Week 2 Flashcards
What is risk?
Risk = Severity x Liklihood
The possibility of injury, loss, or damage
What are the three sources of risks?
Preventable: within the team’s ability to minimize and control (controlled)
Strategic: taken for the possibility of greater rewards (controlled)
External: Outside of the team’s control, but must be considered (non-controlled)
What are the risk catagories?
Safety: Relating to health and welfare of people and the environment
Technical: Related to design and manufacturing that prevent the device from working as intended
Project management: Relating to completing the project on time and on budget
Operational: Relating to decision-making and operation of the organization or device
What is a risk classification table (not risk matrix!)?
Put the sources of risk on top and the categories of risk on the side
You then get a 3x4, with risks like
external safety,
preventable technical,
strategic safety (WHICH SOULD NEVER BE DONE
etc.
What are the 4 broad approaches to risk management?
Avoid: the best strategy. change what you are doing to remove the risk.
Mitigate: minimize the likelihood or severity of the risk
Transfer: pass the risk onto someone else (e.g. insurance)
Accept: Be willing to live with the consequences
What is a risk Matrix?
Severity is on the x-axis and likelihood on the y-axis
put the from a scale of 1-5 (or whatever, as long as the x and the y axis are equal)
Multiple the severity rating by the likelihood rating to get the overall risk rating
1-3 is usually fairly tame (no action)
3-12 usually requires monitoring / some action
12-20 requires action / reduction measures
20-25 requires immediate addressing!
What are the steps of risk management process?
Identify risks (classification table)
conduct risk analysis (severity / likelihood)
Risk matrix (ask yourself is the risk is acceptable or not)
If the risk is acceptable, monitor and manage risk
If the risk is not acceptable, reduce the risk and re-evaluate the risks (identify risks)
if you cannot reduce the risk, DISCONTINUE the project
What are the two dimensions in Tuckman’s stages of team development?
Team relationship:
polite & Uncertain -> Open & Trusting
Task completion:
No work being done -> Good quality/quantity
What are the four stages to Tuckman’s Team development Model?
Forming
Storming
norming
Performing
What happens in the forming stage?
Politeness, uncertainty, optimism
- SOME WORK BEING DONE, but team strengths aren’t utilized
- desire to avoid conflict / controversy
- Usually independent work
What happens in the storming stage?
tension, disagreement of priorities, stress
- People are more open to speak their mind
- but QUANTITY AND QUALITY OF WORK DECREASES due to disagreements, power struggles, etc.
What happens in the norming stage?
Consensus built, roles established, standards set
- QUANTITY AND QUALITY INCREASES ABOVE PREVIOUS 2 STAGES
What is the performing stage?
Successful performance, openness, trust established
- MOST AND BEST WORK NOW BEING COMPLETED
When / which stages do conflicts appear?
Conflicts appear throughout all stages, not just storming
How do groups at each stage of Tuckman’s model usually handle conflict?
Forming: avoid conflict and any conflict that arise is ignored
Storming: conflict is in open. impedes work agility and creates stress
Norming / Performing: conflict is dealt with quickly and efficiently, in a way that doesn’t impede group dynamic / work output
