SlideShare una empresa de Scribd logo
1 de 27
Descargar para leer sin conexión
4/3/2011

Project Management
Knowledge Areas
Section – 3
Chapter – 11

Project Risk Management


Session Objectives…
1. To identify the project Risk management
knowledge area’s processes
2. How to plan Risk Management for the project
3. How to identify Risk
4. How to perform Qualitative Risk Analysis
5. How to perform Quantitative Risk Analysis
6. How to plan risk Responses
7. How to perform Risk Monitoring and
Control

1
4/3/2011

Project Risk Management


Exam Objectives
1. Planning for Risk Management
2. Identifying Risks
3. Creating a Risk Register
4. Performing Qualitative Risk Analysis
5. Performing Quantitative Risk Analysis
6. Planning for Risk Responses
7. Monitoring and controlling Risks

Project Risk Management


The Project Risk Management Knowledge
area, discusses the processes of
 Plan Risk management
 Identify Risks
 Perform Qualitative Risk analysis
 Perform Quantitative Risk analysis
 Plan Risk responses
 Monitor and Control Risks

2
4/3/2011

Project Risk Management


What is Risk?
 Risk is unplanned event or condition that
can have a positive or negative effect on its
success
 Not all Risks are bad, and are seen as a
Threat
 Risk is uncertainty

Plan Risk Management
The process is to decide
 How to approach
 How to conduct
 Risk management activities
 Exam point to remember
The objective of Risk Management Planning is to
ensure that the level, type and visibility of Risk
Management are commensurate with both the
risk and importance to the project to the
organization, to provide sufficient resources and
time for risk management activities and to
establish an agreed-upon basis for evaluating risks.


3
4/3/2011

Plan Risk Management
• 1. Project Scope
Statement
• 2. Cost Management Plan
• 3. Schedule Management
Plan
• 4. Enterprise
Environmental Factors
• 5. Organizational Process
Assets

Tools &
Techniques
• 1. Risk Management Plan
• 1. Planning Meetings and
Analysis

Input

Output

Plan Risk Management


Inputs
1. Project Scope Statement
2. Cost Management Plan
3. Schedule Management Plan
4. Enterprise Environmental Factors
5. Organizational Process Assets

4
4/3/2011

Plan Risk Management
Tools and Techniques
1. Planning Meeting and Analysis
 Outputs
1. Risk Management Plan


Risk Management Plan


Contains…
 Methodology
 Roles and Responsibility
 Budgeting
 Timing
 Risk Categories
 Definitions of Risk Probability and Impact
 Probability and Impact Matrix
 Revised stakeholders’ tolerances
 Reporting formats
 Tracking

5
4/3/2011

Risk Categorization
Risk Breakdown Structure
 The Categories are
 Technical
 External
 Organizational
 Project Management


Risk Categorization
Risk Breakdown Structure

6
4/3/2011

Plan Risk Management
Probability : Is the chance that something is likely to
happen
 Ranked as “Very Unlikely” to “Almost
Certainty”
 Impact: The resultant of the probable event, is
measured as impact
 Negative for threats or
 Positive opportunities
 Ranked as “Very Low”, “Low”, “Moderate”,
“High”, “Very High”


Probability and Impact Matrix

Defined Conditions for Impact Scales of a Risk on
Major Project Objectives
Project
Very Low
Objectives / .05

Low
/ .10

Moderate
/ .20

High
/ .40

Very High
/ .80

Cost
Time
Scope
Quality

7
4/3/2011

Probability and Impact Matrix


Legend - Watch list - Moderate - High
Alert
Defined Conditions for Impact Scales of a Risk on
Major Project Objectives
Probability/i / .05
mpact

/ .10

/ .20

/ .40

/ .80

Very Low
Low
Moderate
High
Very High

Identify Risk
The process of
 Identifying the Risks
 Documenting their characteristics
 The process is repetitive


8
4/3/2011

Identify Risk


Risks may be found
1. Budgets/funding
2. Schedules
3. Scope or requirement changes
4. Project plan
5. Project management processes
6. Technical issues
7. Personnel issues

Identify Risk


Risks may be found
8. Hardware
9. Contracts
10. Political
11. Business risk
12. Legal
13. Environmental

9
4/3/2011

Identify Risk
•
•
•
•
•
•
•
•
•
•

1. Risk Management Plan
2.Activity Cost Estimates
3.Activity Duration Estimates
4. Scope Baseline
5. Stakeholder Register
6. Cost Management plan
7. Schedule Management Plan
8. Quality Management Plan
9. Project Documents
10. Enterprise Environmental
Factors
• 11. Organizational Process
Assets

Tools &
Techniques
• 1. Documentation Reviews
• 2. Information Gathering
Techniques
• 3. Checklist Analysis
• 4. Assumptions Analysis
• 5. Diagramming techniques
• 6. SWOT Analysis
• 7. Expert Judgment

• 1. Risk Register

Output

Input

Identify Risk


Inputs
1. Risk Management Plan
2. Activity Cost Estimates
3. Activity Duration Estimates
4. Scope Baseline
5. Stakeholder Register
6. Cost Management Plan

10
4/3/2011

Identify Risk


Inputs
7. Schedule Management Plan
8. Quality Management Plan
9. Project Documents
10. Enterprise Environmental Factors
11. Organizational Process Assets

Identify Risk


Tools and Techniques
1. Documentation Reviews
2. Information Gathering techniques
 Brainstorming
 Delphi technique
 Interviewing
 Root Cause Identification

11
4/3/2011

Identify Risk


Tools and Techniques
3. Checklist Analysis
4. Assumptions Analysis
5. Diagramming Techniques
 Cause-and-Effect diagrams
 System or Process Flow charts
6. SWOT Analysis
7. Expert Judgment

Identify Risk


Outputs
1. Risk Register
 List of identified Risks
 List of Potential Responses
 Root causes of Risks
 Updated Risk Categories

