This document discusses project risk management. It defines project risk as an uncertain event that may positively or negatively impact project objectives. There are various types of risks including external risks outside a manager's control, cost risks, schedule risks, technology risks, and operational risks. The document outlines qualitative and quantitative approaches to risk analysis and describes methods for risk identification, response planning including risk avoidance, transfer, mitigation and acceptance, monitoring and control. Regular risk management is important to identify uncertainties and minimize their impacts to help projects meet their objectives on time and on budget.
RISK MANAGEMENT IN CONSTRUCTION PROJECTS AS PER INDIAN SCENARIOIAEME Publication
Construction industry is highly risk prone, with complex and dynamic project
environments creating an atmosphere of high uncertainty and risk. The industry is
vulnerable to various technical, sociopolitical and business risks. The track record
to cope with these risks has not been very good in construction industry. As a
result, the people working in the industry bear various failures, such as, failure of
abiding by quality and operational requirements, cost overruns and uncertain delays
in project completion. In light of this, it can be said that an effective systems of risk
assessment and management for construction industry remains a challenging task
for the industry practitioners. The aim of the this research is to identify and evaluate
current risks and uncertainties in the construction industry through extensive
literature survey and aims to make a basis for future studies for development of a
risk management framework to be adopted by prospective investors, developers and
contractors
In this presentation we look at approach of analyzing risks, we get into details of qualitative risk analysis and quantitative risk analysis. This presentation will help professionals who are preparing for PMP certification exam
RISK MANAGEMENT IN CONSTRUCTION PROJECTS AS PER INDIAN SCENARIOIAEME Publication
Construction industry is highly risk prone, with complex and dynamic project
environments creating an atmosphere of high uncertainty and risk. The industry is
vulnerable to various technical, sociopolitical and business risks. The track record
to cope with these risks has not been very good in construction industry. As a
result, the people working in the industry bear various failures, such as, failure of
abiding by quality and operational requirements, cost overruns and uncertain delays
in project completion. In light of this, it can be said that an effective systems of risk
assessment and management for construction industry remains a challenging task
for the industry practitioners. The aim of the this research is to identify and evaluate
current risks and uncertainties in the construction industry through extensive
literature survey and aims to make a basis for future studies for development of a
risk management framework to be adopted by prospective investors, developers and
contractors
In this presentation we look at approach of analyzing risks, we get into details of qualitative risk analysis and quantitative risk analysis. This presentation will help professionals who are preparing for PMP certification exam
Introduction to Risk assessment and management. What is risk assessment and management? How to evaluate risk and how to analyze risk? What is the necessity of risk assessment and management? What are the basic steps for risk assessment and management?
Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters.
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The above presentation talks about the risk involved in any project. The project risk identification, quantification, response and its control is also thoroughly explained.
This complete presentation has a set of thirty two slides to show your mastery of the subject. Use this ready-made PowerPoint presentation to present before your internal teams or the audience. All presentation designs in this Risk Analysis PowerPoint Presentation Slides have been crafted by our team of expert PowerPoint designers using the best of PPT templates, images, data-driven graphs and vector icons. The content has been well-researched by our team of business researchers. The biggest advantage of downloading this deck is that it is fully editable in PowerPoint. You can change the colors, font and text without any hassle to suit your business needs.
Project risk analysis methodology and how RiskyProject software can be used for quantitative project risk analysis.
For more information how to perform schedule risk analysis using RiskyProject software please visit Intaver Institute web site: http://www.intaver.com.
About Intaver Institute.
Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise.
Risk Management Process And Procedures PowerPoint Presentation SlidesSlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of thirty one slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed Risk Identification Powerpoint Presentation Slides complete deck.
Develop options and determine actions to enhance opportunities and minimize threats to Departments/project objectives.Assign responsibility to individuals or parties for each risk response.
Introduction to Risk assessment and management. What is risk assessment and management? How to evaluate risk and how to analyze risk? What is the necessity of risk assessment and management? What are the basic steps for risk assessment and management?
Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters.
what is the definition of risk management
risk management services
risk management certification
risk management for project management
risk management terms
celgene risk management
risk management framework
risk management jobs
business research topics for mba
mba topics for presentation
mba project topics
mba research topics in management
dissertation topics for mba
mba finance research topics
mba topics on strategic management
thesis topic for mba
The above presentation talks about the risk involved in any project. The project risk identification, quantification, response and its control is also thoroughly explained.
This complete presentation has a set of thirty two slides to show your mastery of the subject. Use this ready-made PowerPoint presentation to present before your internal teams or the audience. All presentation designs in this Risk Analysis PowerPoint Presentation Slides have been crafted by our team of expert PowerPoint designers using the best of PPT templates, images, data-driven graphs and vector icons. The content has been well-researched by our team of business researchers. The biggest advantage of downloading this deck is that it is fully editable in PowerPoint. You can change the colors, font and text without any hassle to suit your business needs.
