1. Stacy Taylor President stacy@red-mt.com
“There is no such thing as a dragon” A few quick techniques to add to your arsenal for common sense risk management
Stacy Taylor
President
Laura Lott
COO and Senior Consultant

2. Stacy Taylor President, Red Mountain Services
Laura Lott COO & Senior Consultant, Red Mountain Services

4. Risk Identification

5. Risk identification technique
Brainstorming
5-10 minutes for each team member to write a list of risks they feel the project is facing
Round robin, ask each member to contribute 1 idea
Keep going around the room until ideas are exhausted
No discussion, just add each idea to the flip chart/shared Word doc

6. Idea List Contracts held up in legal delay the start date Power is out
Resource is out unexpectedly on medical leave
New technology appears that outdates solution
Only one team member knows the technology
A dragon appears
Price increase for contractors
Vendor compensation not tied to project milestones

7. Mom!

8. Prioritize Contracts held up in legal delay the start date***
Power is out
Resource is out unexpectedly on medical leave***
New technology appears that outdates solution
Only one team member knows the technology***
A dragon appears***
Price increase for contractors
Vendor compensation not tied to project milestones***

9. Do Nothing

10. Denial is a powerful thing

11. Risk Reserve Techniques
If then strategy
Calculating a risk reserve

12. Idea List
If Contracts held up in legal delay the start date then resources allocated to start on that date may be put on other projects
If Resource is out unexpectedly on medical leave then inadequate resources will be assigned to those tasks
If Only one team member knows the technology then project schedule will slip for every day they are unavailable
If A dragon appears then it may extend cleaning time of the house
If Vendor compensation not tied to project milestones then vendor may not work overtime if needed

13. Management Reserve

14. Crisis Management

15. Crisis Management Technique
Open Conference Line
War Room Implementation
Communicate Often

16. Coming to terms with risk

17. Risk Reporting Technique
Dashboard
Quadrant
Risk Log

18. Risk Quadrant Technique
High Impact
Low Probability
High Probability
Low Impact 1
Impact 3 2 4 5
Probability

19. The takeaways

20. Kent, Jack (1976) There’s No Such Thing as a Dragon
References
Kent, Jack (1976) There’s No Such Thing as a Dragon

21. More Information Stacy Taylor stacy@red-mt.com Laura Lott