P2 - Themes 3 Flashcards
Risks must be….
Identified
Assessed
Controlled
What is the Risk Register and what are the headings?
(Initiating a Project)
Records Threats / Opportunities
- Identifier
- Author
- Date
- Category
- Description
- Probabilty / Impact / Value
- Proximity (when)
- Response Category
- Response (details)
- Status
- Owner
- Actionee
Risk Response Categories (Threats & Opportunities)
Threats
- Action to Avoid
- Action to Reduce (prob/impact)
- Fallback Plan (if risk occurs)
- Transfer (insurance)
- Accept
- Share
Opportunities
- Enhance
- Exploit
- Share
- Reject
Risk Management Steps
Identify
Assess
Plan
Implement
Communicate
What 3 risk elements need to be identified and what are the 5 Techniques to identify these?
Cause
Event
Effect
5 Techniques
- Review Lessons
- Checklists (internal)
- Prompt Lists (external)
- Brainstorming
- Breakdown Structures
What factors does Risk Assessment measure & what is the Probability Impact Grid?
Probability
Impact
Proximity (when)
Grid = Probability x Impact
Who has which Risk Responsibilities?
Corporate Mgmt (risk policy / manual)
Project Exec (overall project risk responsibility)
Senior User / Supplier (identify/assess/control)
Project Mgr (Risk Mgmt Strategy / Register)
Project Support (suporting PM)
Project Assurance (compliance to strategy)
What is the Configuration Management System?
Baselines products
Version Control
Integrated with Issue & Change Control
What are the Configuration Mgmt Steps?
Planning
Identification (of products)
Control (baselining and change contol)
Status Accounting
Verification
What are Issues?
Anything that could result in change
- Request for Change (to baseline)
- Off Specification (forecast not to be delivered to Spec)
- Problem or Concern (anything else requiring Project Mgr attention)
What are the Change Mgmt Products?
(Defined during Inititating a Project)
Change Mgmt Strategy
Configuration Item records (version control)
Product Status Account
Daily Log
Issue Report (formally raised)
Issue Register
What are the Change Control Steps?
Capture (Daily Log, Risk Report)
Examine (Impact Analysis)
Propose
Decide
Implement (Exception Report)
Progress controls can be either….
Progess measured against Plan
Time Driven
Checkpoint Reports
Highlight Reports
Event Driven
Exception Plans
Work Package approvals
What Managment Controls does each Managment level use?
Project Board (detail from Project Mgr)
- Authorisations (Initiation, Project, Stage, Closure)
- Highight Reports
- Exceptions Reports
- Issues Reports
Project Manager (detail from Team Manager)
- Authorisations (Work Packages)
- Progress Updates (Checkpoint Reports)
- Exceptions / Changes (Logs & Registers)
What Tolerances are set by each management level?
(Managing by Exception)
- Corporate Mgmt set overall tolerances
- Board refer to Corporate if potential breach (Request for Advice)
- Project Board set for each stage
- PM refers to Board if potential breach (Exception Report)
- PM sets for work packages
- TM refers to PM if potential breach (Issue)
Each Level has day to day control within set tolerences
