As per PMBOK - "The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk. Risk may have positive effects or negative effects on the project “Schedule” and/or “Cost”. Positive risks are Opportunities and negative risks are losses or threats; remember both risks are uncertain “percentage of occurrence less than 80%”. Risk Management purpose is to manage (Plan and implement) these uncertainties.
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.
Project and Program Risk Management
Reasons to Manage Risks
ISO31000 for Risk Management
Risk Management in Project Lifescycle
Tools to manage Project Risks
Buisness Plan Financial Planner When preparing the critical.pdfabhishekelectronic
Buisness Plan: Financial Planner
When preparing the critical risks list, its important to mention those risk that have the most
potential to impact your business plan project positively or negatively. Identifying critical risks is a
process of prioritization and this an output of qualitative or quantitative risk analysis. Risk
prioritization facilitates the process of risk mitigation and response planning. There are several
tools which can help with risk prioritization, particularly the risk register and the risk matrix,
following we show how to build each one.
Risk Matrix
S
E
V
E
R
I
T
Y
Probability of occurrence
Risk Assessment Matrix
Very unlikely to happen
Unlikely to happen
Possibly could happen
Likely to happen
Very likely to happen
5. Catastrophic (e.g fatal)
Moderate
Moderate
High
Critical
Critical
4. Major (e.g permanent disability)
Low
Moderate
Moderate
High
Critical
3. Moderate (e.g Hospitalisation/short- or long-term disability)
Low
Moderate
Moderate
Moderate
High
2. Minor (e.g First Aid)
Very Low
Low
Moderate
Moderate
Moderate
Superficial (e.g no treatment required)
Very Low
Very Low
Low
Low
Moderate
Risk Register
Critical risk
Severity (From 1 to 5 being 1 the less critical and 5 the most)
Probability of occurrence (from 1 to 5, being 1 the less probable and 5 the most)
A
B
C
D
E
Probability of occurrence
Risk Very Possibly
Unlikely to Likely to Very likely
Assessment unlikely to could
happen happen to happen
Matrix happen happen
5.
Catastrophi Moderate Moderate High Critical Critical
S
c (e.g fatal)
E
V
4. Major (e.g
E
permanent Low Moderate Moderate High Critical
R
disability)
I
3. Moderate
T
(e.g
Y
Hospitalisat
Low Moderate Moderate Moderate High
ion/short- or
long-term
disability)
2. Minor (e.g
Very Low Low Moderate Moderate Moderate
First Aid)
Superficial
(e.g no
Very Low Very Low Low Low Moderate
treatment
required).
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.
Literature Review Basics and Understanding Reference Management.pptxDr Ramhari Poudyal
Three-day training on academic research focuses on analytical tools at United Technical College, supported by the University Grant Commission, Nepal. 24-26 May 2024
As per PMBOK - "The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk. Risk may have positive effects or negative effects on the project “Schedule” and/or “Cost”. Positive risks are Opportunities and negative risks are losses or threats; remember both risks are uncertain “percentage of occurrence less than 80%”. Risk Management purpose is to manage (Plan and implement) these uncertainties.
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.
Project and Program Risk Management
Reasons to Manage Risks
ISO31000 for Risk Management
Risk Management in Project Lifescycle
Tools to manage Project Risks
Buisness Plan Financial Planner When preparing the critical.pdfabhishekelectronic
Buisness Plan: Financial Planner
When preparing the critical risks list, its important to mention those risk that have the most
potential to impact your business plan project positively or negatively. Identifying critical risks is a
process of prioritization and this an output of qualitative or quantitative risk analysis. Risk
prioritization facilitates the process of risk mitigation and response planning. There are several
tools which can help with risk prioritization, particularly the risk register and the risk matrix,
following we show how to build each one.
