage learnings from risks to enhance competencies. Key aspects of the model include a corporate risk database, risk analytics dashboards, and knowledge sharing programs. The document argues the model can help organizations gain competitive advantages and improve outcomes by taking a more holistic view of risks.
The presentation about Project Risk Management conducted by Mr. Mohamad Boukhari for the project management community in Lebanon during PMI Lebanon Chapter monthly lecture.
Raid based approach for efficient project management in a pragmatic way towar...Phanindra Kishore
The document discusses a risk-based approach to project management called RAID (Risks, Assumptions, Issues, Dependencies). It proposes tracking and managing RAID attributes at each stage of the project life cycle to help streamline delivery, overcome budget and schedule overruns, and meet quality standards. Specifically, it recommends identifying and assessing RAIDs during project initiation, planning RAID tracking into project planning, and defining engineering processes to address RAIDs during project design and execution. Tracking RAIDs throughout the project life cycle using an internal project management tool can help control predictability, delivery, costs, changes, and scope.
Risk management involves identifying potential risks, assessing their probability and impact, prioritizing risks, developing strategies to mitigate high-priority risks, and continuously monitoring risks throughout the project. There are different categories of risk including project risks, technical risks, business risks, known risks, and unpredictable risks. Effective risk management requires proactively identifying risks, tracking them over time, taking steps to reduce impact or likelihood, and open communication across teams.
Travis Barker, MPA GCPM
Innovate Vancouver
https://innovatevancouver.org
Consulting@innovatevancouver.org
Download a copy of the playbook at http://innovatevancouver.org
"Project Management Generator"
The document discusses project risk management as it coincides with PMBOK 11.0. It outlines the 7 processes of project risk management according to PMBOK which are: plan risk management, identify risks, perform qualitative risk analysis, perform quantitative risk analysis, plan risk responses, implement risk responses, and monitor risks. It also discusses key concepts, trends, considerations for tailoring, and considerations for agile environments.
This document discusses various types of risks in project management. It identifies different categories of risk like stakeholder risk, regulatory risk, external risk, execution risk, scope risk, scheduling risk, resource risk, and technology risk. It also describes risk management and techniques to incorporate risk factors in projects, including using a risk adjusted discount rate, certainty equivalent coefficient, sensitivity analysis, probability assignment, standard deviation, coefficient of variation, and decision tree analysis.
As per PMBOK - "The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk. Risk may have positive effects or negative effects on the project “Schedule” and/or “Cost”. Positive risks are Opportunities and negative risks are losses or threats; remember both risks are uncertain “percentage of occurrence less than 80%”. Risk Management purpose is to manage (Plan and implement) these uncertainties.
5 Project Risk Management
adrian825/iStock/Thinkstock
Learning Objectives
By the end of this chapter, you will be able to:
• Define and describe project risk.
• Understand the risk management process.
• Discuss the risk identification process.
• Explain the risk analysis process.
• Describe the risk response process.
• Explain the role of risk monitoring and control.
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Introduction
Pretest
1. Brainstorming is a good initial approach for identifying risks to a project.
a. True
b. False
2. The risk management process is a three-step process.
a. True
b. False
3. When risks are identified later in the project process, the cost to address these issues
will increase.
a. True
b. False
4. A risk that has a high probability of occurring might have little impact on a project.
a. True
b. False
5. A project manager who has not created a documented risk response plan has not
considered risks fully enough.
a. True
b. False
6. An output of risk monitoring and control includes updating the risk database.
a. True
b. False
Answers can be found at the end of the chapter.
Introduction
Have you ever visited a public park facility and seen an observation tower with a sign reading
“Climb at your own risk?” That is a good example of risk, the chance that something could go
wrong. The park is not only warning you about the risks of climbing the tower, but also saying
that it is not liable should something happen during the climb. In other words, the park is not
willing to share in the risk—it is all yours. In project management there are similar risks that
something will go wrong. The best way to handle anticipated risks is to document and analyze
them beforehand and decide what to do about them should they occur.
Good managers look for risks throughout the project cycle, know what the risks are before they
occur, and work to communicate, prevent, and offset them in their daily decisions and routines.
For instance, if the project manager is aware that a supplier of a key product component might
not keep an adequate inventory of that component on hand and could potentially delay the
project when it is due, the manager may adjust the relevant supply contract to include a penalty
clause for late delivery or make other changes in the way the supplier’s inventory is handled.
The principle is that project managers should be able to identify what might happen, what
the probabilities are that a risk event might occur, what the impacts will be, and how to
prevent or mitigate risks. This principle assumes that failure can be attributed to key events
or circumstances.
H1
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Section 5.1 The Risk Problem
Risk management is the process of recognizing risks and dealing with them in a project. This
means that risks are identified, ana.
The document discusses risk planning and management for projects. It defines key risk management terms and outlines various types of risks that may be encountered on projects, such as computer-related risks, human-related risks, and risks specific to software projects. The document also discusses risk identification techniques, qualitative and quantitative risk analysis, developing risk responses, and creating a risk register to document identified risks and related information.
Online PMP Training Material for PMP Exam - Integration Management Knowledge ...GlobalSkillup
This document provides an overview of integration management processes in project management. It discusses the six key integration management processes: develop project charter, develop project management plan, direct and manage project work, monitor and control project work, perform integrated change control, and close project or phase. For each process, it describes the inputs, tools and techniques, and outputs involved. It also discusses concepts like corrective and preventive action, deliverables, work performance data, and how change control is performed. The overall purpose is to explain how integration processes pull together all aspects of a project to ensure successful delivery of project objectives and requirements.