Project risk analysis methodology and how RiskyProject software can be used for quantitative project risk analysis.
For more information how to perform schedule risk analysis using RiskyProject software please visit Intaver Institute web site: http://www.intaver.com.
About Intaver Institute.
Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise.
Risk Management Process And Procedures PowerPoint Presentation SlidesSlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of thirty one slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed Risk Identification Powerpoint Presentation Slides complete deck.
Develop options and determine actions to enhance opportunities and minimize threats to Departments/project objectives.Assign responsibility to individuals or parties for each risk response.
NCV 4 Project Management Hands-On Support Slide Show - Module5Future Managers
This slide show complements the Learner Guide NCV 4 Project Management Hands-On Training by Bert Eksteen, published by Future Managers. For more information visit our website www.futuremanagers.net
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Episode 25 : Project Risk Management
Understand what risk is and the importance of good project risk management.
Discuss the elements involved in risk management planning and the contents of a risk management plan.
List common sources of risks in engineering and information technology projects.
Describe the risk identification process, tools, and techniques to help identify project risks, and the main output of risk identification, a risk register.
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
Final Year Project Report on Structural Analysis and Design of Multistorey RCC Building for Earthquake Resistant Design as per IS Codes. - Khwopa College of Engineering - IOE, Tribhuvan university - Civil Engineering Final Report - Bachelor Level Project
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Final project report on grocery store management system..pdfKamal Acharya
In today’s fast-changing business environment, it’s extremely important to be able to respond to client needs in the most effective and timely manner. If your customers wish to see your business online and have instant access to your products or services.
Online Grocery Store is an e-commerce website, which retails various grocery products. This project allows viewing various products available enables registered users to purchase desired products instantly using Paytm, UPI payment processor (Instant Pay) and also can place order by using Cash on Delivery (Pay Later) option. This project provides an easy access to Administrators and Managers to view orders placed using Pay Later and Instant Pay options.
In order to develop an e-commerce website, a number of Technologies must be studied and understood. These include multi-tiered architecture, server and client-side scripting techniques, implementation technologies, programming language (such as PHP, HTML, CSS, JavaScript) and MySQL relational databases. This is a project with the objective to develop a basic website where a consumer is provided with a shopping cart website and also to know about the technologies used to develop such a website.
This document will discuss each of the underlying technologies to create and implement an e- commerce website.
NO1 Uk best vashikaran specialist in delhi vashikaran baba near me online vas...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
Learn about the cost savings, reduced environmental impact, and minimal disruption associated with trenchless technology. Discover detailed explanations of popular techniques such as pipe bursting, cured-in-place pipe (CIPP) lining, and directional drilling. Understand how these methods can be applied to various types of infrastructure, from residential plumbing to large-scale municipal systems.
Ideal for homeowners, contractors, engineers, and anyone interested in modern plumbing solutions, this guide provides valuable insights into why trenchless pipe repair is becoming the preferred choice for pipe rehabilitation. Stay informed about the latest advancements and best practices in the field.
Industrial Training at Shahjalal Fertilizer Company Limited (SFCL)MdTanvirMahtab2
This presentation is about the working procedure of Shahjalal Fertilizer Company Limited (SFCL). A Govt. owned Company of Bangladesh Chemical Industries Corporation under Ministry of Industries.
Student information management system project report ii.pdfKamal Acharya
Our project explains about the student management. This project mainly explains the various actions related to student details. This project shows some ease in adding, editing and deleting the student details. It also provides a less time consuming process for viewing, adding, editing and deleting the marks of the students.
Cosmetic shop management system project report.pdfKamal Acharya
Buying new cosmetic products is difficult. It can even be scary for those who have sensitive skin and are prone to skin trouble. The information needed to alleviate this problem is on the back of each product, but it's thought to interpret those ingredient lists unless you have a background in chemistry.
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Data file handling has been effectively used in the program.
The automated cosmetic shop management system should deal with the automation of general workflow and administration process of the shop. The main processes of the system focus on customer's request where the system is able to search the most appropriate products and deliver it to the customers. It should help the employees to quickly identify the list of cosmetic product that have reached the minimum quantity and also keep a track of expired date for each cosmetic product. It should help the employees to find the rack number in which the product is placed.It is also Faster and more efficient way.
Immunizing Image Classifiers Against Localized Adversary Attacksgerogepatton
This paper addresses the vulnerability of deep learning models, particularly convolutional neural networks
(CNN)s, to adversarial attacks and presents a proactive training technique designed to counter them. We
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the immunity of models against localized universal attacks by up to 40%. We evaluate our proposed approach
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and CIFAR-100) and ImageNet Large Scale Visual Recognition Challenge (ILSVRC12) datasets, showcasing
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Overview of the fundamental roles in Hydropower generation and the components involved in wider Electrical Engineering.
