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Project risk management workshops

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A risk workshop is a brainstorming session involving the project team to identify, assess, and address risks that could impact a project. Key aspects of the workshop include identifying each risk, determining the probability and impact of each risk, and evaluating whether risks are acceptable or require mitigation actions. The first risk workshop should be held after the project scope and team are defined. Subsequent workshops are recommended throughout the project to reassess risks. Preparation and proper facilitation of the workshop are important to generate discussion and ensure risks are properly documented for ongoing monitoring and mitigation. Being proactive about risks in this way increases the likelihood of project success.

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Risk workshops Increasing the chances of project success
What is a risk? ,[object Object],[object Object],[object Object]
A risk example... “ We might lose Janice - the project would fail without her”
What is a risk workshop?
[object Object],[object Object]
[object Object],[object Object],[object Object]
[object Object],Determine how important each risk is based on an assessment of two factors...
[object Object],[object Object],[object Object]
[object Object],The impact the risk would have on the project if it were to turn into an issue
[object Object],[object Object]
...the actions that can be taken to make it more acceptable
Who should come to a risk workshop?
[object Object],[object Object]
When should the first risk workshop take place?
As soon as your core team is identified, and…
… your objectives and scope are outlined.
Subsequent risk workshops should be held frequently throughout the project
[object Object]
...impact and probability The importance of each risk can range from ‘insignificant’ up to ‘critical’.
[object Object]
...it requires plenty of preparation.
The risk workshop can be formal…
… or informal…
...but should follow a set framework...
...and last no more than one hour.
The risk workshop needs to follow a few steps…
1. Remind everyone of the project scope
2. Tell everyone the status of the project
… this will help get the ball rolling 3. Provide some risk examples…
… this is where everyone starts to get involved… 4. Risk identification…
...all meeting attendees receive a pad of post-it notes...
… and then five minutes of silence….
… while all attendees make a note of every risk that they can think of.
5. All risks are then collated… … you might be surprised how many are found.
6. As a group, each risk is assessed… … and a ‘high’, ‘medium’, or ‘low’ score is given for impact and probability.
7. If time permits, evaluate each risk....
...and determine whether each one is acceptable. If not.. .
...the required actions to make it more acceptable are captured.
Meeting minutes and any follow on actions must be recorded... ...and distributed shortly after the meeting.
What happens next?
Monitor and control of actions to address the identified threats
Adjust the project schedule based on risk mitigation actions
...by being risk aware rather than risk averse! This approach will increase the chances of success...
Iain Shipley Project Manager [email_address]

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