Risk Matrix
S
E
V
E
R
I
T
Y
Probability of occurrence
Risk Assessment Matrix
Very unlikely to happen
Unlikely to happen
Possibly could happen
Likely to happen
Very likely to happen
5. Catastrophic (e.g fatal)
Moderate
Moderate
High
Critical
Critical
4. Major (e.g permanent disability)
Low
Moderate
Moderate
High
Critical
3. Moderate (e.g Hospitalisation/short- or long-term disability)
Low
Moderate
Moderate
Moderate
High
2. Minor (e.g First Aid)
Very Low
Low
Moderate
Moderate
Moderate
Superficial (e.g no treatment required)
Very Low
Very Low
Low
Low
Moderate
Risk Register
Critical risk
Severity (From 1 to 5 being 1 the less critical and 5 the most)
Probability of occurrence (from 1 to 5, being 1 the less probable and 5 the most)
A
B
C
D
E
Probability of occurrence
Risk Very Possibly
Unlikely to Likely to Very likely
Assessment unlikely to could
happen happen to happen
Matrix happen happen
5.
Catastrophi Moderate Moderate High Critical Critical
S
c (e.g fatal)
E
V
4. Major (e.g
E
permanent Low Moderate Moderate High Critical
R
disability)
I
3. Moderate
T
(e.g
Y
Hospitalisat
Low Moderate Moderate Moderate High
ion/short- or
long-term
disability)
2. Minor (e.g
Very Low Low Moderate Moderate Moderate
First Aid)
Superficial
(e.g no
Very Low Very Low Low Low Moderate
treatment
required).
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.
Literature Review Basics and Understanding Reference Management.pptxDr Ramhari Poudyal
Three-day training on academic research focuses on analytical tools at United Technical College, supported by the University Grant Commission, Nepal. 24-26 May 2024
ACEP Magazine edition 4th launched on 05.06.2024Rahul
This document provides information about the third edition of the magazine "Sthapatya" published by the Association of Civil Engineers (Practicing) Aurangabad. It includes messages from current and past presidents of ACEP, memories and photos from past ACEP events, information on life time achievement awards given by ACEP, and a technical article on concrete maintenance, repairs and strengthening. The document highlights activities of ACEP and provides a technical educational article for members.
6th International Conference on Machine Learning & Applications (CMLA 2024)ClaraZara1
6th International Conference on Machine Learning & Applications (CMLA 2024) will provide an excellent international forum for sharing knowledge and results in theory, methodology and applications of on Machine Learning & Applications.
TOP 10 B TECH COLLEGES IN JAIPUR 2024.pptxnikitacareer3
Looking for the best engineering colleges in Jaipur for 2024?
Check out our list of the top 10 B.Tech colleges to help you make the right choice for your future career!
1) MNIT
2) MANIPAL UNIV
3) LNMIIT
4) NIMS UNIV
5) JECRC
6) VIVEKANANDA GLOBAL UNIV
7) BIT JAIPUR
8) APEX UNIV
9) AMITY UNIV.
10) JNU
TO KNOW MORE ABOUT COLLEGES, FEES AND PLACEMENT, WATCH THE FULL VIDEO GIVEN BELOW ON "TOP 10 B TECH COLLEGES IN JAIPUR"
https://www.youtube.com/watch?v=vSNje0MBh7g
VISIT CAREER MANTRA PORTAL TO KNOW MORE ABOUT COLLEGES/UNIVERSITITES in Jaipur:
https://careermantra.net/colleges/3378/Jaipur/b-tech
Get all the information you need to plan your next steps in your medical career with Career Mantra!
https://careermantra.net/
NUMERICAL SIMULATIONS OF HEAT AND MASS TRANSFER IN CONDENSING HEAT EXCHANGERS...ssuser7dcef0
Power plants release a large amount of water vapor into the
atmosphere through the stack. The flue gas can be a potential
source for obtaining much needed cooling water for a power
plant. If a power plant could recover and reuse a portion of this
moisture, it could reduce its total cooling water intake
requirement. One of the most practical way to recover water
from flue gas is to use a condensing heat exchanger. The power
plant could also recover latent heat due to condensation as well
as sensible heat due to lowering the flue gas exit temperature.
