Ratneshwar jha risk analysis and mitigation precedence modeling
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The document proposes a new risk analysis and mitigation model. The current model prioritizes risks based only on risk exposure but the proposed model considers additional factors like risk interdependencies, influence factors, and mitigation exposure over time. The proposed model involves 4 phases: 1) analyzing risk influence factors, 2) generating a risk network through dependency analysis, 3) prioritizing mitigation based on exposure and dependencies, and 4) analyzing mitigation variance over time. The benefits of the proposed model are that it provides a clearer prioritization of risks, better predictability, a more robust mitigation plan, and is more futuristic than the current model.
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![Risk Analysis And Mitigation Precedence Modeling Agenda Present Risk Models Proposed Risk Model - Assumption Various Phases of Proposed Model Risk Influence Factor Analysis Risk Discovery Phase Mitigation Prioritization Risk Variance With Time ,[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Final Class Presentation on Determining Project Stakeholders & Risks.pptx
“A person or group of people who have a vested interest in the success of an organization or project and the environment in which the organization/ project operates”
Use of Causeand Effect Diagrams for Risk Management
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Pmp risk chapter 11
The document discusses project risk management. It covers the processes of planning risk management, identifying risks, performing qualitative and quantitative risk analyses, and planning risk responses. The key processes involve developing a risk management plan, identifying and prioritizing risks through analysis of their probability and impact, analyzing risks numerically using various techniques, and creating options to reduce threats and enhance opportunities.
Project Risk Management
This document discusses project risk management for an IT project management course. It defines risk management and identifies key risk management processes: planning, identification, analysis, response planning, and monitoring/control. Various risk analysis techniques are described like probability/impact matrices and decision trees. The goal of risk management is to minimize negative risks while maximizing positive opportunities through risk avoidance, acceptance, transference, or mitigation strategies.
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Managing Project Risk: Risk Strategies
Accept/Ignore
Avoid Risk
Reduce Likelihood
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Risk Management
1. Project risk management involves identifying, analyzing, and responding to risks throughout the project lifecycle to meet objectives.
2. Key steps include risk management planning, identification, qualitative analysis using techniques like probability/impact matrices, quantitative analysis using decision trees and expected monetary value, response planning, and monitoring and control.
3. Software tools can assist with creating risk registers and conducting quantitative analysis, while the overall goal is to run projects smoothly so risk management efforts go unnoticed.
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This document discusses risk management for projects. It defines project risk and different risk types. It outlines the risk management plan and process, including risk identification, qualitative and quantitative analysis, and developing responses. The risk register is used to document risks, analyses, and responses. Contingency plans and reserves help mitigate risks. Risk management involves processes to identify, analyze, and respond to project uncertainties.
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This document discusses risk management in major projects. It defines risk and outlines the risk management process. This includes identifying risks, analyzing their potential impacts, and developing responses to mitigate negative impacts and maximize positive ones. Key steps involve identifying risks, assessing their impacts, running simulations to evaluate scenarios, and interpreting the results, which can indicate the probability of costs and the most influential risks. Risk management tools and establishing risk owners are also covered.
Risk Management
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.
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Project Management C7 -risk_management
Risk management involves identifying, analyzing, and responding to risks throughout a project's lifecycle to help achieve project objectives. It includes identifying potential risks, assessing their probability and impact, developing mitigation strategies, monitoring risks, and documenting the process. The key aspects of risk management covered in the document are defining risk, identifying common risk categories, assessing and prioritizing risks, developing mitigation plans, and establishing principles for an effective risk management process.
PMP Preparation - 11 Risk Management
لمشاهدة ملفات الفيديو
https://www.youtube.com/watch?v=Yq3nz9YaaUU&index=23&list=PL0CTRdzzWSMuvJ9nKHzyxGAYCapJMQ8_Y
للمتابعة في جروب المذاكرة
https://www.facebook.com/groups/PMP.SG
Risk mgt 07.pptx
The document discusses project risk management and outlines key concepts. It defines project risk and describes the four stages of risk management: risk identification, analysis of probability and consequences, risk mitigation strategies, and control and documentation. Various qualitative and quantitative risk management methods are also presented, such as decision tree analysis and simulation. The document concludes with an overview of the Project Risk Analysis and Management (PRAM) process, which provides a generic methodology for project risk management.
