The document provides guidance on facilitating a risk assessment workshop. It recommends developing a solid risk register to manage risks and prioritize work. It describes how to identify risks, evaluate their likelihood and consequences, assign risk owners, and develop risk mitigation actions. Developing a risk register and actively monitoring risks can help projects stay on track and experience fewer surprises.
The document provides guidance on conducting a Hazard Identification (HAZID) study for a major project. A HAZID study aims to identify potential hazards early so they can be eliminated or reduced. The summary includes:
1) A HAZID study should involve key project personnel and be conducted early in the design phase to identify hazards that can be designed out.
2) The outcome of the HAZID study is a hazard register that informs safety and environmental requirements and can be used to design out identified hazards.
3) Conducting the HAZID study requires brainstorming potential hazards using techniques like checklists, what-if analysis, and reviewing historical incidents to populate the hazard register.
In this presentation, we will discuss about risk, project risk and four broad strategies to handle risk. We will also talk about the role of buffers and contingency plan in risk management, project tracking meetings.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
The document discusses facilitating a construction risk workshop to identify risks related to the construction process or design constructability before starting construction. The workshop aims to identify hazards within the construction process so they can be eliminated or controlled. The outcome is a risk register documenting risks, causes, impacts and control measures for the construction team. It provides tips for planning and running the workshop, including having the right participants who understand the construction schedule and activities to focus on. Tools like checklists, risk matrices and risk registers are used to systematically identify and document risks and develop control actions.
The document discusses project risk management. It defines project risk as the loss multiplied by the likelihood. Successful project leaders plan thoroughly to understand challenges, anticipate problems, and minimize variation. Project failures can occur if objectives are impossible, deliverables are possible but other objectives are unrealistic, or feasible deliverables and objectives but insufficient planning. Risk management includes qualitative and quantitative risk assessment to understand probability and impact of risks. It is important to document risks, have risk management plans, and regularly review assumptions and risks.
Who would ever fore see risk identification? by Dr.Mahboob ali khan Phd Healthcare consultant
The document discusses risk management for projects. It defines risk management as identifying, analyzing, and responding to risk factors throughout a project's lifecycle. Proper risk management is proactive rather than reactive. It provides examples of proactive versus reactive risk management. The document also discusses risk management systems, the continuous nature of risk management over a project's duration, different risk responses, reasons for doing risk management, sources of project risks, and the risk analysis process.
1. A HAZOP workshop will be facilitated to identify hazards and operability issues in a nearly finished design before they cause problems.
2. The HAZOP will involve specialists analyzing the design in a detailed and systematic way to find weaknesses.
3. The outcome will be a HAZOP register documenting any deviations, causes, consequences, safeguards, and actions needed to manage issues.
The risk plan outlines defines how risk management will be conducted for the project. It ensures that the degree, type and visibility of risk management are appropriate for the risks and importance of the project. The risk plan outlines a full list of potential risks for the project, templates and documents for risk management, methods for assessing the probability and impact of risks, prioritization of risks, preventative and mitigative actions for risks, and how risk management will be conducted throughout project stages.
The document provides guidance on conducting a Hazard Identification (HAZID) study for a major project. A HAZID study aims to identify potential hazards early so they can be eliminated or reduced. The summary includes:
1) A HAZID study should involve key project personnel and be conducted early in the design phase to identify hazards that can be designed out.
2) The outcome of the HAZID study is a hazard register that informs safety and environmental requirements and can be used to design out identified hazards.
3) Conducting the HAZID study requires brainstorming potential hazards using techniques like checklists, what-if analysis, and reviewing historical incidents to populate the hazard register.
In this presentation, we will discuss about risk, project risk and four broad strategies to handle risk. We will also talk about the role of buffers and contingency plan in risk management, project tracking meetings.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
The document discusses facilitating a construction risk workshop to identify risks related to the construction process or design constructability before starting construction. The workshop aims to identify hazards within the construction process so they can be eliminated or controlled. The outcome is a risk register documenting risks, causes, impacts and control measures for the construction team. It provides tips for planning and running the workshop, including having the right participants who understand the construction schedule and activities to focus on. Tools like checklists, risk matrices and risk registers are used to systematically identify and document risks and develop control actions.
The document discusses project risk management. It defines project risk as the loss multiplied by the likelihood. Successful project leaders plan thoroughly to understand challenges, anticipate problems, and minimize variation. Project failures can occur if objectives are impossible, deliverables are possible but other objectives are unrealistic, or feasible deliverables and objectives but insufficient planning. Risk management includes qualitative and quantitative risk assessment to understand probability and impact of risks. It is important to document risks, have risk management plans, and regularly review assumptions and risks.
Who would ever fore see risk identification? by Dr.Mahboob ali khan Phd Healthcare consultant
The document discusses risk management for projects. It defines risk management as identifying, analyzing, and responding to risk factors throughout a project's lifecycle. Proper risk management is proactive rather than reactive. It provides examples of proactive versus reactive risk management. The document also discusses risk management systems, the continuous nature of risk management over a project's duration, different risk responses, reasons for doing risk management, sources of project risks, and the risk analysis process.
1. A HAZOP workshop will be facilitated to identify hazards and operability issues in a nearly finished design before they cause problems.
2. The HAZOP will involve specialists analyzing the design in a detailed and systematic way to find weaknesses.
3. The outcome will be a HAZOP register documenting any deviations, causes, consequences, safeguards, and actions needed to manage issues.
The risk plan outlines defines how risk management will be conducted for the project. It ensures that the degree, type and visibility of risk management are appropriate for the risks and importance of the project. The risk plan outlines a full list of potential risks for the project, templates and documents for risk management, methods for assessing the probability and impact of risks, prioritization of risks, preventative and mitigative actions for risks, and how risk management will be conducted throughout project stages.
Project risk management: Techniques and strategiesDebashishDas49
Risk identification techniques and mitigation techniques in the present dynamic scenario of the industry is described here. Also, the recent research area and probable topics that one could choose as a Ph.D. topic are described briefly.
