Presentation is loading. Please wait.

Presentation is loading. Please wait.

11.2 Identify Risks The process of determining which risks may affect the project and documenting their characteristics This is an interactive process.

Published byLeo Lewis Taylor Modified over 8 years ago

Similar presentations

Presentation on theme: "11.2 Identify Risks The process of determining which risks may affect the project and documenting their characteristics This is an interactive process."— Presentation transcript:

1 11.2 Identify Risks The process of determining which risks may affect the project and documenting their characteristics This is an interactive process as new risks may evolve or become known during the project Participants in risk identification activities can include – Project Manager and Project Team Project Sponsor and Stakeholders Risk management experts Customers Subject Matter Experts Other Project Managers Occurs during Planning Initiation Planning Execution Close Monitor Control Adapted from PMBOK 4th Edition

2 11.2 Identify Risks Inputs to Identify Risk Risk Management Plan
Activity Cost Estimates Activity Duration estimates Scope Baseline Stakeholder Register Cost Management Plan Schedule Management Plan Quality Management Plan Initiation Planning Execution Close Monitor Control Adapted from PMBOK 4th Edition Adapted from PMBOK 4th Edition

3 11.2 Identify Risks Inputs to Identify Risk (continued)
Project Documents – Assumptions Log Work performance reports Requirements Enterprise Environmental Factors - Research and publications External Risk Management Standards Checklists and Benchmarks Industry studies Risk Attitudes Organisational Process Assets - Project Files Risk Management Templates Lessons Learnt Standard risk categories Lists of standard risks Initiation Planning Execution Close Monitor Control Adapted from PMBOK 4th Edition Adapted from PMBOK 4th Edition

4 11.2 Identify Risks Tools and techniques for identifying risk include - Questionnaires Interviews and Surveys Documentation Reviews Brainstorming Workshops Root Cause Analysis System or Process Flowcharts Assumptions Analysis Risk Checklists Cause & Effect Diagrams SWOT Analysis Expert Judgement Influence Diagrams Risk Categories Lessons Learnt Industry Risk Frameworks Adapted from PMBOK 4th Edition

5 11.2 Identify Risks Risk Checklists & Questionnaires
Many organisations and certain industries have standard risk checklists and questionnaires that assist with the identification of the overall risk on a project, as well as the specific risks that may be applicable Assumptions Analysis Any assumptions that have been documented during the planning processes need to be analysed and included in the Risk Log. If any assumption does not prove to be true there will be impacts to project objectives, the risk of assumptions proving untrue must be evaluated. Risk Categories Many organisations and certain industries have standard risk categories which help to ensure that all risk areas are reviewed when undertaking risk planning

6 11.2 Identify Risks SWOT Analysis Expert Judgement
Standard approach used to identify risks and opportunities during business planning and marketing activities. Can also be applied to project risk identification. Involves the identification of an organisations Strengths, Weaknesses, Opportunities and Threats. Weakness and Threats may need to documented in project risk logs. Expert Judgement Many organisations will have specialised risk management teams that can provide expert assistance to projects in the planning and identification of risks. In very risky projects it may also be helpful to consult external subject matter experts. Industry Risk Frameworks Some industries, particularly Construction and Defence, have standard risk frameworks which are extremely helpful to project risk management.

7 Sample column headings in a typical Risk Register
11.2 Identify Risks Outputs of this process include – Initial entries on the Risk Register List of identified risks Potential risk owners List of potential responses Sample column headings in a typical Risk Register Risk ID Risk Category Risk Description Risk Owner Likelihood Impact Risk Rating Management /Mitigation Strategies Residual Likelihood Residual Impact Residual Rating Status Priority Adapted from PMBOK 4th Edition

8 Inclusions in Risk Register during Planning
Risk ID Risk Category Risk Description Risk Owner Likelihood Impact Risk Rating Management /Mitigation Strategies Residual Likelihood Residual Impact Residual Rating Status Priority Risk Id Can be a simple as a number May relate to the risk category Used as a unique identifier may be an internal standard Risk Description Plain English explanation of the risk One to two sentences in length Ensures common understanding Risk Category Can be taken from industry frameworks Can be set at internal standards May need to be developed/tailored Ensures identification of all risks Assists with monitoring and control Risk Owner A specific person or role Ensures clear ownership of the risk Responsible for monitoring & control Adapted from PMBOK 4th Edition

Download ppt "11.2 Identify Risks The process of determining which risks may affect the project and documenting their characteristics This is an interactive process."