PROJECT RISK MANAGEMENT.pdf
Project risk management involves identifying potential risks, analyzing their likelihood and impact, and developing responses to address threats and opportunities. The key processes include planning risk management, identifying risks, performing qualitative and quantitative risk analyses to prioritize risks, and planning risk responses. Qualitative analysis involves assessing probability and impact, while quantitative analysis uses numerical methods to evaluate risk exposure and determine contingency reserves. Risks are continually monitored and the risk register updated throughout the project life cycle.
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This document summarizes an upcoming presentation on ethics versus business interests in project management. The presentation will use case studies and examples from professional forums to illustrate common ethical dilemmas project managers may face at different stages of a project's lifecycle. It will also discuss how ethical standards may vary in different regions and industries. The goal is for project managers to learn how to recognize and address potential ethical issues so they are prepared to handle similar situations in the future.
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This document discusses achieving delivery excellence in projects. It defines delivery excellence as going beyond just quality to be "extremely good". It identifies critical success factors for delivery excellence like customer satisfaction, employee satisfaction, and business growth. It also discusses key metrics for measuring delivery excellence like revenue growth, customer satisfaction levels, and defect density. Finally, it recommends tools and techniques for organizations to achieve delivery excellence, such as innovation, automation, and competency development.
Trn 10
The document discusses a new project management trend called Globally Distributed Delivery Model (GDDM). GDDM involves managing projects with teams located across multiple locations, time zones, cultures and service providers. The key challenges of GDDM include effective communication, collaboration and cultural differences across distributed teams. Some strategies to overcome these challenges are establishing clear communication frequencies and methods, developing trust among team members, and understanding cultural differences. The document provides best practices for project managers to successfully execute GDDM projects.
Trn 11
This document provides a case study of a successful project delivery by Tata Consultancy Services (TCS) as the System Integrator for a telecom company. The project involved developing systems to launch new fixed mobile convergence services within an aggressive 12 week timeline. TCS faced challenges with the tight schedule, evolving requirements, and dependencies on multiple vendors. To overcome these, TCS adopted an agile approach with MoSCoW prioritization, time-boxed delivery waves, robust governance of vendors, and active stakeholder management. These practices helped TCS deliver the project on budget and meet the client's timelines, demonstrating effective project management.
Trn 09
This document discusses proven practices for measuring learning impact. It explores eight initiatives for measuring learning that can demonstrate impact, including turning satisfaction surveys into predictive data, using the human capital approach to estimate performance change, and leveraging business impact templates. The challenges of demonstrating business impact, reducing "scrap learning", and measuring informal learning are also addressed.
Trn 08
The document discusses how emerging economies, the financial crisis, and Generation Y are changing the face of project management. It provides tips on how project managers can adapt to these changes, such as gaining knowledge of local business models in emerging economies and using agile approaches. It also presents a case study of how a project manager dealt with an existing project being opened to bidding due to the financial crisis. The document advocates that project managers embrace continuous improvement, generate peer pressure for accountability, and adopt an innovation framework to adapt to the changing project management landscape.
Trn 07
This document discusses bridging the gap between traditional project management and the expectations of the "Facebook generation". It proposes adapting a new management style focused on transparency, value creation, and flattening hierarchies. Specifically:
1) The "Mirror-Mirror" concept helps managers understand their starting point and focus areas for improvement to achieve goals.
2) Emphasis is placed on winning stakeholder confidence through transparency.
3) Managers think long-term and include more people in planning for transparency.
4) Multiple solutions are explored during execution to maximize value for all parties.
Trn 06
The document discusses the challenges of managing multi-country projects and proposes an approach using abstract and agile scheduling. It highlights difficulties like budget forecasting, resource management, and tracking across locations. The approach uses an abstract schedule for high-level planning and portfolio management, with agile detailed schedules managed quarterly by teams. Collaboration is enabled through a web tool for tasks, time tracking, documents and issues. This framework aims to provide simplicity and visibility while allowing flexibility.
Trn 05
This document discusses project dynamics, an emerging approach to understanding the complex dynamics of projects over time. It discusses how project dynamics can be applied to (1) understand features of projects like activities, phases and interdependencies, (2) model rework cycles and their compounding effects, and (3) evaluate the intended and unintended consequences of project control strategies. The document argues that applying a project dynamics approach can provide new insights to improve project management practices.