12
4/3/2011

Perform Qualitative Risk Analysis
Qualitative Analysis is a subjective approach
to prioritizing risks.
 According to probability and potential
impact, identified risks are rated
 The ranking categorizes into
 That require additional analysis
 That may proceed directly to risk
response planning
 That are not critical
 And prioritizes risks


Perform Qualitative Risk Analysis

•
•
•
•

1. Risk Register
2. Risk Management Plan
3. Project Scope Statement
4. Organizational Process
Assets

Input

Tools &
Techniques
• 1. Risk probability And Impact
Assessment
• 2. Probability and Impact
Matrix
• 3. Risk Data Quality
Assessment
• 4. Risk Categorization
• 5. Risk Urgency Assessment
• 6. Expert Judgment

• 1. Risk Register
• Updates

Output

13
4/3/2011

Perform Qualitative Risk Analysis


Inputs
1. Risk Register
2. Risk Management Plan
3. Project Scope Statement
4. Organizational Process Assets

Perform Qualitative Risk Analysis


Tools and Techniques
1. Risk Probability and Impact
Assessment
2. Probability and Impact Matrix
3. Risk Data Quality Assessment
4. Risk Categorization
5. Risk Urgency Assessment
6. Expert Judgment

14
4/3/2011

Perform Qualitative Risk Analysis


Outputs
 Updated Risk Register
 Relative ranking or priority list of risks
 Risks grouped by categories
 List of risks requiring responses in the
near term
 List of risks for additional analysis and
response
 Watch-lists of low priority risks
 Trends in qualitative risk analysis results

Perform Quantitative Risk
Analysis

Quantitative Risk Analysis tries to numerically
assess the probability and impact of the identified
risks
 The objectives of quantitative risk analysis are
 Ascertain the likelihood of project success
 Determine the risk exposure
 Determine the likely amount of contingency
reserve needed
 Determine the risks with largest impact on
the project


15
4/3/2011

Perform Quantitative Risk Analysis

• 1. Risk Register
• 2. Risk Management Plan
• 3. Project Cost
Management Plan
• 4. Schedule Management
Plan
• 5. Organizational Process
Assets

Input

Tools &
Techniques
• 1. Data Gathering And
Representation Techniques
• 2. Quantitative Risk Analysis
And Modeling techniques
• 3. Expert Judgment

• 1. Risk Register
• Updates

Output

Perform Quantitative Risk Analysis


Inputs
1. Risk Register
2. Risk Management Plan
3. Project Cost Management Plan
4. Project Schedule Management Plan
5. Organizational Process Assets

16
4/3/2011

Perform Quantitative Risk Analysis


Tools and Techniques
1. Data Gathering and Representation
 Techniques
 Interviewing
 Probability Distributions
 Expert Judgment

Perform Quantitative Risk Analysis


Tools and Techniques
 2. Quantitative Risk Analysis and
Modeling
 Techniques
 Sensitivity Analysis
 Expected Monetary Value Analysis
 Decision Tree Analysis
 Modeling and Simulation
 3. Expert Judgment

17
4/3/2011

Perform Quantitative Risk Analysis


Outputs
1. Updated Risk Register
 Probabilistic Analysis of the Project
 Probability of Achieving Cost and
Time Objectives
 Prioritized list of quantified risks
 Trends in Quantitative Risk Analysis
Results

Perform Quantitative Risk Analysis
Buy or
Build

Decision Tree Analysis

Decision Name
Buy
200,000

Build
190,000
Probability of On-Time
Completion

Strong
85%

Weak 15%

Strong
75%

Weak 25%

170,000

30,000

142,500

47,500

Best Decision

18
4/3/2011

Plan Risk Responses
Risk response planning is all about options and
actions
 It involves activities
 How to decrease the possibility of risks
 How to reduce the impact of the risk if has
to happen
 Effectiveness of Risk Response will control
number of risks that occur
Exam Point:- Planned risk responses must be
appropriate to the significance of the risk, cost
effective in meeting the challenge, timely, realistic with
the project context, agreed upon by all parties
involved, and owned by a responsible person.


Plan Risk Responses

• 1. Risk Management Plan
• 2. Risk Register

Tools &
Techniques
• 1. Strategies For negative risks
or Threats
• 2. Strategies for positive risks
or Opportunities
• 3. Contingent Response
Strategies
• 4. Expert Judgment

Input

• 1. Updated Risk Register
• 2. Updated Project
Management Plan
• 3. Risk-related Contract
Decisions
• 4. Project Document Updates

Output

19
4/3/2011

Plan Risk Responses


Inputs
1. Risk Management Plan
2. Risk Register

Plan Risk Responses


Tools and Techniques
 1. Strategies for Negative Risks or
Threats
 Avoid
 Transfer
 Mitigate
 Accept

20
4/3/2011

Plan Risk Responses
 Tools
2.

3.
4.

and Techniques
Strategies for Positive Risks or
Opportunities
 Exploit
 Share
 Enhance
 Accept
Contingent Response Strategies
Expert Judgment

Plan Risk Responses


Outputs
1. Updated Risk Register
2. Updated Project Management Plan
3. Risk – Related Contract Decisions
4. Project Document Updates

21
4/3/2011

Plan Risk Responses


Risk Transfer
 Insurance
 Performance Bonds
 Warranty
 Guaranty
 Fixed-Price contracts

Plan Risk Responses


Risk Mitigation
 An effort to reduce the probability,
impact or both of an identified risk.
 Ex:
 Developing prototypes, simulations.
 Adding activities to reduce the risk
probability or impact.