This document discusses project risk and risk management. It defines project risk as any uncertainty that can negatively or positively impact project objectives. It notes that risk management involves identifying, analyzing, and responding to risks throughout the project life cycle. The document outlines the major steps in developing a risk management plan, including identifying risks, assessing their probability and impact, developing response strategies, and monitoring risks dynamically. It concludes that while risks cannot be eliminated, they can be managed to help complete projects successfully.
This document discusses project risk management. It defines risk management as identifying, analyzing, and responding to risks to maximize positive outcomes and minimize negative consequences. Effective risk management can reduce project problems by up to 90% by using risk analysis. The key steps in risk management are planning risk management, identifying risks, performing qualitative and quantitative risk analysis, planning risk responses, and monitoring risks. Tools used include the risk register, risk breakdown structure, probability and impact matrices, and decision tree analysis. The overall process aims to systematically identify, evaluate, and respond to project risks.
This document discusses project risk management. It defines risk as an uncertain event that can positively or negatively impact project objectives. Risk management is the systematic process of identifying, analyzing, and responding to project risks. The six processes of risk management are: 1) plan risk management, 2) identify risks, 3) perform qualitative risk analysis, 4) perform quantitative risk analysis, 5) plan risk responses, and 6) monitor and control risks. Tools used include risk breakdown structures, probability and impact matrices to assess risks, and decision trees to evaluate responses. The goal is to prioritize and respond to risks to help ensure project success.
03.stakeholders and communication PMI-RMP Risk Management Professionalnanacyrah
PMI- RMP Risk Management Professional. Self-paced Learning with more than 500 Exam questions. For more details and sample questions, visit http://www.pmvision.ca/shop/pmi-rmp-certification-course/
PMVISION Training
World of Affordable Training
WWW.PMVISION.CA
This document outlines best practices for project management. It recommends (1) planning work with a project definition document, (2) defining project management procedures up front such as quality management and risk management, and (3) monitoring projects for warning signs of issues. It also advises obtaining sponsor approval for scope changes, guarding against scope creep, identifying risks early, reassessing risks ongoing, and resolving issues promptly. Following these practices can help complete projects faster, at lower cost and higher quality by effectively coordinating resources through the project life cycle.
This document provides details about Dale Newton's final project for Amp's Gym, including sections on building process, risk management, human resources, communication plans, procurement plans, leadership and management styles, training approaches, outsourcing, and more. The project involves building a new gym location to replace an old one that was losing money. Project risks are identified and ranked. Human resource, communication, and procurement plans are outlined. Leadership styles and virtual team management are discussed. The conclusion notes that both leadership and management are needed for project success. Changes to project scope, timeline or budget would require discussion with the sponsor and co-sponsor.
This document provides an overview of project risk management processes based on PMBOK and ISO 31000 standards. It discusses key concepts such as defining project risk, risk management, and establishing the context for risk identification. The core processes covered are identifying risks, analyzing and evaluating them based on impact and likelihood, developing treatment plans, and ongoing monitoring. Contingency planning is presented as a means to address risks through fallback options and workarounds. Various techniques are demonstrated like risk matrices and probabilistic cost estimating approaches.
The document discusses risk management for projects. It defines risk as any uncertain event or condition that could positively or negatively impact a project's objectives. It notes that through risk management, a project manager can identify potential problems, take actions to prevent or minimize risks, and stay in control of the project. The document outlines the key steps in risk management as identifying risks, analyzing them, planning responses, implementing responses, and monitoring risks. It also discusses different ways to handle risks, such as avoiding, mitigating, transferring, accepting, or escalating risks.
Project Management Best Practices: Brock Boddie/General AssemblyGeneral Assembly
You've managed an interactive project or two before, but it could have gone better — want to find out where you might improve? This class is designed to give an overview of the best practices for project management. From developing a solid project foundation to improving communication and collaboration within your team, this class will provide a clearer idea of where you should focus your energy as a project manager.
Want to learn more? Join Front Row today and access on-demand videos, livestreams, and much more: http://bit.ly/1aqAivV
This was a presentation given by Lisa Shi, head of risk management at E C Harris Hong Kong, at the Royal Hong Kong Yacht club as one of the APM HK branch's monthly CPD events. Lisa gave her presentation to some 30 local members and guests.
This document discusses risk management and analysis. It defines risk management as identifying, analyzing, and responding to risks. Risk analysis helps identify potential problems that could undermine projects or initiatives. The key steps of risk analysis include identifying threats, estimating the likelihood and impact of each threat, and developing risk mitigation strategies. Quantitative techniques like decision trees and expected monetary value analysis can also be used. Ongoing risk monitoring and control is important to evaluate risks and ensure responses remain effective.
A risk is defined as “an uncertain event or condition that, if it occurs, has a positive and negative effect on a project’s objectives.” Risk is inherent with any project, and project managers should assess risk continually and develop plan to address them. The risk management plan contains an analysis of likely risks with both high and low impact, as well as mitigation strategies to help the project avoid being derailed should common problems arise. Risk management plans should be periodically reviewed by the project team in order to avoid having the analysis become stale and not reflective of actual potential project risks. Most critical, risk management plans include a risk strategy.
This module on Managing Risk discusses different type of risk that needs to be taken into account by the management while implementing a project. The other topics converged in this module include probability-impact matrix, Risk Quantification; Mitigating/Transferring risk; Risk audits/Review; Sample Risk plan and how to initiate Risk Management Planning.
Risk Management is essential to the success of all project work. Information about key project cost, performance, and schedule attributes are often unknown until the project is underway and changes are occurring during execution.
