RISK

MANAGEMENT
 RISK MANAGEMENT

Plan Identify Assess Respond Monitor

PLAN RISK MANAGEMENT:
•Project Charter
•Project management plan
•Project Documents
•Enterprise environmental factors
Inputs •Organizational process assets

•Expert judgement
•Data Analysis
Tools and •Meetings
Techniques

•Risk Management plan

Outputs
RISK MANAGEMENT PLAN:
• Risk Strategy
• Methodology
• Roles and Responsibilities
• Funding
• Timing
• Risk Categories
• Stakeholder risk appetite.
• Definitions of risk probability and
impacts
• Probability and impact matrix
• Reporting formats
• Tracking
 RISK IDENTIFICATION
TECHNIQUES:
• Help from users and Specialists
(business)
• Review lessons log (internal
lessons – threats & opportunities)
• Risk checklist (internal lessons –
similar risks)
• Risk prompt list (public categories
of risks)
• Brainstorming
• Risk breakdown structure
(environmental potential sources
of risks)
RISK BREAKDOWN STRUCTURE

Technical
• Tools, technologies, requirements, etc

Management
Project management, resources, communications, etc

Business
Vendors, contracts, partners

External
Government, laws, market situation, etc
RISKS ASSESSMENT
EXAMPLE OF DEFINITIONS FOR PROBABILITY AND IMPACTS

Risks Assessment
EXAMPLE OF PROBABILITY AND IMPACT MATRIX

Risks Assessment
RISK REGISTER
 STRATEGIES TO WORK WITH NEGATIVE RISKS

AVOID - trying to avoid the risk by eliminating its causes

ACCEPT - accepting the negative consequences if the risk occurs

TRANSFER - shifting the consequences or/and responsibility to a 3rd party

MITIGATE - reducing the impact of the risk by decreasing the probability of its
realisation
 STRATEGIES TO WORK WITH POSITIVE RISKS

ENHANCE - increasing the chances that risk occurs

EXPLOIT - eliminating the uncertainty associated with a particular risk

ACCEPT - you keep the opportunity as is

SHARE - sharing the risk response strategy if you are not able/don’t have enough
resources to realise it yourself
RISK REGISTER (EXAMPLE)
Communication with customers