Trn 04
The document discusses delegating project management tasks from project managers to team members in order to improve organizational efficiency. Currently, project managers typically handle all project management tasks themselves. This leads to higher costs, lower team motivation, and missed opportunities. The document proposes a solution where project managers delegate appropriate project management tasks to team members. This would reduce costs by utilizing resources more efficiently. It would also increase team member motivation and involvement. The document addresses some concerns about this approach and provides recommendations for implementation at different organizational levels.
Trn 03
The document discusses sustainability in project management. It explores how sustainability relates to projects and project management. Key points include:
1) Sustainability involves balancing economic, social, and environmental factors over both the short and long term.
2) Project managers may have responsibility for sustainability aspects of projects and their outcomes.
3) Considering sustainability requires looking at a project's full lifecycle as well as the lifecycles of its outcomes and any associated products or assets.
Trn 02
The document discusses strategies for companies to achieve growth with existing resources through effective portfolio management. It finds that high growth companies expand sales channels while slower companies focus on cost reduction. Implementing portfolio management allows selecting the right projects and optimizing resource allocation. Benefits include increased effectiveness, reduced costs, and higher profits without additional investments. The key is to identify constraints, match capacity and pipeline, and select platforms that provide competitive advantage and accelerate innovation.
Trn 01
The document discusses the role of a Strategic Program Management Office (PMO) in managing organizational transformation. It describes what a Strategic PMO is and the framework it uses, including establishing a vision, mission, and work streams. It then discusses the structure of a Strategic PMO and its lifecycle. Finally, it provides examples of Strategic PMOs that were implemented to manage a merger integration, transition to a shared global delivery model, and drive innovation through centers of excellence.
Trn 12
This presentation discusses how project managers can incorporate social media tools like Twitter, Facebook, LinkedIn, and blogs into project communication and management. It explores how tools like these have changed communication from restricted exchanges to more open and collaborative interactions. The presentation also addresses challenges with social media like distraction and loss of productivity, and suggests ways for project managers to develop social media policies and guidelines for their teams.
Sps 01
This document discusses a business model for providing renewable energy to rural communities through partnerships between various stakeholders. The key stakeholders identified are village communities, NGOs, microfinance institutions, original equipment manufacturers, and government/state bodies. The model aims to improve rural livelihoods and alleviate poverty by providing energy access and creating new income opportunities through microloans to fund the installation of renewable energy technologies. Challenges and opportunities of this model are also analyzed.
Sft 03
This document provides an overview of how tools from psychology can be applied to improve project management. It discusses the Myers-Briggs Type Indicator (MBTI) personality assessment and describes two personality types: ENFP and ISTJ. It also summarizes Rational Emotive Behavior Therapy (REBT) and how modifying beliefs can impact consequences. The document suggests project managers would benefit from understanding these psychological tools to improve team dynamics and expectations management.
Sft 02
The document presents the Influential and Inspirational Powers (IIP) model, a new self-evaluation tool for project managers. The IIP model maps levels of influence and inspiration on a grid with four quadrants based on two situations: 1) how team members are influenced and inspired by the project manager, and 2) how the project manager is influenced and inspired by the team. The tool is meant to help project managers identify strengths, weaknesses, and ways to improve team motivation, productivity, and innovation. A survey of project stakeholders provided initial support for the model.
Sft 01
This document discusses strategies for managing everyday conflicts at work. It suggests that minor unresolved conflicts can lead to major losses in productivity, satisfaction and focus within teams. Conflict is inevitable in team environments but can be minimized through awareness and effective conflict resolution strategies. The document explores how individual personality traits and interpersonal skills influence conflicts, and provides models for resolving conflicts at different levels from individual to team to organizational.
Sft 04
This technical paper explores the importance of soft skills like leadership for project managers. It discusses how leadership is crucial for project success as it helps integrate team members and motivate them. The paper outlines different leadership styles and techniques for developing leadership skills, including coaching and mentoring. Effective coaching and mentoring through situational leadership can help individuals and teams achieve their goals while also benefiting the overall organization.