The Art and Science Behind Successful Risk WorkshopsAcumen
This paper discusses how a well-structured balance of risk process combined with sound workshop facilitation can provide more value to a project’s bottom line than most typically ever realize. Imagine a silver bullet that enables you to objectively determine accurate project costs; contingency; strategic insight into which projects should be considered portfolio inclusion; and how realistic a project plan is. Sound too good to be true? Read on…
PMP, PMBOK (R) 5th Edition,
CH: 11: Project Risk Management
--> Represents one of two biggest chapters, of the PMBOK
==> Too much useful, for the people who have concern in the project management field, & the risk management field as well
Construction Risk Summit "benefit and pits of Construction Risk Management"bfriday
This document discusses conducting risk management on major projects. It provides an overview of John Holland, an engineering and construction company, and explains why risk management is important for major projects. Some key benefits of risk management mentioned include focusing teams on objectives, protecting balance sheets, gaining alignment on critical risks, and understanding residual uncertainty. The document also outlines some pitfalls to avoid, such as not involving risk information in decision making. It emphasizes the importance of focusing on key risks and matching the appropriate risk tools to each project.
Dr. Mustafa Degerli - 2017 - PMI - RMP (Risk Management Professional)Dr. Mustafa Değerli
Dr. Mustafa Degerli has been evaluated and certified as a PMI Risk Management Professional (PMI-RMP) by the Project Management Institute. This credential certifies his expertise in assessing and identifying project risks through August 2020. The Board of Directors and President of PMI have signed and sealed this certification of Dr. Degerli's knowledge and skills in risk management.
Ateet Kapadia | Simple Tips for Project Risk Management TechniquesAteetKapadia
Make sure to incorporate explicit prompts and reminders into your risk management process to take into account positive risks. Although a deliverable arriving substantially ahead of schedule might be beneficial, it can also have unanticipated effects on other elements of the project or cause it to operate inefficiently. On the other hand, a risk of this nature can serve to counteract the effects of dangers in other areas.
https://www.slideshare.net/AteetKapadia/ateet-kapadia-how-do-you-assess-your-companys-future
Project risk management: Techniques and strategiesDebashishDas49
Risk identification techniques and mitigation techniques in the present dynamic scenario of the industry is described here. Also, the recent research area and probable topics that one could choose as a Ph.D. topic are described briefly.
This document discusses project risk and risk management. It defines project risk as any uncertainty that can negatively or positively impact project objectives. It notes that risk management involves identifying, analyzing, and responding to risks throughout the project life cycle. The document outlines the major steps in developing a risk management plan, including identifying risks, assessing their probability and impact, developing response strategies, and monitoring risks dynamically. It concludes that while risks cannot be eliminated, they can be managed to help complete projects successfully.
This document discusses project risk management. It defines risk management as identifying, analyzing, and responding to risks to maximize positive outcomes and minimize negative consequences. Effective risk management can reduce project problems by up to 90% by using risk analysis. The key steps in risk management are planning risk management, identifying risks, performing qualitative and quantitative risk analysis, planning risk responses, and monitoring risks. Tools used include the risk register, risk breakdown structure, probability and impact matrices, and decision tree analysis. The overall process aims to systematically identify, evaluate, and respond to project risks.
This document discusses project risk management. It defines risk as an uncertain event that can positively or negatively impact project objectives. Risk management is the systematic process of identifying, analyzing, and responding to project risks. The six processes of risk management are: 1) plan risk management, 2) identify risks, 3) perform qualitative risk analysis, 4) perform quantitative risk analysis, 5) plan risk responses, and 6) monitor and control risks. Tools used include risk breakdown structures, probability and impact matrices to assess risks, and decision trees to evaluate responses. The goal is to prioritize and respond to risks to help ensure project success.
03.stakeholders and communication PMI-RMP Risk Management Professionalnanacyrah
PMI- RMP Risk Management Professional. Self-paced Learning with more than 500 Exam questions. For more details and sample questions, visit http://www.pmvision.ca/shop/pmi-rmp-certification-course/
PMVISION Training
World of Affordable Training
WWW.PMVISION.CA
This document outlines best practices for project management. It recommends (1) planning work with a project definition document, (2) defining project management procedures up front such as quality management and risk management, and (3) monitoring projects for warning signs of issues. It also advises obtaining sponsor approval for scope changes, guarding against scope creep, identifying risks early, reassessing risks ongoing, and resolving issues promptly. Following these practices can help complete projects faster, at lower cost and higher quality by effectively coordinating resources through the project life cycle.
This document provides details about Dale Newton's final project for Amp's Gym, including sections on building process, risk management, human resources, communication plans, procurement plans, leadership and management styles, training approaches, outsourcing, and more. The project involves building a new gym location to replace an old one that was losing money. Project risks are identified and ranked. Human resource, communication, and procurement plans are outlined. Leadership styles and virtual team management are discussed. The conclusion notes that both leadership and management are needed for project success. Changes to project scope, timeline or budget would require discussion with the sponsor and co-sponsor.
This document provides an overview of project risk management processes based on PMBOK and ISO 31000 standards. It discusses key concepts such as defining project risk, risk management, and establishing the context for risk identification. The core processes covered are identifying risks, analyzing and evaluating them based on impact and likelihood, developing treatment plans, and ongoing monitoring. Contingency planning is presented as a means to address risks through fallback options and workarounds. Various techniques are demonstrated like risk matrices and probabilistic cost estimating approaches.
The document discusses risk management for projects. It defines risk as any uncertain event or condition that could positively or negatively impact a project's objectives. It notes that through risk management, a project manager can identify potential problems, take actions to prevent or minimize risks, and stay in control of the project. The document outlines the key steps in risk management as identifying risks, analyzing them, planning responses, implementing responses, and monitoring risks. It also discusses different ways to handle risks, such as avoiding, mitigating, transferring, accepting, or escalating risks.
Project Management Best Practices: Brock Boddie/General AssemblyGeneral Assembly
You've managed an interactive project or two before, but it could have gone better — want to find out where you might improve? This class is designed to give an overview of the best practices for project management. From developing a solid project foundation to improving communication and collaboration within your team, this class will provide a clearer idea of where you should focus your energy as a project manager.