22
4/3/2011

Plan Risk Responses


Risk Acceptance
 Is the process of simply accepting the
risk because
 No other option
 Risk may be small probability, impact
or both
 Passive acceptance requires no action
 Active acceptance requires developing
a contingency plan if the risk occurs

Plan Risk Responses
Residual Risks
 The remains of the risk after
avoidance, transfer, or mitigation
 Secondary Risks
 The risks that are resulted from risk
responses


Secondary
Risk

Risk

Solution
Secondary
Risk`

23
4/3/2011

Monitor & Control Risks
The process is for:
 Monitoring identified risks triggers at the
thresholds
 Controlling identified risks with
responses
 Scouting for new risks that may creep up
 The objectives are to
 Confirm risk responses are implemented
as planned
 Determine if risk responses are effective
or new responses are needed


Monitor & Control Risks


The objectives are to
 Validate the project assumptions
 Monitor risk triggers
 Monitor for new risks
 Confirm policies and procedures

24
4/3/2011

Monitor & Control Risks

•1. Risk Management Plan
•2. Risk Register
•3. Approved Change requests
•4. Work performance
Information
•5. Performance reports

Tools &
Techniques
•1. Risk Reassessment
•2. Risk Audits
•3. Variance and Trends Analysis
•4. Technical Performance
Measurement
•5. Reserve Analysis
•6. Status Meetings

Input

•1. Updated Risk Register
•2. Requested Changes
•3. Recommended Corrective
Actions
•4. Recommended Preventive
Actions
•5. Updated Organizational
Process Assets
•6. Updated Project Management
Plan

Output

Monitor & Control Risks


Inputs
1. Risk Management Plan
2. Risk Register
3. Approved Change Requests
4. Work Performance Information
5. Performance Reports

25
4/3/2011

Monitor & Control Risks


Tools and Techniques
1. Risk Reassessment
2. Risk Audits
3. Variance and Trend Analysis
4. Technical Performance Measurement
5. Reserve Analysis
6. Staff Meetings

Monitor & Control Risks


Outputs
1. Updated Risk Register
2. Requested Changes
3. Recommended Corrective Actions
4. Recommended Preventive Actions
5. Updated Organizational Process
Assets
6. Updated Project Management Plan

26
4/3/2011

Project Risk Management
To Sum Up….
1. We identified the project Risk management
knowledge area’s processes
2. We know how to do Risk Management for the
project
3. We know how to do Risk Identification
4. We know how to perform Qualitative Risk
Analysis
5. We know how to perform Quantitative Risk
Analysis
6. We know how to do risk Response Planning
7. We know how to perform Risk Monitoring and
Control

Questions ?

27

Más contenido relacionado

La actualidad más candente

Risk Assessment
Risk AssessmentRisk Assessment
Risk Assessmentmjahn58
 
Risk Management as a Safety Program Tool
Risk Management as a Safety Program ToolRisk Management as a Safety Program Tool
Risk Management as a Safety Program ToolAtlantaSafetyCouncil
 
Qualitative & Quantitative Analysis
Qualitative & Quantitative AnalysisQualitative & Quantitative Analysis
Qualitative & Quantitative AnalysisAlin Veronika
 
Risk Analysis : PMP- Project Risk Management
Risk Analysis : PMP- Project Risk ManagementRisk Analysis : PMP- Project Risk Management
Risk Analysis : PMP- Project Risk ManagementSaket Bansal
 
Project Risk Management
 Project Risk Management Project Risk Management
Project Risk ManagementHayat Denzi
 
Perform qualitative risk analysis
Perform qualitative risk analysis Perform qualitative risk analysis
Perform qualitative risk analysis Shereef Sabri
 
PMI-RMP Exam Prep Presentation
PMI-RMP Exam Prep PresentationPMI-RMP Exam Prep Presentation
PMI-RMP Exam Prep Presentationscottdreynolds
 
Quantitative Project Risk Analysis
Quantitative Project Risk AnalysisQuantitative Project Risk Analysis
Quantitative Project Risk AnalysisIntaver Insititute
 
Gao cost estimating process
Gao cost estimating processGao cost estimating process
Gao cost estimating processGlen Alleman
 
Risk Management Software
Risk Management SoftwareRisk Management Software
Risk Management SoftwareCorporater
 
Riskmanagement 130215051514-phpapp01
Riskmanagement 130215051514-phpapp01Riskmanagement 130215051514-phpapp01
Riskmanagement 130215051514-phpapp01ShahXaib Bajwa
 
Monitoring and evaluation of human rights projects
Monitoring and evaluation of human rights projectsMonitoring and evaluation of human rights projects
Monitoring and evaluation of human rights projectsInka Pibilova
 
Project Risk Management
Project Risk ManagementProject Risk Management
Project Risk ManagementMarkos Mulat G
 
Project: Monitoring
Project: Monitoring Project: Monitoring
Project: Monitoring Mfb Firoz
 

La actualidad más candente (20)

Risk Assessment
Risk AssessmentRisk Assessment
Risk Assessment
 
Risk Management as a Safety Program Tool
Risk Management as a Safety Program ToolRisk Management as a Safety Program Tool
Risk Management as a Safety Program Tool
 
Qualitative & Quantitative Analysis
Qualitative & Quantitative AnalysisQualitative & Quantitative Analysis
Qualitative & Quantitative Analysis
 
Risk Analysis : PMP- Project Risk Management
Risk Analysis : PMP- Project Risk ManagementRisk Analysis : PMP- Project Risk Management
Risk Analysis : PMP- Project Risk Management
 
Risk management
Risk managementRisk management
Risk management
 
Project Risk Management
 Project Risk Management Project Risk Management
Project Risk Management
 
Risk management
Risk managementRisk management
Risk management
 
Perform qualitative risk analysis
Perform qualitative risk analysis Perform qualitative risk analysis
Perform qualitative risk analysis
 
PMI-RMP Exam Prep Presentation
PMI-RMP Exam Prep PresentationPMI-RMP Exam Prep Presentation
PMI-RMP Exam Prep Presentation
 