Rsc 06
The document discusses the need to tap into the power of informal project management techniques. It proposes a methodology to identify exemplary historical informal projects in India and analyze them to develop a database of proven informal techniques. This would help bridge gaps in formal project management education. A survey found most essential project management skills can be developed through both informal and formal means.
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- 1. Risk Analysis And Mitigation Precedence Modeling RatneshwarJha 20 Nov 2010
- 3. Present Risk Analysis Model Present model : Prioritized based on risk exposure Risk exposure: Impact & Probability on Project Answer to question “Would we care?” Risk Attributes : Subjective and Non-quantifiable Low Motivation in team, Skills, Performance, Satisfaction Present Risk Model : Fails in case of same Risk Exposure Doesn’t include inter-dependencies between risks Unable to predict risk /mitigation behavior in future Partially answers “Would we care?” analogy Risk Analysis And Mitigation Precedence Modeling
- 9. Risk priority at any time.Risk Analysis And Mitigation Precedence Modeling
- 12. Widely used in social /medical risk management
- 13. Human Resource: Salary, Location of work, Higher Studies
- 14. Best represented by Bayesian Networks where a risk node is assumed as child node and RIFs as parent nodes affecting.
- 15. P(R) = P(R | PA(R) )
- 16. “The more influential are the RIFs on a risk category, the more is the chances of risk occurrence in that category.”Risk Analysis And Mitigation Precedence Modeling
- 18. “What-If” for a risk category Answer to “Why” Properly identify the risk attributes New Risk Identified. Phase 2: Risk Network Generation Risk discovery: Starts from conceptualization and ends till Go-Live Iteratively and frequently revisited Frequency depends in project health Risk Discovery Variants: What-If and Why scenarios Risk Dependency analysis What –If And Why Scenarios: What –If generates potential fault point in project Why validate the above fault points Risk Analysis And Mitigation Precedence Modeling
- 20. Risk’s strength get affected by other dependent risks
- 21. Use to discover new potential risks
- 22. Use to prioritize risk mitigationRisk Analysis And Mitigation Precedence Modeling
- 23. Phase 2: Risk Network Generation Graphical diagram of Risk tree Risk Network Tree Formation The dependent risk forms risk network tree structure with the child risk as root. In a project , suppose following risks are identified: R1: Not having sufficient license for engineering tool R2: Engineering skills is low R3: Schedule commitment looks aggressive. R1 is affecting risk R2 and R3 and R2 is affecting risk R3. R3 R2 R1 Risk Analysis And Mitigation Precedence Modeling
- 27. Phase 3: Risk Mitigation Prioritization Mitigation Exposure: Defines the overall drive to mitigate a given risk. Average of the C.B.T and T.E factors involved. M.E = (C.B.T + T.E)/2 Alone Mitigation Factor (A.M.F): Represents the individual mitigation priority that a risk alone carries. A.M.F (R) = R.E * M.E Risk Analysis And Mitigation Precedence Modeling
- 28. Phase 3: Risk Mitigation Prioritization Total Mitigation Factor (T.M.F): The Alone Mitigation Factor (A.M.F) is calculated without considering risk dependencies. Total Mitigation factor for a risk node takes risk dependencies into picture T.M.F(R) = A.M.F(R)+C (R|PA(R))* T.M.F (PA(R)) On the basis of T.M.F factor of risks, risk are prioritized for mitigation. Dependency Factor: C(R|PA(R)) = P(R | PA(R)) * ( IR/ (IR+IPA(R)) ) v Risk Analysis And Mitigation Precedence Modeling
- 31. Risk Mitigation Analysis Analyzing R2 mitigation variance Analyzing all risks together Risk Analysis And Mitigation Precedence Modeling
- 33. Benefits Of Proposed Model Proposed Model Presents a clear picture to prioritize risk when the risk exposures are similar. It has better predictability for risk. Hence the project can be planned in more better way. Provides better mitigation prioritization and hence, offers better mitigation plan. Current Model Fails to prioritize the risk when risk exposures are similar. Does not offer predictability hence planning business or project is a little difficult with this approach. It is not so robust and futuristic as it does not take various parameters in consideration. Risk Analysis And Mitigation Precedence Modeling
- 34. THANK YOU Risk Analysis And Mitigation Precedence Modeling