Want to learn more? Join Front Row today and access on-demand videos, livestreams, and much more: http://bit.ly/1aqAivV
This was a presentation given by Lisa Shi, head of risk management at E C Harris Hong Kong, at the Royal Hong Kong Yacht club as one of the APM HK branch's monthly CPD events. Lisa gave her presentation to some 30 local members and guests.
This document discusses risk management and analysis. It defines risk management as identifying, analyzing, and responding to risks. Risk analysis helps identify potential problems that could undermine projects or initiatives. The key steps of risk analysis include identifying threats, estimating the likelihood and impact of each threat, and developing risk mitigation strategies. Quantitative techniques like decision trees and expected monetary value analysis can also be used. Ongoing risk monitoring and control is important to evaluate risks and ensure responses remain effective.
A risk is defined as “an uncertain event or condition that, if it occurs, has a positive and negative effect on a project’s objectives.” Risk is inherent with any project, and project managers should assess risk continually and develop plan to address them. The risk management plan contains an analysis of likely risks with both high and low impact, as well as mitigation strategies to help the project avoid being derailed should common problems arise. Risk management plans should be periodically reviewed by the project team in order to avoid having the analysis become stale and not reflective of actual potential project risks. Most critical, risk management plans include a risk strategy.
This module on Managing Risk discusses different type of risk that needs to be taken into account by the management while implementing a project. The other topics converged in this module include probability-impact matrix, Risk Quantification; Mitigating/Transferring risk; Risk audits/Review; Sample Risk plan and how to initiate Risk Management Planning.
Risk Management is essential to the success of all project work. Information about key project cost, performance, and schedule attributes are often unknown until the project is underway and changes are occurring during execution.
The Art and Science Behind Successful Risk WorkshopsAcumen
This paper discusses how a well-structured balance of risk process combined with sound workshop facilitation can provide more value to a project’s bottom line than most typically ever realize. Imagine a silver bullet that enables you to objectively determine accurate project costs; contingency; strategic insight into which projects should be considered portfolio inclusion; and how realistic a project plan is. Sound too good to be true? Read on…
PMP, PMBOK (R) 5th Edition,
CH: 11: Project Risk Management
--> Represents one of two biggest chapters, of the PMBOK
==> Too much useful, for the people who have concern in the project management field, & the risk management field as well
Construction Risk Summit "benefit and pits of Construction Risk Management"bfriday
This document discusses conducting risk management on major projects. It provides an overview of John Holland, an engineering and construction company, and explains why risk management is important for major projects. Some key benefits of risk management mentioned include focusing teams on objectives, protecting balance sheets, gaining alignment on critical risks, and understanding residual uncertainty. The document also outlines some pitfalls to avoid, such as not involving risk information in decision making. It emphasizes the importance of focusing on key risks and matching the appropriate risk tools to each project.
Dr. Mustafa Degerli - 2017 - PMI - RMP (Risk Management Professional)Dr. Mustafa Değerli
Dr. Mustafa Degerli has been evaluated and certified as a PMI Risk Management Professional (PMI-RMP) by the Project Management Institute. This credential certifies his expertise in assessing and identifying project risks through August 2020. The Board of Directors and President of PMI have signed and sealed this certification of Dr. Degerli's knowledge and skills in risk management.
Ateet Kapadia | Simple Tips for Project Risk Management TechniquesAteetKapadia
Make sure to incorporate explicit prompts and reminders into your risk management process to take into account positive risks. Although a deliverable arriving substantially ahead of schedule might be beneficial, it can also have unanticipated effects on other elements of the project or cause it to operate inefficiently. On the other hand, a risk of this nature can serve to counteract the effects of dangers in other areas.
https://www.slideshare.net/AteetKapadia/ateet-kapadia-how-do-you-assess-your-companys-future
Table of Contents Project Outline. …………………………………………………………………….docxMARRY7
Table of Contents
Project Outline. ……………………………………………………………………..…………………………………………… 3
Risk Management Justification……………………………………………………………………………………….…….…5
Project Risks Identification……………………………..……………………….……………………………………….…….7
Project Risks Assessment…………….…………………………………………………………….………………………….12
Project Risks Response Strategy…………………………………………………………………………………………... 15
Project Risks Responsibility Plan..…………………………….………..………………………………………………….19
Project Risks Monitoring &Control Plan………….…………………………………….………………………………..20
Project Risks WBS & Budget Updates……………………………………………………………………………………21
Project Risks Communication Plan…………………………………………………………………………………………22
References…………………………………………………………………………………………………………………………….20
Project Outline
The institution that I will be focusing my individual project on is that of the Scotia Bank Institution. Scotia Bank is a world-renowned banking institution founded over fifty years ago. The company whose headquarters are in California has many divisions of business, the most profitable being banking, insurance and stocks. The company features over one hundred and seventy branches that are all connected to one platform and database. The institution has sought to give their clients some degree of unlimited access focusing on alternate means of updating and accessing multiple accounts at once regardless of location.
The information technology department of the scotia bank group has recently launched the development of a mobile application that will increase client relations through the use of improved mediums and levels of access for everyday business transactions. It has come to the attention of the business segment of the. The board of directors that the level of productivity within the organization is rapidly depreciating and as such reevaluation of both software and employee
Personnel have been put in place to identify the reason, risk and solution for the dip in productivity following the implementation of the latest software tactic.
The department of information technology software and development protocols currently uses an agile methodological approach in developing all software. The pros and cons of this approach have long been preferred based on the ever-changing needs of the company. However stakeholders involved would prefer a complete overview of this approach to determine the degree of success or possible need for change as such the a project manager has been selected to provide through detailing on the process of evaluating human and software elements affecting the cooperation as it regards to production.
The company has one branch in every state of the United States as well as twenty branches in the Caribbean and the remaining branches are located in Europe and Asia. The branches hold a little over three hundred employees total with an Information technology of two per branch .The information technology department is focused on developing software and maintaining existing software needed for the ...
This Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants specialized in risk management. It will help you easily identify, assess, prioritize and mitigate the key risks & issues of your project or company. It includes all the Frameworks, Tools & Templates to help your increase your risk management skills and the risk management capability of your company. This Slideshare Powerpoint presentation is only a small preview of our Toolkit. You can download the entire Toolkit in Powerpoint and Excel at www.slidebooks.com
The document provides an overview of a risk management toolkit created by management consultants. The toolkit includes frameworks, tools, templates, tutorials, and best practices to help users define their risk management strategy and identify, assess, prioritize, mitigate and monitor risks. It outlines a 7-phase risk management approach. The summary highlights that the toolkit aims to provide a systematic approach to risk management and informed decision making.
The document discusses risk management in software testing projects. It defines risk management and identifies key risks in testing like lack of tester training. It outlines the stages of risk management - risk assessment and risk control. Risk assessment involves identifying, analyzing and prioritizing risks. Risk control involves mitigating risks through actions, planning for significant risks, monitoring risks, and communicating risks. The project manager is responsible for leading risk management.
This document discusses the importance of project risk management. It states that proactively managing risks can help projects succeed, while failing to manage risks can lead to problems. It also discusses developing a risk management plan and process to identify, assess, respond to, and manage risks throughout a project. Finally, it discusses taking a holistic view of risk management across an entire project portfolio.
This one-day introductory workshop introduces key concepts of risk management. It will expose delegates to a practical risk management process using case studies and risk management software. The workshop objectives are to cover basic risk concepts, identification techniques, analysis methods, response strategies, and risk management implementation. Attendees will use a tried and tested process to make simulated project decisions and evaluate options based on risk threats and opportunities. Ongoing support is available for facilitation, implementation, and individual risk certification.
This presentation covers the fundamentals of project management, including defining key terms like scope, deliverables, and milestones. It outlines the typical project lifecycle in 4 stages - initiation, planning, execution, and closing. The stages involve defining objectives, creating comprehensive plans, managing teams and progress, controlling risks, and evaluating success. Best practices discussed include stakeholder engagement, risk management, and effective communication.
Project Management Techniques For Success And FailureAshley Thomas
This document discusses various risk management techniques that can be applied to construction projects. It identifies 7 main types of risks that commonly occur in construction projects, such as technical risks related to design issues and construction risks related to labor or equipment problems. It then outlines 6 risk management techniques, including risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning, risk monitoring and control, and risk communication. These techniques help construction project managers identify potential risks, analyze their likelihood and impact, develop response strategies, and monitor and control risks throughout the project life cycle.
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.
This document discusses project risk management. It defines risk management as actively managing risks on a project with the goal of being proactive rather than reactive. The key aspects of risk management covered are identifying risks, performing qualitative and quantitative risk analysis to rank risks, and planning risk responses to deal with risks if they occur. Tools for risk management include risk breakdown structures to organize risks, risk profiling to assess common risk areas, and maintaining a risk register to track identified risks and responses. Stakeholder involvement and clear documentation are important parts of establishing an effective risk management plan.
You will construct a manual for your company that defines the Risk M.pdfthangarajarivukadal
You will construct a manual for your company that defines the Risk Management Policy for all
future projects. For this, you can adopt the perspective of either a: - Option 1: o For Profit
Company that develops new products, and each product might be considered a project. For this
you will adopt the perspective of a Project Management Office (PMO) and you are developing
the manual that is used by all Project Managers (PM) who will be conducted a risk assessment
for all future projects. - Option 2: o City or town that has many projects in development or
underway, such as park operations, traffic operations, public works, etc… For this you will adopt
the perspective of a risk manager for a production facility or city/town, and you are drafting
policy for risk assessments of worker safety Whether you select Option 1 or Option 2, you will
draft the manual using the tools and materials that we have reviewed in Weeks 1 through 4 of
this class. The manual should be in a form such that a reasonably educated and informed
individual is able to pick the manual up, and have enough guidance for implementing the policy.
If you think about some of the documents we have reviewed thus far, they are a mix of policy,
guidance and specific methodologies. Your manual should follow the same general form: - What
is the general purpose of the manual - What is the interaction between policy and implementation
- What specific method are employed to assess the risk so that it can be managed It is expected
that - you will select two or more (but certainly not all) of the methods from the ISO and USCG
documents as the official method used to assess risk within your organization. - Offer guidance
as to when some specific method should be employed. Notice that this format follows the USCG
Risk-based Decision Making (RBDM) wherein they offer substantive guidance as to which
method should be used for which situation. This is compared to the ISO document which offers
generalities as to risk management policy, but offer limited guidance as to when to use specific
methods. Therefore, the project is NOT expected to be 27 pages of text (for example), but it IS
expected to be more than 5. Maybe 10? It all depends on what is necessary to get the job done. -
It is up to you, the student, to determine what is required based on your understanding of the
material thus far, and to draft a manual that is robust enough that you would feel comfortable
submitting to your supervisor if that supervisor asked for a risk management manual to be
drafted. The basic question is: what do you think this manual would look like? - What is you
organizational process for answering the 5 questions for any new project that is being considered
- There should be enough procedure and guidance information that the user is able to open the
document and leverage it towards a robust risk assessment that can be applied to the 90%
situation - Submit this as a ‘professional’ manual that you might find in the risk ma.
Risk management is a process to minimize the risk of a project not achieving its objectives. It involves identifying risks, analyzing their likelihood and consequences, evaluating their importance, treating risks by reducing likelihood or impact, monitoring risks continuously, and communicating regularly about risks. The risk management process establishes the context of a project, identifies risks, assesses them through qualitative or quantitative analysis, evaluates their importance, treats risks through options like avoidance or transfer, and monitors and reports on risks throughout a project.
UCISA Toolkit - Effective Risk Management for Business Change and IT Projects Mark Ritchie
Risk Management is one of the most important tools available to the Project Manager to help successfully deliver complex projects. Yet, at the same time, Risk Management can be difficult to understand and, if used without insight and expertise, costly and ineffective.