Quantitative Project Risk Analysis
Quantitative Project Risk AnalysisQuantitative Project Risk Analysis
Quantitative Project Risk Analysis
 
Gao cost estimating process
Gao cost estimating processGao cost estimating process
Gao cost estimating process
 
Risk Management Software
Risk Management SoftwareRisk Management Software
Risk Management Software
 
Risk management
Risk managementRisk management
Risk management
 
Riskmanagement 130215051514-phpapp01
Riskmanagement 130215051514-phpapp01Riskmanagement 130215051514-phpapp01
Riskmanagement 130215051514-phpapp01
 
ANNEX_TO_CV_DR_FEHERVARI_Elisabeth
ANNEX_TO_CV_DR_FEHERVARI_ElisabethANNEX_TO_CV_DR_FEHERVARI_Elisabeth
ANNEX_TO_CV_DR_FEHERVARI_Elisabeth
 
Monitoring and evaluation of human rights projects
Monitoring and evaluation of human rights projectsMonitoring and evaluation of human rights projects
Monitoring and evaluation of human rights projects
 
Risk assessment managment and risk based audit approach
Risk assessment managment and risk based audit approachRisk assessment managment and risk based audit approach
Risk assessment managment and risk based audit approach
 
Project Risk Management
Project Risk ManagementProject Risk Management
Project Risk Management
 
Project: Monitoring
Project: Monitoring Project: Monitoring
Project: Monitoring
 
Logical Framework Analysis
Logical Framework AnalysisLogical Framework Analysis
Logical Framework Analysis
 

Similar a Project managment 10

PROJECT RISK MANAGEMENT.pdf
PROJECT RISK MANAGEMENT.pdfPROJECT RISK MANAGEMENT.pdf
PROJECT RISK MANAGEMENT.pdfMUST
 
A Guide to Risk Management
A Guide to Risk ManagementA Guide to Risk Management
A Guide to Risk ManagementProjectCon
 
11.0 Project Risk Management Overview
11.0 Project Risk Management Overview11.0 Project Risk Management Overview
11.0 Project Risk Management OverviewDavidMcLachlan1
 
NCV 4 Project Management Hands-On Support Slide Show - Module5
NCV 4 Project Management Hands-On Support Slide Show - Module5NCV 4 Project Management Hands-On Support Slide Show - Module5
NCV 4 Project Management Hands-On Support Slide Show - Module5Future Managers
 
Risk Management Knowledge Area
Risk Management Knowledge AreaRisk Management Knowledge Area
Risk Management Knowledge AreaJoshua Render
 
Project risk management
Project risk managementProject risk management
Project risk managementBarnatuCoffee
 
Risk Management Best Practices
Risk Management Best PracticesRisk Management Best Practices
Risk Management Best PracticesPMILebanonChapter
 
11.5 Plan Risk Responses
11.5 Plan Risk Responses11.5 Plan Risk Responses
11.5 Plan Risk ResponsesDavidMcLachlan1
 
11.1 Plan Risk Management
11.1 Plan Risk Management11.1 Plan Risk Management
11.1 Plan Risk ManagementDavidMcLachlan1
 
Project Risk Management (10)
 Project Risk Management (10) Project Risk Management (10)
Project Risk Management (10)Serdar Temiz
 
Organizational project maturity model (opm3)
Organizational project maturity model (opm3)Organizational project maturity model (opm3)
Organizational project maturity model (opm3)Daniele Pinto
 
Project Risk Management
Project Risk ManagementProject Risk Management
Project Risk ManagementKaustubh Gupta
 
Fundamentals of Project Planning, Scheduling, Monitoring & Control
Fundamentals of Project Planning, Scheduling, Monitoring & ControlFundamentals of Project Planning, Scheduling, Monitoring & Control
Fundamentals of Project Planning, Scheduling, Monitoring & ControlAssociation for Project Management
 

Similar a Project managment 10 (20)

PROJECT RISK MANAGEMENT.pdf
PROJECT RISK MANAGEMENT.pdfPROJECT RISK MANAGEMENT.pdf
PROJECT RISK MANAGEMENT.pdf
 
Risk management mod
Risk management modRisk management mod
Risk management mod
 
Pmp risk chapter 11
Pmp risk chapter 11Pmp risk chapter 11
Pmp risk chapter 11
 
Session 18 4th edition PMP
Session 18 4th edition PMPSession 18 4th edition PMP
Session 18 4th edition PMP
 
Risk management
Risk managementRisk management
Risk management
 
10- PMP Training - Risk Management
10- PMP Training - Risk Management 10- PMP Training - Risk Management
10- PMP Training - Risk Management
 
A Guide to Risk Management
A Guide to Risk ManagementA Guide to Risk Management
A Guide to Risk Management
 
11.0 Project Risk Management Overview
11.0 Project Risk Management Overview11.0 Project Risk Management Overview
11.0 Project Risk Management Overview
 
NCV 4 Project Management Hands-On Support Slide Show - Module5
NCV 4 Project Management Hands-On Support Slide Show - Module5NCV 4 Project Management Hands-On Support Slide Show - Module5
NCV 4 Project Management Hands-On Support Slide Show - Module5
 
Risk Management Knowledge Area
Risk Management Knowledge AreaRisk Management Knowledge Area
Risk Management Knowledge Area
 
Project risk management
Project risk managementProject risk management
Project risk management
 
Risk Management Best Practices
Risk Management Best PracticesRisk Management Best Practices
Risk Management Best Practices
 
Session 10 gdas pmp study group presentation
Session 10   gdas pmp study group presentationSession 10   gdas pmp study group presentation
Session 10 gdas pmp study group presentation
 
11.5 Plan Risk Responses
11.5 Plan Risk Responses11.5 Plan Risk Responses
11.5 Plan Risk Responses
 
11.1 Plan Risk Management
11.1 Plan Risk Management11.1 Plan Risk Management
11.1 Plan Risk Management
 
Project Risk Management (10)
 Project Risk Management (10) Project Risk Management (10)
Project Risk Management (10)
 
