POSTER

1. RESEARCH POSTER PRESENTATION DESIGN © 2015
www.PosterPresentations.com
• Project risk management is the art and science of
identifying, analyzing, and responding to risk throughout
the life of a project and in the best interests of meeting
project objectives
• Positive risks are risks that result in good things
happening; sometimes called opportunities
• Negative risk involves understanding potential problems
that might occur in the project and how they might
impede project success
• Risk utility or risk tolerance is the amount of
satisfaction or pleasure received from a potential payoff
THE IMPORTANCE OF PROJECT
RISK MANAGEMENT
RISK MANAGEMENT PLANNING
• Identifying risks is the process of understanding what potential events might hurt or enhance a particular project
• Risk identification tools and techniques include:
 Brainstorming
 The Delphi Technique
 Interviewing
 SWOT analysis
Risk Register
• A risk register is a document that contains the results of various risk management processes and that is often displayed in a
table or spreadsheet format.
COMMON SOURCES OF RISK ON IT
PROJECTS
• Assess the likelihood and impact of identified risks to determine their magnitude and priority
• Risk quantification tools and techniques include:
o Probability/impact matrixes
o The Top Ten Risk Item Tracking
o Expert judgment
PERFORMING QUALITATIVE RISK ANALYSIS
PLANNING RISK RESPONSES
• After identifying and quantifying risks, you must decide how to respond to them
• Four main response strategies for negative risks
Risk avoidance
Risk acceptance
Risk transference
Risk mitigation
MONITORING AND CONTROLLING RISKS
• monitoring identified and residual risks, identifying new risks, carrying out risk response plans, and evaluating the
effectiveness of risk strategies throughout the life of the project
• Workarounds
• Main outputs of risk monitoring and control are:
 Risk register updates
 Organizational process assets updates
 Change requests
 Updates to the project management plan and other project documents
USING SOFTWARE TO ASSIST IN
PROJECT RISK MANAGEMENT
• Risk registers can be created in a simple Word or Excel
file or as part of a database
• More sophisticated risk management software, such as
Monte Carlo simulation tools, help in analyzing project
risks
• The main output of risk management planning is a risk
management plan, a plan that documents the procedures
for managing risk throughout a project
• Topics addressed in risk management plan
o Methodology
o Roles and responsibilities
o Budget and schedule
o Risk categories
o Risk probability and impact
o Revised stakeholders’ tolerances
o Tracking
o Risk documentation
• In addition to a risk management plan, many projects
also include
• Contingency plans
• Fallback plans
• Contingency reserves
GROUP 1
CO2225 SOFTWARE MANAGEMENT TECNIQUES
RISK MANAGEMENT
IDENTIFYING RISKS
PERFORMING QUANTITATIVE RISK ANALYSIS
• It is the numerically estimating the effects of risks on project objectives.
• Main techniques include:
 Decision tree analysis
 Simulation
 Sensitivity analysis
THANK YOU
• EUSL/TC/IS/2015/COM/05
• EUSL/TC/IS/2015/COM/18
• EUSL/TC/IS/2015/COM/25
• EUSL/TC/IS/2015/COM/36
• EUSL/TC/IS/2015/COM/44
• Market risk
• Financial risk
• Technology risk
• People risk
• Structure/process risk.
QUESTIONS
1. What do you mean by risk management ?
2. What are the importance of risk management ?
3. What do you mean by negative and positive risk ?
4. What are the common source of risk on its project ?
5. Briefly describe identifying risk and list down tools and
techniques used?
6. State the meaning of “Risk Register”?
7. List down risk quantification tools and techniques ?
8. State the techniques used performing quantitative risk
analysis?
9. List down main response strategies for negative risk?
10.State main outputs of risk monitoring and control ?