1. A special lecture for IRAQ’s
Kirkuk Global Leaders
July .2013

2. Managing risks
 is imperative for success
 especially in projects
 need to have a process/s
 five steps project manager/s can use

3. Do it Professionally
 risk management processes are cyclic
 start from identification of a risk, and
 may result in identification of another
New risk
 each individual has different opinions &
ways to deal with risks, So
 risk should be consistent to meet project objectives
 documented in a risk management plan

4. The Process

5. STEP 1-Identify Risks
 Identify risks that affect the project
 positively or negatively, and
 document their characteristics
 Do this as thoroughly as you can

6. Identify Risks – Mind Map

7. STEP 2-Assess & Analyze Risks
 Assess the risk impact
 Analyze the probability of risk occurrence, and
 prioritize the risks
 numerically analyze the effect of identified risks on project
objectives
 usually on cost, schedule and scope targets

8. Perform Qualitative Risk Analysis – Mind Map

9. Perform Quantitative Risk Analysis – Mind Map

10. STEP 3-Plan Actions
• Explore all the possible ways to
 reduce the impact of threats , and/or
 exploit opportunities
• Plan actions to eliminate
 the risks and/or
 enhance the opportunities
 Action plans should be appropriate,
 cost effective, and
 realistic

11. Plan Risk Management –
Mind Map

12. STEP 4-Monitor & Implement the
Action
 Track the risks throughout the project
 If risks occur then,
 implement the risk strategy based on action plan
 Risk strategies may include’
 Mitigation
 Acceptance
 Avoidance, and
 Exploitation

13. Plan Risk Responses – Mind Map

14. STEP 5- Measure the effectiveness
& Control the risk impact
 Measure the effectiveness of the planned action and
 controlling the risk impact
 by understanding risk triggers
 & timely implementation of planned actions

15. Monitor & Control Risks – Mind Map