Risk management
Risk managementRisk management
Risk management
 
Organizational project maturity model (opm3)
Organizational project maturity model (opm3)Organizational project maturity model (opm3)
Organizational project maturity model (opm3)
 
Project Risk Management
Project Risk ManagementProject Risk Management
Project Risk Management
 
Fundamentals of Project Planning, Scheduling, Monitoring & Control
Fundamentals of Project Planning, Scheduling, Monitoring & ControlFundamentals of Project Planning, Scheduling, Monitoring & Control
Fundamentals of Project Planning, Scheduling, Monitoring & Control
 

Más de Абдулазіз Мухаммед (9)

Project managment 9
Project managment  9Project managment  9
Project managment 9
 
Project managment 8
Project managment  8Project managment  8
Project managment 8
 
Project managment 7
Project managment  7Project managment  7
Project managment 7
 
Project managment 6 (a)
Project managment 6 (a)Project managment 6 (a)
Project managment 6 (a)
 
Project managment 6
Project managment 6Project managment 6
Project managment 6
 
Project managment 4
Project managment 4Project managment 4
Project managment 4
 
Project managment 3
Project managment 3Project managment 3
Project managment 3
 
Project managment 2
Project managment 2Project managment 2
Project managment 2
 
Project managment 1
Project managment 1Project managment 1
Project managment 1
 

Último

ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...
ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...
ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...indexPub
 
Economic Risk Factor Update: March 2024 [SlideShare]
Economic Risk Factor Update: March 2024 [SlideShare]Economic Risk Factor Update: March 2024 [SlideShare]
Economic Risk Factor Update: March 2024 [SlideShare]Commonwealth
 
First, Second, and Third Generation Islamic Economicss
First, Second, and Third Generation Islamic EconomicssFirst, Second, and Third Generation Islamic Economicss
First, Second, and Third Generation Islamic EconomicssAsad Zaman
 
2024.03 Strategic Resources_Pub (1). pdf
2024.03 Strategic Resources_Pub (1). pdf2024.03 Strategic Resources_Pub (1). pdf
2024.03 Strategic Resources_Pub (1). pdfAdnet Communications
 
Stock Market Brief Deck FOR 3142024..pdf
Stock Market Brief Deck FOR 3142024..pdfStock Market Brief Deck FOR 3142024..pdf
Stock Market Brief Deck FOR 3142024..pdfMichael Silva
 
Islamic banking in Afghanistan from start until now
Islamic banking in Afghanistan from start until nowIslamic banking in Afghanistan from start until now
Islamic banking in Afghanistan from start until nowhamidzafar6
 
The Role of Non-Banking Financial Companies (NBFCs).pdf
The Role of Non-Banking Financial Companies (NBFCs).pdfThe Role of Non-Banking Financial Companies (NBFCs).pdf
The Role of Non-Banking Financial Companies (NBFCs).pdfChampak Jhagmag
 
BIHC Briefing Greece March 2024, with Crédit Agricole CIB
BIHC Briefing Greece March 2024, with Crédit Agricole CIBBIHC Briefing Greece March 2024, with Crédit Agricole CIB
BIHC Briefing Greece March 2024, with Crédit Agricole CIBNeil Day
 
Swift_Maintaining Critical Standards(...).pptx.pdf
Swift_Maintaining Critical Standards(...).pptx.pdfSwift_Maintaining Critical Standards(...).pptx.pdf
Swift_Maintaining Critical Standards(...).pptx.pdfNeo4j
 
renaltumors upasana sahu Group 50.pptxism
renaltumors upasana sahu Group 50.pptxismrenaltumors upasana sahu Group 50.pptxism
renaltumors upasana sahu Group 50.pptxismthxz2fdqxw
 
Pros and Cons of Interest-Only DSCR Loans
Pros and Cons of Interest-Only DSCR LoansPros and Cons of Interest-Only DSCR Loans
Pros and Cons of Interest-Only DSCR LoansPark Place Finance LLC
 
2024.03 Strategic Resources_Pub presentation
2024.03 Strategic Resources_Pub presentation2024.03 Strategic Resources_Pub presentation
2024.03 Strategic Resources_Pub presentationAdnet Communications
 
Buy-Side Leaps Into Gen AI Era by Jasper Colin
Buy-Side Leaps Into Gen AI Era by Jasper ColinBuy-Side Leaps Into Gen AI Era by Jasper Colin
Buy-Side Leaps Into Gen AI Era by Jasper ColinJasper Colin
 
Mytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdf
Mytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdfMytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdf
Mytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdfNewsroom8
 
14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdf
14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdf14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdf
14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdfjamie766122
 
Challenging Factors of Rural Women Entrepreneurs in West Bengal
Challenging Factors of Rural Women Entrepreneurs in West  BengalChallenging Factors of Rural Women Entrepreneurs in West  Bengal
Challenging Factors of Rural Women Entrepreneurs in West BengalNabarun Chakraborty
 
Planning of societal re/production in a commonist society
Planning of societal re/production in a commonist societyPlanning of societal re/production in a commonist society
Planning of societal re/production in a commonist societyStefanMz
 
Stock Market Brief Deck FOR 31124 yt.pdf
Stock Market Brief Deck FOR 31124 yt.pdfStock Market Brief Deck FOR 31124 yt.pdf
Stock Market Brief Deck FOR 31124 yt.pdfMichael Silva
 
powerpoint presentation about asian regioonalism
powerpoint presentation about asian regioonalismpowerpoint presentation about asian regioonalism
powerpoint presentation about asian regioonalismrezeraaisla
 

Último (20)

ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...
ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...
ANALYSIS OF BANK MANDIRI S HEALTH LEVEL BASED ON RISK PROFILE, GOOD CORPORATE...
 