This paper presents the design and construction of hydroelectric dams from the hydrologist’s survey of the valley before construction, all aspects and involved disciplines, fluid dynamics, structural engineering, generation and mains frequency regulation to the very transmission of power through the network in the United Kingdom.
Author: Robbie Edward Sayers
Collaborators and co editors: Charlie Sims and Connor Healey.
(C) 2024 Robbie E. Sayers
2. Introduction
A project risk is an uncertain event that may or may not occur during a project. If it
occurs it has a positive or negative effect on a project objective.
The notion of project risk involves two concepts:
I. The likelihood that some problematic event will occur.
II. The impact of the event if it does occur.
3. Types of Project Risk
A. External risk:
Mainly outside the control of the project manager and in most case the organization.
Examples:
Market risks- include competition, foreign exchange, internal rate risk
Government regulatory changes
Disaster such as flood, fire, earthquake, or other natural disaster
Risk associated with labor strikes, and civil unrest
Communication system and security sensor failures
B. Cost Risk:
Directly or indirectly under project manager’s control
Cost risk usually arise due to poor cost estimation, accuracy and scope creep
Examples:
Cost overruns by project team or subcontractors, vendors, and consultants
Poor estimation or errors that result in unforeseen costs
Overrun of budget and schedule
4. Project Risk
Schedule Risk
Can cause project failure by missing or delaying a market opportunity for a product or service
the risk that activities will take longer than expected
Slippages in schedule typically increase cost, delay the receipt of project benefits
Schedule risk are caused by:
Inaccurate estimation, resulting in errors
Increased effort to solve technical, operational, and external problems
Resource shortfalls, including staffing delays, insufficient resources
Unplanned resource assignment- loss of staff due to other higher priority projects
D. Technology risk
Failure to meet system target functionality or performance expectations
It is the risk that project will fail to produce results consistent with project specifications
Examples:
Problems with immature technology
Use of wrong tools
Software that is untested or fails to work properly
5. Project Risk
E. Operational Risk
Characterized by an inability to implement large scale change effectively
This risk can result in failure to realize the intend or expected benefit of the project
Causes of operational risk:
Inadequate resolution of priorities or conflicts
Failure to design authority to key people
Insufficient communication or lack of communication plan
Size of transactions volume- too great or too small
Poor implementation
6. Risk Analysis
Risk Analysis is the process that helps in identification of potential threats that
could affect the success of a business or project.
It includes means to measure, mitigate and control risks effectively.
It is an essential tool when the work involves threats and risks.
7. Methods of Risk Analysis
Two methods
i. Qualitative Approach
ii. Quantitative approach
8. Qualitative Approach
It uses the probability of occurrence and
consequences of occurrence scales
together with a risk mapping matrix to
convert the values to risk levels.
It is the application of methods for
ranking the identified risk according to
their potential effect on project objective.
9. Quantitative Approach
Quantitative risk analysis analyzes numerically the effect a project risk has on a
project objective.
It uses the technique such as expected value, decision tree analysis, payoff
matrices, modeling and simulation.
It determines best management decision when conditions or outcomes are
uncertain.
10. Analysis of major source of Risk
• Insufficient skilled staff
• Inaccurate cost and schedule estimates
• Design errors and omissions
• Change in project scope and requirements
• Inadequately defined roles and responsibilities
• New technology
11. Source of Risk
Insufficient skilled staff
- Manager must ensure sufficient skilled staffs as lack of skilled staff causes
various problems in future,
- It effects project during implementation phase and its effect is inefficiency
Inaccurate cost and schedule estimates
- This source results from ineffective project planning at early stage, if project cost
and schedule are not effectively planned then the project goes in wrong direction,
- Its effects are poor coordination, ineffective use of resources, delay of project and
increased project cost.
12. Source of Risk
Design errors and omissions
- There might be some intentional or unintentional omissions or errors to implement
the project, and due to complexity of project and tight time frame a project team
might misunderstand due to ineffective communication
- Examples: deficiency design document, improperly sized equipment , design
calculation errors.
Change in project scope and requirements
- As project progresses, the scope and requirements may change due to change in
user requirement and technical feasibility,
- Its impacts are inefficiency, disruption, delay and increased cost
13. Source of Risk
Inadequately defined roles and responsibilities
- This source of risk is most common in projects of Nepal because of project
management structure and ambiguous roles and responsibilities
- It causes project inefficiency, disruption and delay.
