Risk Management
Table of contents 1. What is Risk Management? 2. Steps 3. Plans 4. Identifying risks 5. Qualitative risk analysis 6. Quantitaitve risk analysis 7. Risk responses 8. Risk Controlling
What is Risk management? Project risk management is the art and science of identifying, analyzing, and responding to risk throughout the life of a project and in the best interests of meeting project objectives Main steps include: Plan risk management Identify risks Perform qualitative risk analysis Perform quantitative risk analysis Plan risk responses Control risks
Steps Planning risk management : Deciding how to approach and plan the risk management activities for the project Identifying risks: Determining which risks are likely to affect a project and documenting the characteristics of each Performing qualitative risk analysis: Prioritizing risks based on their probability and impact of occurrence Performing quantitative risk analysis: Numerically estimating the effects of risks on project objectives Planning risk responses: Taking steps to enhance opportunities and reduce threats to meet project objectives Controlling risk: Monitoring identified and residual risks, identifying new risks, carrying out risk response plans, and evaluating the effectiveness of risk strategies throughout the life of the project
Plans Contingency plans are predefined actions that the project team will take if an identified risk event occurs Fallback plans are developed for risks that have a high impact on meeting project objectives, and are put into effect if attempts to reduce the risk are not effective
Identifying risks Identifying risks is the process of understanding what potential events might hurt or enhance a particular project Tools: Brainstorming The Delphi Technique Interviewing SWOT analysis
Performing Qualitative Risk Analysis Assess the likelihood and impact of identified risks to determine their magnitude and priority Risk quantification tools and techniques include: Probability/impact matrixes The Top Ten Risk Item Tracking
Performing Quantitative Risk Analysis Large, complex projects involving leading edge technologies often require extensive quantitative risk analysis Main techniques include: Decision tree analysis Simulation Sensitivity analysis
Planning Risk Responses Four main response strategies for negative risks: Risk avoidance Risk acceptance Risk transference Risk mitigation
Controlling Risks Involves executing the risk management process to respond to risk events and ensuring that risk awareness is an ongoing activity performed by the entire project team throughout the entire project Main outputs of risk control are: Work performance feedback Changing requests Updates in the project or in the organization
SOFTWARE TOOLS IN P.M.
Sw Tools in PM IT tools are programs, applications or just instructions used to perform other tasks more easily. A tool is any program or instruction that facilitates a task, also it could be hardware or accessories that act as tools.
TYPES Each tool is created and designed for one or more specific functions, and therefore we can talk about different types of tools depending on the field. Types of tools: AgileTrack Gantt PV DotProject Open Workbench Microsoft project
OBJECTIVES Improve productivity of software. Increase software quality. Reduce the time and cost of development and maintenance of computer systems. Improve project planning. Automate software development, documentation, code generation, testing errors and project management. Reusing of software, portability and standardization of documentation. Global management in all phases of software development with the same tool. Facilitate the use of different methodologies
functions Project management software is responsible for planning the entire process of product development. It is also responsible for tracking work so that established standards met. Use of well-defined methodologies. Make repeatable and reliable measurements . Estimate of cost and time. Give elements for project management . Restates results to adjust the information available