Economic Risk Factor Update: March 2024 [SlideShare]
Economic Risk Factor Update: March 2024 [SlideShare]Economic Risk Factor Update: March 2024 [SlideShare]
Economic Risk Factor Update: March 2024 [SlideShare]
 
First, Second, and Third Generation Islamic Economicss
First, Second, and Third Generation Islamic EconomicssFirst, Second, and Third Generation Islamic Economicss
First, Second, and Third Generation Islamic Economicss
 
2024.03 Strategic Resources_Pub (1). pdf
2024.03 Strategic Resources_Pub (1). pdf2024.03 Strategic Resources_Pub (1). pdf
2024.03 Strategic Resources_Pub (1). pdf
 
Stock Market Brief Deck FOR 3142024..pdf
Stock Market Brief Deck FOR 3142024..pdfStock Market Brief Deck FOR 3142024..pdf
Stock Market Brief Deck FOR 3142024..pdf
 
Islamic banking in Afghanistan from start until now
Islamic banking in Afghanistan from start until nowIslamic banking in Afghanistan from start until now
Islamic banking in Afghanistan from start until now
 
The Role of Non-Banking Financial Companies (NBFCs).pdf
The Role of Non-Banking Financial Companies (NBFCs).pdfThe Role of Non-Banking Financial Companies (NBFCs).pdf
The Role of Non-Banking Financial Companies (NBFCs).pdf
 
BIHC Briefing Greece March 2024, with Crédit Agricole CIB
BIHC Briefing Greece March 2024, with Crédit Agricole CIBBIHC Briefing Greece March 2024, with Crédit Agricole CIB
BIHC Briefing Greece March 2024, with Crédit Agricole CIB
 
Swift_Maintaining Critical Standards(...).pptx.pdf
Swift_Maintaining Critical Standards(...).pptx.pdfSwift_Maintaining Critical Standards(...).pptx.pdf
Swift_Maintaining Critical Standards(...).pptx.pdf
 
renaltumors upasana sahu Group 50.pptxism
renaltumors upasana sahu Group 50.pptxismrenaltumors upasana sahu Group 50.pptxism
renaltumors upasana sahu Group 50.pptxism
 
Pros and Cons of Interest-Only DSCR Loans
Pros and Cons of Interest-Only DSCR LoansPros and Cons of Interest-Only DSCR Loans
Pros and Cons of Interest-Only DSCR Loans
 
2024.03 Strategic Resources_Pub presentation
2024.03 Strategic Resources_Pub presentation2024.03 Strategic Resources_Pub presentation
2024.03 Strategic Resources_Pub presentation
 
Buy-Side Leaps Into Gen AI Era by Jasper Colin
Buy-Side Leaps Into Gen AI Era by Jasper ColinBuy-Side Leaps Into Gen AI Era by Jasper Colin
Buy-Side Leaps Into Gen AI Era by Jasper Colin
 
Mytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdf
Mytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdfMytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdf
Mytilineos (OW, TP_ €46.0_sh)_ Strong organic progress 14-03-2024.pdf
 
Closing Remarks International Women's Day 2024
Closing Remarks International Women's Day 2024Closing Remarks International Women's Day 2024
Closing Remarks International Women's Day 2024
 
14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdf
14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdf14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdf
14.11.2024 AMOO-MOCA African Creative Economy Summit London summary.pdf
 
Challenging Factors of Rural Women Entrepreneurs in West Bengal
Challenging Factors of Rural Women Entrepreneurs in West  BengalChallenging Factors of Rural Women Entrepreneurs in West  Bengal
Challenging Factors of Rural Women Entrepreneurs in West Bengal
 
Planning of societal re/production in a commonist society
Planning of societal re/production in a commonist societyPlanning of societal re/production in a commonist society
Planning of societal re/production in a commonist society
 
Stock Market Brief Deck FOR 31124 yt.pdf
Stock Market Brief Deck FOR 31124 yt.pdfStock Market Brief Deck FOR 31124 yt.pdf
Stock Market Brief Deck FOR 31124 yt.pdf
 
powerpoint presentation about asian regioonalism
powerpoint presentation about asian regioonalismpowerpoint presentation about asian regioonalism
powerpoint presentation about asian regioonalism
 