This guidance has been developed to assist staff who are managing or participating in IT and business change projects. It has been developed by the UCISA Project and Change Management Group and is based on best practice guidance provided by PRINCE2 and experience of delivering major IT and business change projects at the University of Sheffield, University of Edinburgh, Lancaster University and Edinburgh Napier University.
The guidance is relevant for projects being managed and delivered using any methodology and is complementary to the UCISA Major Project Governance Assessment Toolkit.
This toolkit was published by the UCISA Project and Change Management Group in December 2015.
The Bank of Punjab reported a net loss in 2013 due to higher provisioning against non-performing loans and investments. Provisions against bad debts increased significantly to Rs. 18.86 billion in 2013 from Rs. 1.61 billion in 2012. This led to a net interest income loss of Rs. 18.11 billion in 2013 compared to a net interest income of Rs. 1.71 billion in 2012. However, non-markup income declined slightly to Rs. 4.19 billion in 2013 from Rs. 5.44 billion in 2012. Overall, higher provisioning caused the bank to report a net loss in 2013 versus a net profit in 2012.
This document provides an overview of project risk management processes and techniques. It discusses the six key processes: (1) plan risk management, (2) identify risks, (3) perform qualitative risk analysis, (4) perform quantitative risk analysis, (5) plan risk responses, and (6) monitor and control risks. For each process, it describes important inputs, tools and techniques, and outputs to consider when managing project risks. The goal of risk management is to proactively identify and mitigate risks that could negatively impact a project.
This document provides an overview of project risk management processes and techniques. It discusses the six key processes: (1) plan risk management, (2) identify risks, (3) perform qualitative risk analysis, (4) perform quantitative risk analysis, (5) plan risk responses, and (6) monitor and control risks. For each process, it describes important inputs, tools and techniques, and outputs to consider when managing project risks. The goal of risk management is to proactively identify and mitigate risks that could negatively impact a project.
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Wouldn’t it be great if you could get to better ideas faster? If you learn to master just two thinking skills, you can! Many of the PMI supported tools have origins in creativity. As such, these tools are best leveraged when you apply divergent thinking (to generate) or convergent thinking (to narrow). This session will explore the principles of divergent and convergent thinking and provide examples of techniques to maximize their power in decision making, problem solving and performance feedback.
Project management course for MSc STUDENTS CHAPTER 1
M09_Risk Assessment ebook
1. Facilitation scenariosMajor project
Risk assessment
The project is underway. You can’t afford any surprises and
must start to prioritise and manage your risks. You need a solid
risk register to drive your work.
2. I came to appreciate technical risk while working as a chemical engineer in the steel industry. Yet it
was while studying for my MBA my perception of risk broadened substantially. I saw the power of
understanding not just technical risks but all the relevant project risks – and that there would be fewer
surprises. I could see that, as a team, we would know what to focus on and could develop plans in case
something went wrong.
Risk has now become part of mainstream business language and risk registers are living documents
and actively monitored. Sounds simple now but, in reality, all we had to do was decide to take risk
seriously, promote its value and provide active support and resources. And make a commitment to
lead from the front.
Once people own the risks, promises can be kept. Everyone knows what is important, projects are more
likely to be successful and the business itself will be more successful. Hope these tips will be useful for
you as a Manager.
Kanchana Bishop
Sensibly managing risk is central to every successful project because, to be effective, identifying risks and
managing them requires every team member to take ownership. It’s not an afterthought or a task you can
delegate to an individual team member, Risk has to be everybody’s business – every day.
In fact, risk is inherent in everything we do – whether at home in our daily lives or in the workplace as we
strive for success.
About the author
For updates on new scenariosand tools go to:www.trihelix.com.auFor further information on how we can
help your business achieve sustainableproject success contact:
Kanchana BishopEmail: kbishop@trihelix.com.au
I have worked across Energy, Mining, Infrastructure,
Engineering and Processing industries helping businesses
to use risk management innovatively and practically to
improve their business outcomes.
1 Introduction
3. Facilitation scenarios
These common facilitation scenarios are like recipes for project success.
They have been collected over many years and are now recommended as
part of most organisation's project lifecycle documentation.
Each scenario has a specific purpose, with detailed tools to help with their
execution. It is set out on a two-page spread that describes what, why
and how to use the scenario and lists tips and hints, typical duration and
the required tools necessary to deliver an effective workshop.
The tools within this facilitation scenario have been taken from the book
“Facilitating for success – A managers guide to projects”. The tools are
listed in order of use and hence the page numbers may not be sequential.
The book describes 41 facilitation scenarios just like this example. To
facilitate this scenario simply print these pages and plan and deliver
your own session.
Project success through leadership
Are you a technical manager who has always wanted to achieve project
success by becoming a highly effective leader?
Well this book is for you. It provides a simple, yet powerful step-by-step
methodology that will walk you through how to become a highly
effective leader.
In David’s third book he describes the Project Fundamentals an effective
leader must apply to deliver project success. The insights have been
collected over his long career and more recently through 70 interviews
with current managers.
What others have had to say about ‘Project success through leadership’...
“The book will appeal to those taking a step into project management, or
as a refresher for those in functional management positions, in providing
some practical improvement tools and leadership concepts to bring about
project success.” – Chief Executive Officer (CEO)
If you have always wanted to experience consistent project success, be a
highly effective leader, get interesting, challenging and rewarding work,
and realise your full potential, then this book is the answer.
About the book
Introduction 2
4. 43 Chapter 3 – Facilitation scenarios
A risk assessment workshop is designed to systematically identify possible risks to the project, understand their causes, and decide
on actions to minimise the risks and protect our business or project.
The outcome is a list of prioritised risks with actions specifically to manage the threats to our project and maximise the opportunities.
Why use it?