This document provides information about an instructor of project management named Mohamed Maged. It outlines his qualifications and experience in construction management, as well as the courses and materials he provides on topics like project planning, claims resolution, and PMP exam preparation. It also briefly describes the Project Management Body of Knowledge and its integration processes, with examples of how expert judgment, facilitation, and change management apply. The document aims to help students and professionals prepare for the PMP exam and improve their project management skills.
The document discusses the concept of risk and risk management process in developing PROTON's Intranet. It identifies 10 risks related to requirements, hardware, skills, performance, attrition, technology change, underestimating size and cost, and organizational decisions. It also lists some risk management best practices and tools like RAD, QA, version control, disaster recovery and business continuity planning.
This document provides guidance on successful project execution through 18 chapters. It discusses that project success is highly predictable when proper project management procedures are followed. Some key elements of success include accurate planning, reasonable goals, experienced resources, and allowing for adequate contingencies to address unforeseen conditions. While no project manager can guarantee success, they can manage projects to stay within budget and schedule by closely following proven project management steps such as developing a work breakdown structure, estimating durations, creating a logical schedule, controlling procurement, monitoring daily progress, implementing recovery plans if needed, and closing out the project upon completion.
The document discusses scope creep, providing cases and preventative actions. It defines scope and scope creep, noting that scope creep is a common issue on many projects that can lead to going over budget and missing deadlines. The document then provides tips for controlling scope creep such as thoroughly understanding requirements, having a well-defined WBS, using change control forms, and expect some scope creep to occur. It encourages sharing lessons learned from experience to help improve projects and careers.
Employment PracticesRegulation and Multinational CorporationsRoopaTemkar
Employment PracticesRegulation and Multinational Corporations
Strategic decision making within MNCs constrained or determined by the implementation of laws and codes of practice and by pressure from political actors. Managers in MNCs have to make choices that are shaped by gvmt. intervention and the local economy.
Integrity in leadership builds trust by ensuring consistency between words an...Ram V Chary
Integrity in leadership builds trust by ensuring consistency between words and actions, making leaders reliable and credible. It also ensures ethical decision-making, which fosters a positive organizational culture and promotes long-term success. #RamVChary
Enriching engagement with ethical review processesstrikingabalance
New ethics review processes at the University of Bath. Presented at the 8th World Conference on Research Integrity by Filipa Vance, Head of Research Governance and Compliance at the University of Bath. June 2024, Athens
Org Design is a core skill to be mastered by management for any successful org change.
Org Topologies™ in its essence is a two-dimensional space with 16 distinctive boxes - atomic organizational archetypes. That space helps you to plot your current operating model by positioning individuals, departments, and teams on the map. This will give a profound understanding of the performance of your value-creating organizational ecosystem.
Originally presented at XP2024 Bolzano
While agile has entered the post-mainstream age, possibly losing its mojo along the way, the rise of remote working is dealing a more severe blow than its industrialization.
In this talk we'll have a look to the cumulative effect of the constraints of a remote working environment and of the common countermeasures.
Public Speaking Tips to Help You Be A Strong Leader.pdfPinta Partners
In the realm of effective leadership, a multitude of skills come into play, but one stands out as both crucial and challenging: public speaking.
Public speaking transcends mere eloquence; it serves as the medium through which leaders articulate their vision, inspire action, and foster engagement. For leaders, refining public speaking skills is essential, elevating their ability to influence, persuade, and lead with resolute conviction. Here are some key tips to consider: https://joellandau.com/the-public-speaking-tips-to-help-you-be-a-stronger-leader/
Impact of Effective Performance Appraisal Systems on Employee Motivation and ...Dr. Nazrul Islam
Healthy economic development requires properly managing the banking industry of any
country. Along with state-owned banks, private banks play a critical role in the country's economy.
Managers in all types of banks now confront the same challenge: how to get the utmost output from
their employees. Therefore, Performance appraisal appears to be inevitable since it set the
standard for comparing actual performance to established objectives and recommending practical
solutions that help the organization achieve sustainable growth. Therefore, the purpose of this
research is to determine the effect of performance appraisal on employee motivation and retention.
12 steps to transform your organization into the agile org you deservePierre E. NEIS
During an organizational transformation, the shift is from the previous state to an improved one. In the realm of agility, I emphasize the significance of identifying polarities. This approach helps establish a clear understanding of your objectives. I have outlined 12 incremental actions to delineate your organizational strategy.
Designing and Sustaining Large-Scale Value-Centered Agile Ecosystems (powered...Alexey Krivitsky
Is Agile dead? It depends on what you mean by 'Agile'. If you mean that the organizations are not getting the promised benefits because they were focusing too much on the team-level agile "ways of working" instead of systemic global improvements -- then we are in agreement. It is a misunderstanding of Agility that led us down a dead-end. At Org Topologies, we see bright sparks -- the signs of the 'second wave of Agile' as we call it. The emphasis is shifting towards both in-team and inter-team collaboration. Away from false dichotomies. Both: team autonomy and shared broad product ownership are required to sustain true result-oriented organizational agility. Org Topologies is a package offering a visual language plus thinking tools required to communicate org development direction and can be used to help design and then sustain org change aiming at higher organizational archetypes.
A presentation on mastering key management concepts across projects, products, programs, and portfolios. Whether you're an aspiring manager or looking to enhance your skills, this session will provide you with the knowledge and tools to succeed in various management roles. Learn about the distinct lifecycles, methodologies, and essential skillsets needed to thrive in today's dynamic business environment.
Comparing Stability and Sustainability in Agile SystemsRob Healy
Copy of the presentation given at XP2024 based on a research paper.
In this paper we explain wat overwork is and the physical and mental health risks associated with it.
We then explore how overwork relates to system stability and inventory.
Finally there is a call to action for Team Leads / Scrum Masters / Managers to measure and monitor excess work for individual teams.