Project managment 10

  • 1. 4/3/2011 Project Management Knowledge Areas Section – 3 Chapter – 11 Project Risk Management  Session Objectives… 1. To identify the project Risk management knowledge area’s processes 2. How to plan Risk Management for the project 3. How to identify Risk 4. How to perform Qualitative Risk Analysis 5. How to perform Quantitative Risk Analysis 6. How to plan risk Responses 7. How to perform Risk Monitoring and Control 1
  • 2. 4/3/2011 Project Risk Management  Exam Objectives 1. Planning for Risk Management 2. Identifying Risks 3. Creating a Risk Register 4. Performing Qualitative Risk Analysis 5. Performing Quantitative Risk Analysis 6. Planning for Risk Responses 7. Monitoring and controlling Risks Project Risk Management  The Project Risk Management Knowledge area, discusses the processes of  Plan Risk management  Identify Risks  Perform Qualitative Risk analysis  Perform Quantitative Risk analysis  Plan Risk responses  Monitor and Control Risks 2
  • 3. 4/3/2011 Project Risk Management  What is Risk?  Risk is unplanned event or condition that can have a positive or negative effect on its success  Not all Risks are bad, and are seen as a Threat  Risk is uncertainty Plan Risk Management The process is to decide  How to approach  How to conduct  Risk management activities  Exam point to remember The objective of Risk Management Planning is to ensure that the level, type and visibility of Risk Management are commensurate with both the risk and importance to the project to the organization, to provide sufficient resources and time for risk management activities and to establish an agreed-upon basis for evaluating risks.  3
  • 4. 4/3/2011 Plan Risk Management • 1. Project Scope Statement • 2. Cost Management Plan • 3. Schedule Management Plan • 4. Enterprise Environmental Factors • 5. Organizational Process Assets Tools & Techniques • 1. Risk Management Plan • 1. Planning Meetings and Analysis Input Output Plan Risk Management  Inputs 1. Project Scope Statement 2. Cost Management Plan 3. Schedule Management Plan 4. Enterprise Environmental Factors 5. Organizational Process Assets 4
  • 5. 4/3/2011 Plan Risk Management Tools and Techniques 1. Planning Meeting and Analysis  Outputs 1. Risk Management Plan  Risk Management Plan  Contains…  Methodology  Roles and Responsibility  Budgeting  Timing  Risk Categories  Definitions of Risk Probability and Impact  Probability and Impact Matrix  Revised stakeholders’ tolerances  Reporting formats  Tracking 5
  • 6. 4/3/2011 Risk Categorization Risk Breakdown Structure  The Categories are  Technical  External  Organizational  Project Management  Risk Categorization Risk Breakdown Structure 6
  • 7. 4/3/2011 Plan Risk Management Probability : Is the chance that something is likely to happen  Ranked as “Very Unlikely” to “Almost Certainty”  Impact: The resultant of the probable event, is measured as impact  Negative for threats or  Positive opportunities  Ranked as “Very Low”, “Low”, “Moderate”, “High”, “Very High”  Probability and Impact Matrix Defined Conditions for Impact Scales of a Risk on Major Project Objectives Project Very Low Objectives / .05 Low / .10 Moderate / .20 High / .40 Very High / .80 Cost Time Scope Quality 7
  • 8. 4/3/2011 Probability and Impact Matrix  Legend - Watch list - Moderate - High Alert Defined Conditions for Impact Scales of a Risk on Major Project Objectives Probability/i / .05 mpact / .10 / .20 / .40 / .80 Very Low Low Moderate High Very High Identify Risk The process of  Identifying the Risks  Documenting their characteristics  The process is repetitive  8
  • 9. 4/3/2011 Identify Risk  Risks may be found 1. Budgets/funding 2. Schedules 3. Scope or requirement changes 4. Project plan 5. Project management processes 6. Technical issues 7. Personnel issues Identify Risk  Risks may be found 8. Hardware 9. Contracts 10. Political 11. Business risk 12. Legal 13. Environmental 9
  • 10. 4/3/2011 Identify Risk • • • • • • • • • • 1. Risk Management Plan 2.Activity Cost Estimates 3.Activity Duration Estimates 4. Scope Baseline 5. Stakeholder Register 6. Cost Management plan 7. Schedule Management Plan 8. Quality Management Plan 9. Project Documents 10. Enterprise Environmental Factors • 11. Organizational Process Assets Tools & Techniques • 1. Documentation Reviews • 2. Information Gathering Techniques • 3. Checklist Analysis • 4. Assumptions Analysis • 5. Diagramming techniques • 6. SWOT Analysis • 7. Expert Judgment • 1. Risk Register Output Input Identify Risk  Inputs 1. Risk Management Plan 2. Activity Cost Estimates 3. Activity Duration Estimates 4. Scope Baseline 5. Stakeholder Register 6. Cost Management Plan 10
  • 11. 4/3/2011 Identify Risk  Inputs 7. Schedule Management Plan 8. Quality Management Plan 9. Project Documents 10. Enterprise Environmental Factors 11. Organizational Process Assets Identify Risk  Tools and Techniques 1. Documentation Reviews 2. Information Gathering techniques  Brainstorming  Delphi technique  Interviewing  Root Cause Identification 11
  • 12. 4/3/2011 Identify Risk  Tools and Techniques 3. Checklist Analysis 4. Assumptions Analysis 5. Diagramming Techniques  Cause-and-Effect diagrams  System or Process Flow charts 6. SWOT Analysis 7. Expert Judgment Identify Risk  Outputs 1. Risk Register  List of identified Risks  List of Potential Responses  Root causes of Risks  Updated Risk Categories 12
  • 13. 4/3/2011 Perform Qualitative Risk Analysis Qualitative Analysis is a subjective approach to prioritizing risks.  According to probability and potential impact, identified risks are rated  The ranking categorizes into  That require additional analysis  That may proceed directly to risk response planning  That are not critical  And prioritizes risks  Perform Qualitative Risk Analysis • • • • 1. Risk Register 2. Risk Management Plan 3. Project Scope Statement 4. Organizational Process Assets Input Tools & Techniques • 1. Risk probability And Impact Assessment • 2. Probability and Impact Matrix • 3. Risk Data Quality Assessment • 4. Risk Categorization • 5. Risk Urgency Assessment • 6. Expert Judgment • 1. Risk Register • Updates Output 13
  • 14. 4/3/2011 Perform Qualitative Risk Analysis  Inputs 1. Risk Register 2. Risk Management Plan 3. Project Scope Statement 4. Organizational Process Assets Perform Qualitative Risk Analysis  Tools and Techniques 1. Risk Probability and Impact Assessment 2. Probability and Impact Matrix 3. Risk Data Quality Assessment 4. Risk Categorization 5. Risk Urgency Assessment 6. Expert Judgment 14