Risks affect all aspects of our work and their consequences can be both positive and negative. As risks are part of day to day work
and unavoidable, our success will be based on how well they are analysed and managed. A risk assessment workshop ensures that
the team identifies these risks, both threats and opportunities. They then evaluate these risks by assessing their consequence and
likelihood to establish the critical risks to our project. Actions are created to effectively manage the critical threats and maximise
the critical opportunities.
A risk assessment can also provide a project risk profile that can be compared with other projects which consequently helps with
investment decisions. Individual risk profiles can also be created to compare various options within a project to assist in selecting
which option should be investigated further.
A risk assessment can also help us protect our project plan by identifying possible risks (resource shortage and approval delay) in
advance and create actions to manage the risk. These actions are then budgeted, resourced, scheduled and incorporated into an
overall project plan. This ensures they get done and increase the likelihood of our project being completed on time, within budget,
and meeting the required performance specifications.
Typical health and safety risk assessment rating table
The key to risk
management is to prioritise
and focus on the critical
risks. Manage these risks
well and our project will
remain on track with very
few surprises.
How should I use it?
Pre-work:
1. Work with the project sponsor to design and plan the workshop using the planning tools
2. Create a workshop communications deck including the project objectives at risk, the risk analysis assumptions (what's in and
out), risk assessment success factors and ask the sponsor to send it to the participants; this raises the importance of the activity
3. Establish a risk threshold; risks that exceed this must be evaluated and have actions assigned
4. Establish a risk structure; when identifying risks they will be categorised using the structure
5. Create workshop posters, the risk register template and arrange a scribe to be ready for the workshop.
Risk assessment
Likelihood of
injury or harm
to health
Consequences of any injury or harm to health
Insignificant
e.g., no harm
Moderate
e.g., first aid
Major
e.g., extensive injuries
Catastrophic
e.g., death
Very likely High Extreme Extreme Extreme
Likely Moderate High Extreme Extreme
Moderate Low High Extreme Extreme
Unlikely Low Moderate High Extreme
Highly Unlikely Low Moderate High High
Risk Rating Table
Extreme = immediate action
5. 44Chapter 3 – Facilitation scenarios
The workshop steps:
1. Bring everyone onto the same page using the SPACER tool
2. Provide a common understanding of the project background
3. Review the project objectives, risk analysis assumptions and success factors
4. Provide a common understanding of the risk analysis process
5. Identify risks using the risk structure and channel brainstorming
6. Identify at a high level which risks exceed the project risk threshold
7. For the risks that exceed the threshold:
• Identify the causes, impacts and existing controls
• Evaluate the likelihood and consequence of each risk using the organisation's risk rating table
• Identify risk owners and risk mitigation actions
8. Document the next steps to be completed outside the workshop including risk reporting and risk updates including
communicating the outcomes
9. Wrap up the workshop and capture feedback using the plus/deltas tool.
Post workshop:
1. Nominated scribe to populate the risk register during the workshop
2. Facilitator to finalise the risk register
3. The sponsor is to validate the risk register and issue to the project team
4. Project team to execute the risk actions, complete risk reporting and complete updates as required.
Tips and hints:
• The risk structure can be tailored to focus the analysis. For example there are many different risk structures including HSEC
risks, technical risks, compliance risks and project lifecycle stage risks. Work with the sponsor to choose the best structure for
the risk analysis.
• The risk threshold helps us to focus on the critical risks only. For example, a risk threshold is shown in the graphic where
an extreme risk requires immediate action. Work with the sponsor to establish this cut off point (risk threshold) using the
organisation's risk rating table.
• When evaluating a number of options as part of a risk assessment, it is important to flag which option is affected by which
risk to enable individual risk profiles that can allow comparison of options.
• Documenting the risk register can take significant time. It is necessary to get it right so people outside the workshop will
understand the risk meaning and prioritisation.
Tools used:
All facilitation style toolsAll workshop planning toolsCommunications deck toolWhat's in/out of scope toolChannel Brainstorming toolCommunication plan tool
Facilitation Technical AcceptanceRefer to 'project success tools at a glance'on page 246
Duration:
The length of the workshop will depend on the size of the
project. Good workshop planning and pre-work will reduce
the workshop duration as the team are more focused.
A major project will require 8 hours for an initial project risk
workshop and then similar sessions to focus on HSEC and
technical risks.
A minor project will need half the time as the scope and
numbers of people involved are less.
6. 213 Chapter 6 - The facilitation work
A communications deck is a brief document that helps participants to understand the workshop purpose and logistics. The
outcome is a one page document that describes the workshop purpose, workshop process, next steps after the workshop, agenda,
venue location and timing.
Why use it?
Often people are invited to a workshop and do not know why they are there. The invitation comes out the day before and the
location is not clear and people turn up late. This sets the workshop off on the wrong foot and wastes valuable time. Sending a well
thought out communications deck ensures the participants are informed and know what is expected of them.
The process of building this communications deck with your sponsor brings significant alignment around what the workshop is trying
to achieve. Asking what we are doing, why we are doing it and where we want to be at the end of the workshop forces your sponsor
to clarify their own thinking. This clarity will then drive the workshop design, who should attend and how long the session should be.
How should I use it?
1. Work with the project sponsor to create a workshop elevator speech
2. Based on these discussions build a "case for change" to position the workshop as part of a larger effort
3. Describe the workshop process that will achieve the outcomes
4. Document a high level workshop agenda with max five to seven topics, include start and finish times and lunch
5. Describe what happens next with the workshop outcomes building from the case for change
6. Document the name and address of the workshop venue and key contact name
7. Compile this into a one pager and validate with your sponsor
8. Mark up any changes and your sponsor can then send this out with a personal invitation to communicate the importance
of the workshop.
Tips and hints:
• Often it is best for your sponsor to send out a place holder early in the workshop planning to lock in some dates and
understand people's availability
• Once the communications deck is prepared then the sponsor can send this closer to the workshop date (5 days before) to
confirm all the details and re-engage the participants
• Do not underestimate the value of building this deck as it helps your sponsor think through what is important.
• Once you have built your first communications deck it can become a template and be modified for each workshop
you facilitate..