New technology
- It often plays an important role in project risk analysis , since it might force
project members to change the strategy of project or revise the technology used,
- Its impact in a project is significantly increased project time and cost
14. Risk management
Risk management is an important practice that helps to identify, evaluate, track, and
mitigate the risks present in the business environment. The process involves:
Risk management
planning
Identifying the
risk
Analysis of risk
Prioritization of
risk
Solution
implementation
Risk
monitoring
Qualitative risk
Quantitative risk
15. Risk management planning
It is the process of deciding how to plan and execute risk management activities for a
project.
Objectives:
• Establish basis for evaluating risk
• Ensure risk management effort is proportionate to both risk and importance of
project
• Provide enough resources for risk management activities
16. Risk management Plan(RMP)
It is the document prepared after the risk management planning meeting.
It involves:
Methodology
Roles and responsibility
Timing
Budgeting
Risk categories and risk breakdown structure
Risk probability and impacts
Revised stakeholder’s risk tolerances
Reporting format
Tracking
17. Risk Identification
It is the process of identifying the risk with the involvement of various participants of
project.
The participants can be project team, risk management team, subject matter experts,
customers and users.
It is an iterative process and its objectives are:
To determine the risks that may affect the project
To document their characteristics in Risk Register
18. Risk response planning
Risk response planning addresses the matter of how to deal with risk.
Risk response planning is the process of developing options and determining
actions to enhance opportunities and reduce threats to the project`s objectives.
It includes the identification and assignment of individuals or parties to take
responsibility for each agreed risk response.
Objective of risk response planning
Develop options and determine action to enhance opportunities and minimize
threats to project objectives.
Assign responsibility to individuals or parties for each risk response.
19. Risk response strategies
i. Strategies for negative risk (threats)
ii. Strategies for positive risk (opportunity
20. Strategies for positive risk (opportunity)
a). Exploit the opportunity
Ensure that the risk event happens by eliminating the uncertainty.
Examples;- assign qualified personnel, provide better quality etc.
b). Share the risk
Allocate ownership to a third party who has who has better chance of achieving the
required results.
Examples;- partnerships, joint ventures, rewards etc.
c). Enhance
Improve chances for the event to happen so the opportunity becomes more certain.
Increase the likelihood of occurrence of impact of the event.
d). Accept the risk
Active acceptance;- developing a contingency plan to execute should a risk occur.
Passive acceptance;- it requires no action. The project team will deal with the risk as it
occurs.
21. Strategies for negative risk( threats)
a). Risk avoidance
Process to avoid risk by changing the project plan to eliminate risk.
Examples:- add resources , improve communication, avoid unfamiliar sub-contractor etc.
b). Risk transfer
Transfer the risk to the third party who will carry the risk impact and ownership of the risk
response.
Examples;- transfer or risk liability to sub-contractors, performance bonds, warranties etc.
c). Risk mitigation
Aims at reducing the probability/impact of a risk to within an acceptable threshold .
Examples;- adopting less complex process, adding resource, conducting more engineering
test and inspections etc.
d). Risk acceptance
Acceptance indicates a decision not to make any changes to the project plan to deal with a
risk or that a suitable risk strategy.
22. Risk monitoring and control
Monitoring identified and residual risk, identifying new risks, executing risk
response plan and evaluating their effectiveness throughout project life cycle.
Purpose of risk monitoring
The purpose is to determine if :
Risk response have been implemented as planned.
Risk response actions are as effective as expected.
Project assumptions are still valid.
Risk exposure has changed from its prior state, with analysis of trends.
Proper policies and procedures are followed.
New risks have occurred that were not previously identified.
23. Methods of risk monitoring and control
a). Risk reassessment
Reviews project risk at project team meetings.
Major reviews are made at major milestones.
Risk rating and prioritization may change during the project life cycle.
b). Risk audits
Examine and document the effectiveness of the risk response planning in controlling risk and the
effectiveness of the risk owner.
c). Variance and trend analysis
Used for monitoring overall project cost and schedule performance against baseline plan.
Significant deviations indicates that updated risk identification and analysis should be performed.
d). Reserve analysis
As execution progresses, some risk events may happen with positive or negative impact on cost or schedule
contingency reserves. Reserve analysis compares available reserves with amount of risk remaining at the time
and determines whether reserves are sufficient.
e). Status meeting
Risk management can be addressed regularly by including the subject in project meeting.
24. Benefits of Risk Management
Protects project investments
Early warning
Saves time and money
Decreases the impact of negative events
Achieve project objectives
25. Conclusion
While we can never predict the future with certainty, we can apply risk
management process to predict the uncertainties in the projects and
minimize the impact of these uncertainties.
Risk management not only helps in avoiding crisis situations but also aids in
remembering and learning from past mistakes. This improves the chance of
successful project completion and reduces the consequences of those risks.
Risk management is a constant learning process to be able to constantly
improve our practices to increase our process efficiency.