Risk management Flashcards
Risk management
Plan risk management (Planning)
Identify risks (Planning)
Perform qualitative risk analysis (Planning)
Perform quantitative risk analysis (Planning)
Plan risk responses (Planning)
Implement risk responses (Executing)
Monitor risks (Monitoring & Controlling)
Plan risk management (Planning) 1st
-defining how to conduct risk management activities for a project
Output: Risk management plan
Plan risk management (Planning) 1st
Risk management plan
-Methodology : approach, tools and data sources will be use to perform risk management
-Roles and responsibilities : 邊個做
-Budgeting : (Contingency & management reserve)
-Timing: 幾時CHECK 一次RISK
-Risk categories : Grouping potential cause of risk
-definitions of risk probability and impact
-Stakeholder 條界線
-Reporting format
-Tracking ( risk activities 點樣record)
Identify risks (Planning) 2nd
-風險分類
-Which risks may affect the project
-一開始辨認風險係high level, Planning 都會做, 一路做project, 新風險會發現
Output:
Risk register
Identify risks (Planning) 2nd
Tools and techniques
- Documentation reviews
睇下charter, contracts, planning, assumptions 有無risk) - Information gathering techniques
- Brainstorming
- Delphi technique : 達到experts consensus 專家共識
- Interviewing
- Root cause analysis
- Checklist analysis
- Assumption analysis ( Check 下D assumption 岩唔岩)
5.Diagramming technique ( Cause and effect / process flow chart )
6.SWOT analysis - Expert judgment
Identify risks (Planning) 2nd
Risk register
-List of identified risks
-List of potential response (點樣處理風險)
-Root cause of risk
-Update risk categories
Perform qualitative risk analysis (Planning) 3rd
-定量分析, 定風險次序
Output:
1. Risk register update
-風險出現機率同影響有幾大
-風險ranking, urgency
-Watchlist ( 觀察名單, 不太重要既風險)
- Assumption log updates
Perform qualitative risk analysis (Planning) 3rd
Tools
- Probability and impact matrix
Sort risks - Risk data quality assessment
Evaluate 下D風險Data 係咪對risk management 有用 - Risk categorization ( 分類後方便排除)
- Risk urgency assessment
Perform quantitative risk analysis (Planning) 4th
定量分析, 量化衝突有幾大
- Determines cost and schedule reserves
Output:
Risk register update
-Project 的概率分析( Possible completion date, costs with confidence levels)
-次序先後
-機會可achieving cost and time objectives
Perform quantitative risk analysis (Planning) 4th
Tools and techniques
- Interviewing
- Probability distributions
- Sensitivity analysis / Tornado diagram ( Which risks have the most potential impact on the project)
- Expected monetary value (EMV) analysis( $$$$ X 機會率) + ( $$$$ X 機會率)
- Modeling and simulation
- Expert judgment
Plan risk responses (Planning) 5th
-Developing options and actions to enhance opportunities and reduce threats
-如果threats 唔能夠排除, 準備contingency plan
Output:
Project management plan update ( 包括所以management plan, Baseline)
Risk register updates
Project document update
Plan risk responses (Planning) 5th
Strategies for Neg. risk (Threats)
- Escalate - PM 話唔到事, 所以要搵老世
- Avoid - 避免佢出現, 唔識做唔做
- Transfer - 公司唔識做, 搵出面識做既人做
- Mitigate - 迫於無奈硬接, 將程序簡化
- Accept -接受, 寫低RISK 就算, 建立contingency reserve
Plan risk responses (Planning) 5th
Strategies for Positive risk (Opportunities)
1.Escalate - PM 話唔到事, 所以要搵老世自己傾
2.Exploit - 增加成功機會 ( 不增加成本)
3.Enhance - 增加資源去增加成功機會
4.Share - 搵3rd party , etc joint venture
5.Accept- 接受, 建立contingency reserve
Implement risk responses (Executing) 6th
-實行個PLAN
Output:
Change requests
Project documents update
Monitor risks (Monitoring & Controlling) 7th
Tools
- Risk reassessment
發現新風險, 重新評估現在的風險, close outdated 風險 - Risk audits
- Variance and trend analysis
compare planned results to actual results - Technical performance measurement
- Reserve analysis
- Meeting