  • 15. 4/3/2011 Perform Qualitative Risk Analysis  Outputs  Updated Risk Register  Relative ranking or priority list of risks  Risks grouped by categories  List of risks requiring responses in the near term  List of risks for additional analysis and response  Watch-lists of low priority risks  Trends in qualitative risk analysis results Perform Quantitative Risk Analysis Quantitative Risk Analysis tries to numerically assess the probability and impact of the identified risks  The objectives of quantitative risk analysis are  Ascertain the likelihood of project success  Determine the risk exposure  Determine the likely amount of contingency reserve needed  Determine the risks with largest impact on the project  15
  • 16. 4/3/2011 Perform Quantitative Risk Analysis • 1. Risk Register • 2. Risk Management Plan • 3. Project Cost Management Plan • 4. Schedule Management Plan • 5. Organizational Process Assets Input Tools & Techniques • 1. Data Gathering And Representation Techniques • 2. Quantitative Risk Analysis And Modeling techniques • 3. Expert Judgment • 1. Risk Register • Updates Output Perform Quantitative Risk Analysis  Inputs 1. Risk Register 2. Risk Management Plan 3. Project Cost Management Plan 4. Project Schedule Management Plan 5. Organizational Process Assets 16
  • 17. 4/3/2011 Perform Quantitative Risk Analysis  Tools and Techniques 1. Data Gathering and Representation  Techniques  Interviewing  Probability Distributions  Expert Judgment Perform Quantitative Risk Analysis  Tools and Techniques  2. Quantitative Risk Analysis and Modeling  Techniques  Sensitivity Analysis  Expected Monetary Value Analysis  Decision Tree Analysis  Modeling and Simulation  3. Expert Judgment 17
  • 18. 4/3/2011 Perform Quantitative Risk Analysis  Outputs 1. Updated Risk Register  Probabilistic Analysis of the Project  Probability of Achieving Cost and Time Objectives  Prioritized list of quantified risks  Trends in Quantitative Risk Analysis Results Perform Quantitative Risk Analysis Buy or Build Decision Tree Analysis Decision Name Buy 200,000 Build 190,000 Probability of On-Time Completion Strong 85% Weak 15% Strong 75% Weak 25% 170,000 30,000 142,500 47,500 Best Decision 18
  • 19. 4/3/2011 Plan Risk Responses Risk response planning is all about options and actions  It involves activities  How to decrease the possibility of risks  How to reduce the impact of the risk if has to happen  Effectiveness of Risk Response will control number of risks that occur Exam Point:- Planned risk responses must be appropriate to the significance of the risk, cost effective in meeting the challenge, timely, realistic with the project context, agreed upon by all parties involved, and owned by a responsible person.  Plan Risk Responses • 1. Risk Management Plan • 2. Risk Register Tools & Techniques • 1. Strategies For negative risks or Threats • 2. Strategies for positive risks or Opportunities • 3. Contingent Response Strategies • 4. Expert Judgment Input • 1. Updated Risk Register • 2. Updated Project Management Plan • 3. Risk-related Contract Decisions • 4. Project Document Updates Output 19
  • 20. 4/3/2011 Plan Risk Responses  Inputs 1. Risk Management Plan 2. Risk Register Plan Risk Responses  Tools and Techniques  1. Strategies for Negative Risks or Threats  Avoid  Transfer  Mitigate  Accept 20
  • 21. 4/3/2011 Plan Risk Responses  Tools 2. 3. 4. and Techniques Strategies for Positive Risks or Opportunities  Exploit  Share  Enhance  Accept Contingent Response Strategies Expert Judgment Plan Risk Responses  Outputs 1. Updated Risk Register 2. Updated Project Management Plan 3. Risk – Related Contract Decisions 4. Project Document Updates 21
  • 22. 4/3/2011 Plan Risk Responses  Risk Transfer  Insurance  Performance Bonds  Warranty  Guaranty  Fixed-Price contracts Plan Risk Responses  Risk Mitigation  An effort to reduce the probability, impact or both of an identified risk.  Ex:  Developing prototypes, simulations.  Adding activities to reduce the risk probability or impact. 22
  • 23. 4/3/2011 Plan Risk Responses  Risk Acceptance  Is the process of simply accepting the risk because  No other option  Risk may be small probability, impact or both  Passive acceptance requires no action  Active acceptance requires developing a contingency plan if the risk occurs Plan Risk Responses Residual Risks  The remains of the risk after avoidance, transfer, or mitigation  Secondary Risks  The risks that are resulted from risk responses  Secondary Risk Risk Solution Secondary Risk` 23
  • 24. 4/3/2011 Monitor & Control Risks The process is for:  Monitoring identified risks triggers at the thresholds  Controlling identified risks with responses  Scouting for new risks that may creep up  The objectives are to  Confirm risk responses are implemented as planned  Determine if risk responses are effective or new responses are needed  Monitor & Control Risks  The objectives are to  Validate the project assumptions  Monitor risk triggers  Monitor for new risks  Confirm policies and procedures 24
  • 25. 4/3/2011 Monitor & Control Risks •1. Risk Management Plan •2. Risk Register •3. Approved Change requests •4. Work performance Information •5. Performance reports Tools & Techniques •1. Risk Reassessment •2. Risk Audits •3. Variance and Trends Analysis •4. Technical Performance Measurement •5. Reserve Analysis •6. Status Meetings Input •1. Updated Risk Register •2. Requested Changes •3. Recommended Corrective Actions •4. Recommended Preventive Actions •5. Updated Organizational Process Assets •6. Updated Project Management Plan Output Monitor & Control Risks  Inputs 1. Risk Management Plan 2. Risk Register 3. Approved Change Requests 4. Work Performance Information 5. Performance Reports 25
  • 26. 4/3/2011 Monitor & Control Risks  Tools and Techniques 1. Risk Reassessment 2. Risk Audits 3. Variance and Trend Analysis 4. Technical Performance Measurement 5. Reserve Analysis 6. Staff Meetings Monitor & Control Risks  Outputs 1. Updated Risk Register 2. Requested Changes 3. Recommended Corrective Actions 4. Recommended Preventive Actions 5. Updated Organizational Process Assets 6. Updated Project Management Plan 26
  • 27. 4/3/2011 Project Risk Management To Sum Up…. 1. We identified the project Risk management knowledge area’s processes 2. We know how to do Risk Management for the project 3. We know how to do Risk Identification 4. We know how to perform Qualitative Risk Analysis 5. We know how to perform Quantitative Risk Analysis 6. We know how to do risk Response Planning 7. We know how to perform Risk Monitoring and Control Questions ? 27