Additionally, harmful acids released from the stack can be
reduced in a condensing heat exchanger by acid condensation. reduced in a condensing heat exchanger by acid condensation.
Condensation of vapors in flue gas is a complicated
phenomenon since heat and mass transfer of water vapor and
various acids simultaneously occur in the presence of noncondensable
gases such as nitrogen and oxygen. Design of a
condenser depends on the knowledge and understanding of the
heat and mass transfer processes. A computer program for
numerical simulations of water (H2O) and sulfuric acid (H2SO4)
condensation in a flue gas condensing heat exchanger was
developed using MATLAB. Governing equations based on
mass and energy balances for the system were derived to
predict variables such as flue gas exit temperature, cooling
water outlet temperature, mole fraction and condensation rates
of water and sulfuric acid vapors. The equations were solved
using an iterative solution technique with calculations of heat
and mass transfer coefficients and physical properties.
2. What is Risk…?
Risk is any unexpected event that can
affect your project — for better or for
worse. Risk can affect anything: people,
processes, resources and technology.
Project risk is defined by PMI as, "an
uncertain event or condition that, if it
occurs, has a positive or negative effect
on a project's objectives."
3. What is Risk…?
This is an important distinction: risks are
not the same as issues. Issues are things
you know you’ll have to deal with, and may
even have an idea of when they’ll occur,
like a team member’s scheduled vacation
Risks are events that might happen, and
you may not be able to tell when. Like flu
season hitting your team all at once or a
key product component is being on
backorder.
4. RISK MANAGEMENT
Project Risk Management includes the
processes of conducting risk management
planning, identification, analysis, response
planning, response implementation, and
monitoring risk on a project.
The objectives of project risk management
are to increase the probability and/or
impact of positive risks and to decrease
the probability and/or impact of negative
risks, in order to optimize the chances of
project success.
5. RISK MANAGEMENT
Risk management is an important
function in organizations today.
Companies undertake increasingly
complex and ambitious projects, and
those projects must be executed
successfully, in an uncertain and
often risky environment.
6. IMPACT & PROBABILITY
The Risk Impact/Probability Chart is
based on the principle that a risk has
two primary dimensions:
Probability.
Impact.
7. IMPACT & PROBABILITY
Probability – A risk is an event that "may"
occur. The probability of it occurring can
range anywhere from just above 0 percent to
just below 100 percent. (Note: It can't be
exactly 100 percent, because then it would
be a certainty, not a risk. And it can't be
exactly 0 percent, or it wouldn't be a risk.)
8. IMPACT & PROBABILITY
Impact – A risk, by its very nature, always
has an impact. However, the size of the
impact varies in terms of cost and impact on
health, human life, or some other critical
factor.
10. IMPACT & PROBABILITY CHART
The chart allows you to rate potential risks
on these two dimensions. The probability
that a risk will occur is represented on one
axis of the chart – and the impact of the
risk, if it occurs, on the other.
The basic form of the Risk
Impact/Probability Chart as shown in
previous figure, The corners of the chart
have these characteristics:
11. Low Impact & Low Probability
Low impact/low probability – Risks in the
bottom left corner are low level, and you
can often ignore them.
12. Low Impact & High Probability
Low impact/high probability – Risks in
the top left corner are of moderate
importance – if these things happen, you
can cope with them and move on.
However, you should try to reduce the
likelihood that they'll occur.
13. High Impact & Low Probability
High impact/low probability – Risks in the
bottom right corner are of high importance if
they do occur, but they're very unlikely to
happen. For these, however, you should do
what you can to reduce the impact they'll have
if they do occur, and you should have
contingency plans in place just in case they do.
14. High Impact & High
Probability
High impact/high probability – Risks
towards the top right corner are of critical
importance. These are your top priorities,
and are risks that you must pay close
attention to.