March Ltd - SERTECSA
Download
Report
Transcript March Ltd - SERTECSA
MARCH
Risk Management
Introduction
Generic approach
Type of project
The length of the project
Experience of the risk manager
The attitude of senior management
Project versus Risk management
See also The Complete Project Management Package in this series
Client versus contractor
Risk management culture
Limitations
1
MARCH
Risk Management
What is risk?
Uncertainty
Risk versus issue
Tight objectives
Plan
• All projects involve RISK
• RISK versus REWARD (benefits)
• Margins and contingency
Will a project succeed?
• Is the end date feasible?
• Milestones deliverable
• Individual tasks correct
6 basic questions requiring an answer
opportunities
2
MARCH
Risk Management
6 questions to define the project
•Who?
•Why?
•What?
•How?
•Resource?
•When?
3
MARCH
Risk Management
The key areas of concern.
COST
SCHEDULE
REVENUE
4
MARCH
Risk Management
Why carry out Risk Assessment?
Is the project too risky?
Threat intensity?
RISK
COST
COST
RISK
Improve decision making
Clarification of terms
Targets
Expected values
Commitments
Documentation
5
MARCH
Risk Management
What should risk analysis provide?
Time - must leave time for corrective action
Priorities - limited resource will dictate
Aggregation - allows overall summary of
individual risks
Decision making - better informed
Realistic attitude to the project - objective
6
MARCH
Risk Management
3 Ways to view risk management
RM
RM
Risk Management is
the reason for Project
Management
PM
PM
PM
Risk Management
permeates all of
Project Management.
RM
Risk management
supports Project
Management
7
MARCH
Risk Management
General comments on risk assessment
Broad range of risks - by impact and likelihood
Could be a simple matter of assigning resource
May require formal risk assessment:
Classify as high, medium and low
Use of mathematical models
How much effort do we use?
Minimum needed to give a meaningful result
8
MARCH
Risk Management
Accountability
Accountability of risks cannot be shared
Who will be accountable?
9
MARCH
Risk Management
Stakeholders
Identify those whose views matter
Consider both customer and supplier views
Think about the priorities of the users
10