Similar presentations

Project Management Gaafar 2007 / 1 This Presentation is uses information from PMBOK Guide 2000 Project Management Risk Management* Dr. Lotfi Gaafar.

Project Management Gaafar 2007 / 1 This Presentation is uses information from PMBOK Guide 2000 Project Management Risk Management* Dr. Lotfi Gaafar.
BSBPMG508A Manage Project Risk 11.3 Perform Qualitative Risk Analysis Adapted from PMBOK 4 th Edition InitiationPlanning ExecutionClose Monitor Control.

BSBPMG508A Manage Project Risk 11.3 Perform Qualitative Risk Analysis Adapted from PMBOK 4 th Edition InitiationPlanning ExecutionClose Monitor Control.
Project Risk Management

Project Risk Management
Proprietary and confidential. © 2006 Perot Systems. All rights reserved. All registered trademarks are the property of their respective owners. www.perotsystems.com.

Proprietary and confidential. © 2006 Perot Systems. All rights reserved. All registered trademarks are the property of their respective owners.
10.5 Report Performance The process of collecting and distributing performance information, including status reports, progress measurements and forecasts.

10.5 Report Performance The process of collecting and distributing performance information, including status reports, progress measurements and forecasts.
BSBPMG501A Manage Project Integrative Processes 4.3 Direct and Manage Project Execution This is the process of performing the work defined in the project.

BSBPMG501A Manage Project Integrative Processes 4.3 Direct and Manage Project Execution This is the process of performing the work defined in the project.
Managing Project Risk.

Managing Project Risk.
Project Management based on the Project Management book of knowledge Risk Identify, analyse and respond to risks Resources Make most effective use of human.

Project Management based on the Project Management book of knowledge Risk Identify, analyse and respond to risks Resources Make most effective use of human.
10.1 Identify Stakeholders

10.1 Identify Stakeholders
Managing Project Risk.

Managing Project Risk.
BSBPMG506A Manage Project Human Resources 9.1 Develop Human Resource Plan The process of identifying and documenting project roles, responsibilities, required.

BSBPMG506A Manage Project Human Resources 9.1 Develop Human Resource Plan The process of identifying and documenting project roles, responsibilities, required.
10.2 Plan Communications The process of determining the project stakeholder information needs and defining a communication approach Plan Communication.

10.2 Plan Communications The process of determining the project stakeholder information needs and defining a communication approach Plan Communication.
PRM 702 Project Risk Management Lecture #28

PRM 702 Project Risk Management Lecture #28
Project Risk Management. The Importance of Project Risk Management Project risk management is the art and science of identifying, analyzing, and responding.

Project Risk Management. The Importance of Project Risk Management Project risk management is the art and science of identifying, analyzing, and responding.
4.2 Develop Project Management Plan

4.2 Develop Project Management Plan
Chapter 10 Contemporary Project Management Kloppenborg

Chapter 10 Contemporary Project Management Kloppenborg
BSBPMG407A Apply Risk Management Techniques 1 Apply Risk Management Techniques Project Risk Processes Part 2 C ertificate IV in Project Management 17871.

BSBPMG407A Apply Risk Management Techniques 1 Apply Risk Management Techniques Project Risk Processes Part 2 C ertificate IV in Project Management
BSBPMG508A Manage Project Risk 11.4 Perform Quantitative Risk Analysis Adapted from PMBOK 4 th Edition InitiationPlanning ExecutionClose Monitor Control.

BSBPMG508A Manage Project Risk 11.4 Perform Quantitative Risk Analysis Adapted from PMBOK 4 th Edition InitiationPlanning ExecutionClose Monitor Control.
BSBPMG502A Manage Project Scope Manage Project Scope Project Scope Processes Part 1 Diploma of Project Management 17872 Qualification Code BSB51507 Unit.

BSBPMG502A Manage Project Scope Manage Project Scope Project Scope Processes Part 1 Diploma of Project Management Qualification Code BSB51507 Unit.
Manage Project Communication Project Communication Processes – Part 1 Diploma of Project Management 17872 Qualification Code BSB51507 Unit Code BSBPMG507A.

Manage Project Communication Project Communication Processes – Part 1 Diploma of Project Management Qualification Code BSB51507 Unit Code BSBPMG507A.

Similar presentations

Ads by Google