Project Risk Management

Process Inputs T&T K.W & Short Explain Outputs

Project Charter Expert Judgement Risk Management Plan

Project Management Plan Data Analysis Stakeholder Analysis Roles & Responsibilties , Timing ,
Project Documents Meeting Methodology , Funding , Risk Strategy ,
Plan Risk Management EEF Risk Category ( RBS ) , Definitions
OPA of risk probabilities and impacts ,
probability and impact matrix , tracking,
Reporting formats , Stakeholder appetite
Project Management Plan Expert Judgment Risk Register
Project Documents Dta Gathering list of identified risks
Agreements Brainstorming , Interview list of potential risks owners
Procurements Documentation Checklist list of potential risk responses
EEF Data Analysis Risk Reports
Root Cause Analysis discover the underlying causes
OPA sources of overall project risk
Identify Risk and develop preventive action
Assumption & Constraint Analysis number of identified threats and opportunities
SWOT Analysis Strength Weekness Opportunity
risk categories , metrics and trends
Threats
Document Analysis
Prompt List used as a framework to aid project
team in idea generation
Project Management Plan Expert judgment Project Documents Updates
Project Documents Data Gathering Assumption log

EEF Data Analysis Issue log

Evaluate the degree to which the
OPA Risk Data Quality Assessment data about risks is accurate and Risk Register
reliable
Perform Qualitative Risk Risk Probability and Impact Assessment Considers the likelihood that a
Risk Report
Analysis specific risk will occur
Risk Categorization Focuses attention and effort on the
areas of highest risk exposure
Data Representation
Rate the risk as low , moderate or
high ,, and helps finding risks need
Probability and Impact Matrix immediate response or additional
analysis or need to be put on the
watch list
Project Management Plan Expert Judgment Project Documents Updates
Project Documents Data Gathering
EEF Interpersonal and Team Skills
OPA Representationsof Uncertaily
Data Analysis
Computer Software is used to
iterate the quantitative risk
Simulation ( Mont Carlo Analysis )
analysis model several thousand
Perform Quantitative Risk times
Analysis determine the project individual
project risks or other sources of
Senestivity Analysis ( Tornado Diagram ) uncertainty have the most
potential impact on project
outcomes
used to support selection of the
best of several alternative courses
Decision Tree Analysis
of action ,, Expected Monetary
Value ( EMV ) = P * I
Plan Risk Response Project Management Plan Expert Judgment Risk Register
Project Documents Dta Gathering
EEF Interpersonal and Team Skills
OPA Strategies For Threats Notes :-
Fallback Plans : For use when a risk that
when project team or project had occurred and primary response
sponsor agrees that a threat is proves to be inadequate .
outside the scope of the project , it
Escalate
will exceed the project manager's
authority and are managed at the
prgrame or portfolio level and not
on the project level
eliminate the threat or protect the Residual Risks : That are expected to
project from its impact ,,,changing remain after planned responses have been
Avoid
the PMP ,, Extend the Schedule ,,, taken , as well as those that have been
Reduce Scope deliberately accepted
Shift the impact of a threat to third
Transfer party ,,,, insurance,,,, Contracts ,,,
Fix Price
Reduce the probability of Secondary Risks : That arise a direct
occurrence or ipact of a risk ,,, outcome of implementing a risk response
Mitigate
Conducting More tests ,,,, choos a
more stable supplier
Risk acceptance acknowledge the
Accept existence of a threat but no
proactive action is taken
establish a contingency reserve
Active Acceptance including amounts of time , money
or resources
Passive Acceptance no proactive action
Strategies For Opportunities
Escalate
selected for high priority
opportunities wher the
Exploit
organization wants to ensure that
the opportunity is realized .
Transferring ownership of an
Share opportunity to a third party ,,, jont
ventures
used to increase the probability or
Enhance impact of an opportunity ,,, adding
more resources
Accept
Plan A is Contingency Plan is the
primary risk response plan // Plan
Contingent Response Strategy B is Fall back Plan which
implemented when Plan A fails or
isn't fully effective
Strategies for Overall Project Risk

Eng. Moemen Barakat , PMPⓇ , Fidic 2017 , 6Sigma Avoid ---Exploit ---Transfer/Share ---
, Business Continuity Mitigate/Enhance ----Accept
Mob : +966/545669454
 Project Management Plan Expert Judgment individuals or groups Change Request
Project Documents Interpersonal and Team Skills ( influencing ) Project Documents Updates
can include schedule , resource Risk Register
OPA PMIS and cost software to ensure that
Implement Risk Response
agreed upon risk response plan
Risk Reports
Lesson learned

Project Management Plan Data Analysis Change Request

Compares the amount of the Project Documents Updates

Reserve Analysis contingency reserves remaining to

Project Documents
the amount of Risk remainingat
any time in the project
NOTE :: Review a Workaround : it is a action
Monitor Risks
taken whenunidentified risk or passive
Audits used to consider the effectiveness
Work Performance Data accepted Risk Suddenly occurred , it use
of the risk management process management reserve if it applicated to
Unidentified Risk if occurred , use Contingency
Work Performance Reports Meeting Reserve if it applicated to Passive Accepted
Risk Reviews Risk if occurred , it hasn't any plan

Risk Categories ( RBS ) SWOT Analysis Prompt List

Probability and Impact Matrix

Mont Carlo Analysis ( Simulation ) Enhancs VS Exploit

Tornado Diagram ( Sensitivity Analysis )

Decision Tree Analysis

Eng. Moemen Barakat , PMPⓇ , Fidic 2017 , 6Sigma , Business

Continuity
Mob : +966/545669454 Let’s Think & Discuss