Communications deck
7. 122Chapter 4 – The technical work
What's in and out of scope is designed to jointly identify the scope and project boundaries.
The outcome is a list of topics that clearly define the scope.
Why use it?
Completing an improvement project can be very complex and time consuming. It is vital that the boundaries and scope is locked
in at the start of the project. This ensures everyone is on the same page and all understand the task at hand. It is important to
recognise that people will not always like what's in and out of scope as they may be directly affected by the changes the project
may deliver.
When developing what's in and out of scope, the objective is to surface all the focus areas to the top and eliminate distracting
topics from the scope. Pay special effort to what's out of scope, people generally do not want to take scope out of a project.
How should I use it?
What's in/out of scope should be developed jointly with the project sponsor and then validated over a number of weeks with the
people involved in the project. The basic steps include:
1. Actively listen to the sponsor during informal discussions. As the task is being defined develop a mental map of what's in/out
of scope – jot these down on a notepad.
2. Once five to seven high level topics are identified for what's in and what's out, put these on stickers and build a poster. Test
these with the sponsor and key stakeholders. Seek feedback and update as required.
3. At this point the what's in/out of scope poster is a draft. Arrange a time to review the topics with the project team.
4. This will generate powerful conversations as the team discuss and interpret the topics. It is okay to add or modify topics as
this builds strong ownership.
5. Share this poster with the broader stakeholders to test their understanding. Actively listen to their concerns and clarify
the topics.
6. The what's in/out poster will always be a work in progress. As people become involved in the project they will test and
continue to refine the scope.
Tips and hints:
• The what's in/out of scope poster is a key alignment and communication tool and should always be jointly developed. The
process enables informal discussions as people jointly agree on the scope.
• Make the topics short and concise, the conversation will help to align their intent.
Do not underestimate its value
– clearly defining what's in/out
of scope will set people's mind
at ease and allow them to know
where they stand (even though
they may not like it).
What's in and out scope poster
Topic
What's in? What's out?
What's in/out of scope
8. 220Chapter 6 - The facilitation work
Channel brainstorming is collecting ideas within pre-conceived categories. The output is a list of ideas already categorised.
Why use it?
When brainstorming the outcome is often a mixture of higher and lower level ideas. Some of these lower level ideas are actually
a subset of the higher level ideas, although this is not always obvious. To make sense of the ideas, one process is to affinity group
them under the high level ideas. Channel brainstorming short circuits this process and groups the ideas under predefined categories
along the way. This can save time and enable the group to focus on the lower level ideas. Channel brainstorming is also great for
group work as the participants can be divided according to the number of categories ensuring everyone is engaged.
How should I use it?
Start this variation of brainstorming by listing the categories of improvement ideas. Brainstorm ideas for the first category and
when the ideas slow, 'change channels' and brainstorm the next category. From the completed lists, then select the ideas which
have the greatest potential for improvement.
Tips and hints:
• The fishbone diagram, or cause and effect chart, is one example where categories such as machinery/equipment, people,
methods and materials can be predefined. Simply brainstorming around these categories will produce many ideas that can be
explored to an even lower level of detail.
• Be aware that selecting categories may cause you to miss something. When looking for 'out of the box' thinking, this
technique may restrict ideas.
• Combining channel brainstorming with brainwriting within groups produces a powerful process which can generate and group
many ideas very quickly.
Channel brainstorming
Fishbone diagram use for channel brainstorming
9. 175 Chapter 5 – Acceptance work
A communication plan is a key tool to build acceptance. The plan identifies the target audience, the message, how the message will
be conveyed, the deliverer and when the message will be communicated. The output is a list of actions to build acceptance through
focused communication.
Why use it?
Successful change never assumes people know about the change. It also does not assume that the technical solution is a given
and people will automatically get on board. Change is much more difficult and requires constant ongoing communication to keep
people engaged and involved. Communication needs to be clear and concise and be targeted to the stakeholder's needs. A sound
communication plan must articulate the vision and prevent confusion.
How should I use it?
Pre-workshop, mark up a communication plan matrix poster. Clearly identify what change we have to make using the mapping the
change tool. Write this statement on top of our matrix to draw our focus to the change.
As a group answer the following questions, capture thoughts on stickers and place them on the communication plan matrix:
• Who must be communicated with?
• What do they need to know?
• When and how often do they need to know it?
• How can it be communicated so that we can be sure the communication is received?
• Who is responsible for the communication?
Tips and hints:
• Use the Stakeholder analysis tool to identify who must be communicated with
• Use the prompts in the Engagement Strategy tool to explore what concerns, interests and wins could influence the
stakeholders
• Use the prompts in the FAST matrix tool to ensure the message appeals to the audience and considers facts,
stories and telling.
Communication plan poster – a guide
Audience Message Timing Medium Who
Communication plan
10. Major project
scenarios
Project initiation
Project planning
User Requirement Specification
Project alignment
Opportunity framing
Scoping workshop
Study document planning
Options Analysis
Tollgate Reviews
Critical decision analysis
Operational readiness plan
Alternative pathways
Value engineering
Contracting and procurement strategy
Design reviews
Maintainability review
Failure modes and effects analysis
Commissioning plan
Business improvement
projects
Improvement methodology
scenarios
Project definition
Top 10 improvements
Analyse opportunities
Implementation planning and delivery
Institutionalise benefits
Day to day improvement
scenarios
Strategy development
Creative thinking and Innovation
Productivity improvement
Business evaluation
Guideline development
Business planning
Failure modes and effects analysis
Root Cause Analysis
All these facilitation scenarios can be found in the
“Facilitating for success – A managers guide to
projects’ second edition” book.
Refer to www.trihelix.com.au to see a video on
some of these scenarios.
For a copy of a scenario please contact us at
info@trihelix.com.au.
Risk
management
Hazard ID
Risk assessment
Environmental Impact Statement (EIS)
validation
HAZOP
Constructability review
Construction risk
Lessons leant