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By
Ileanna Lpez, PMP
February, 24, 2011
How We Manage Risk?
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Definitions
Types of Risks Examples of Risk Management
Risks in others Methodologies andFrameworks
What this means for us? (Project Managers)
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Risk
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Types of Risk Management
Financial Risk Management
Operational Risk Management
Risk Management and Insurance
Credit Risk Management
Market Risk Management
Quantitative Risk Management Technology Risk Management
October 28 and 29, 2010 4
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Types of Risk Management
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Types of Risk
Integrated Risk Management
Nonprofit Risk Management
Bank Risk Management
Commodity Risk Management
Currency Risk Management
Software Risk Management Enterprise Risk Management
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Threat or a Issue?
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Issue
Project issue could conclude in either;General Issue; problem with the supplierRequest for Change; alteration of the program planOff-Specification; missing product or failure of productBusiness Process Improvement; suggest a improvement of the
current business process or suggest a new requirement.
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Project Management IssuesIssue Consequences
Insufficient and invalidinformation
Poor visibility
Poor planning
Poor milestone tracking
Disparate sources ofinformation Difficult to capture project-related metrics
Managing CustomerExpectations
Inadequate requirements
Poor milestone tracking
Poor level of quality
Poor Communication Poor change controlInefficient team collaboration
Funding
Iterative delivery of incremental value is usually foreign to thebusiness
The business wants to understand the costs upfront
Incremental funding requires business change
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Lessons Learned
When identifying lessons learned, our goal should beto identify what went well, what didn't go well, andwhy.
So Why We dont do it?
Two common problems preventing us learning
valuable lessons from past projects: We think the lessons don't apply to us.
We want to get things done
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How we Manage Risks?
PMIPR 2010 Symposium 11
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Project Risk Template
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B f E l t
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Before Escalate
Analyze
How urgent is the decision needed?
How do any relevant contracts handlechanges?
What would have to change? (and what willthe ripple effect be of the change?)
What effort does the change require in terms ofpeople, cost, time and other resources?
Is there a separate change budget, does thischange meet the criteria?
What impact will the change have on thesupplier, customer and the business?
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Accidents
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Accidents/Incident
An accident is a undesirablehappening that occurs
unintentionally and usually result inharm, injury, harm, damage orloss.
Accidents are investigated toidentify how to avoid them in thefuture.
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Risk in othersmethodology
ECM P j t D li
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ECM Project DeliveryMethodology (EPDM)
Developed to meet the challenges of EnterpriseContent Management program design anddeployment
A repeatable, industry-leading approach tosolutions and services
Scalable to a range of projects
Anticipate and mitigate risk
High quality delivery and customer satisfaction
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Project Management Framework (EPDM Tier 1)
Executing
Scope (Change) Management Status Reporting Delivery Manager Review Country Manager/ Regional
Director Reviews
Stage Gate Review Cost & Revenue Management Issue/Risk Management Schedule Management Resource Management Stakeholder Management
Initiating
Custome
r
Project Signoff Acceptance criteria met Client Feedback / Lessons learned Project Archival Project Staff Appraisals Update appropriate skills matrix and Resum Harvest reusable materials Follow-on opportunity Customer reference
Controlling/Monitoring
Closing
Ensure Delivery Managementengaged
PM Engaged Knowledge Transfer Produce Charter, inc.
- Governance / escalation- Deliverables checklist
Stakeholder Analysis Team Assigned Internal Kickoff
Refine Work BreakdownStructure
Refine Project Life-cycle Project Planning
- inc. Resources and Schedule Communication Plan
Risk Plan Issue (Escalation) Plan Scope (Change) Plan Quality Planning All hands kick off
Execute Plan Utilize Reusable Assets Complete Work Packages Create Reusable Assets Use Project Type Specific Practice
Materials
Deliverables
DeliveryMana
gementandProgramManagement:GovernanceandQu
ality
Administrative Sales &Bus. Ops - closureprocesses complete.
Sales & Bus. Ops -
Contractual initiationprocesses complete.
Bus. Ops Billings &Invoicing Processes.
ProjectGates
Planning
Reference This figure is from Section 6.7 of the EPDM Quick Reference Guide 2007 EMC Corporation
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01 de Marzo de 2011Ileanna Lpez 21
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Enterprise Risk Management
Benefits;Ability to define the risk appetite of the organizationand make strategic decisions that are risk adjustedand aligned to the business.
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Risk IT Integrate the
management of IT riskinto the overall ERM ofthe organization
Make well-informeddecisions about theextent of the risk (therisk appetite and the risktolerance
Understand how torespond to the risk
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Risk Response
Definition
The purpose of defining a riskresponse is to bring risk inline with the defined risktolerance for the enterprise.
In other words, a responseneeds to be defined suchthat future residual risk is as
much as possible within risktolerance limits.
2009 ISACA/ITGI. All rights
reserved.
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01 de Marzo de 2011Ileanna Lpez, PMP 25
Agile Projects
2 weeks to 2months
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SCRUM
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Example of the Board
October 28 and 29, 2010PMIPR 2010 Symposium 27
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Risks in Scrum
01 de Marzo de 2011Nombre del presentador / Presenter's name. 28
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PMI-RMP
1. Risk Management Overview
2. Project Risk Documents1. Risk Management Plan
2. Risk Register
3. Gathering Project Risks4. Risk Identification Analysis
5. Creating a Risk Budget
6. Communicating Project Risk
7. Documenting Project Risk
8. Practice Exam Question
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PMI-RMP
Exam Overview:
Risk Communication 27%
Risk Analysis 30%
Risk Response Planning 26%Risk Governance 17%
Total 100%
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What this mean to us?
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References
http://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdf
http://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Te
mplates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdf
http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4
http://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspx
http://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpg
http://agilemanifesto.org/iso/es/principles.html 33
http://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpghttp://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpghttp://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpghttp://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpghttp://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpghttp://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpghttp://blog.mountaingoatsoftware.com/wp-content/uploads/risk-census.jpghttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://www.isaca.org/Knowledge-Center/Risk-IT-IT-Risk-Management/Pages/Risk-IT1.aspxhttp://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://agile101.net/2009/07/27/agile-risk-management-risk-review-step-4-of-4http://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://www.itservices.manchester.ac.uk/isprogramme/documents%20to%20download/ISPROG%20Templates%20v2/ISPROG_Project%20Issues%20Guidance_v1.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdfhttp://www.emc.com/collateral/hardware/white-papers/h4615-proj-delivery-methodology-wp.pdf8/3/2019 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Ileanna M. Lpez, PMP
How We Manage Risk.
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