Plan

“project risk
management”

Chaaminda Ratnayake (M.MM- UOC)

 Key reference
• The Project Management Insttttee SA. A Gtide to the
Project Management Body of Knowledge. 5th Editon.
 What is Plan Risk Management?

It defnee how to conduct riek management actvitee for a project

 Objectve of Plan Risk Management?
• It eneuree that
• Degree,
• Type,
• Vieibility of riek management
are commeneurate with both the rieke and the importance of
the project

• It ie vital to communicate with, and obtain agreement and

eupport from all etakeholdere to eneure the riek management
proceee ie eupported and performed efectvely over the project
life cycle
Project phases and risks
 Inptt of Project Risk Plan
1. Project management plan
• The riek management plan ie aleo a component of the project
management plan. The project management plan providee baeeline
or current etate of riek-afected areae including ecope, echedule, and
coet
1. Plan Scope Management 2. Plan Schedule Management
3. Plan Coet Management 4. Plan Quality Management
5. Plan Human Reeource Management 6. Plan Communicatone Management
7. Plan Riek Management 8. Plan Procurement Management
9. Plan Stakeholder Management
 Inptt of Project Risk Plan
2. Project Charter

• Project purpoee or • Summary mileetone echedule,

juetfcaton, • Summary budget,
• Meaeurable project • Stakeholder liet,
objectvee and related • Project approval requiremente (i.e.,
eucceee criteria, what conettutee project eucceee, who
• High-level requiremente, decidee the project ie
• Aeeumptone and eucceeeful, and who eigne of on the
conetrainte, project),
• High-level project • Aeeigned project manager,
deecripton and reeponeibility, and authority level, and
boundariee, • Name and authority of the eponeor or
• High-level rieke, other pereon(e) authorizing the project
charter.
 Inptt of Project Risk Plan
3. Stakeholder Register
The main output of the Identfy Stakeholdere proceee ie the
etakeholder regieter. Thie containe all detaile related
to the identfed etakeholdere including, but not limited to:
• Identfcaton informaton: Name, organizatonal poeiton, locaton,
role in the project, contact
informaton;
• Assessment informaton: Major requiremente, main expectatone,
potental infuence in the project,
phaee in the life cycle with the moet intereet; and
• Stakeholder classifcaton: Internal/external,
eupporter/neutral/reeietor, etc.
 Inptt of Project Risk Plan
4. Enterprise Environmental Factors
Enterpriee environmental
factore refer to conditone, not
under the control of the
project team, that infuence,
conetrain, or direct the project
 Inptt of Project Risk Plan
5. Organizatonal Process Assets
• Riek categoriee
• Common defnitone of concepte and terme
• Riek etatement formate
• Standard templatee
• Rolee and reeponeibilitee
• Authority levele for decieion making and
• Leeeone learned
Tools / Techniqtes of Project Risk Plan

1. Analytcal Techniqtes
2. Expert Jtdgment
3. Meetngs
 Ottptt is Project Risk Plan

The riek management plan ie a component of the

project management plan and deecribee how riek
management actvitee will be etructured and
performed.
 Elements of Project Risk Plan
1. Methodology - Defnee the approachee, toole, and data eourcee
that will be ueed to perform riek management on the project
2. Roles and responsibilites - Defnee the lead, eupport, and riek
management team membere for each type of actvity in the riek
management plan, and clarifee their reeponeibilitee
3. Btdgetng - Eetmatee funde needed, baeed on aeeigned
reeourcee, for inclueion in the coet baeeline and eetabliehee
protocole for applicaton of contngency and management
reeervee
4. Timing - Defnee when and how often the riek management
proceeeee will be performed throughout the project life cycle
5. Risk categories (RBS) - Provide a meane for grouping potental
caueee of riek
 Elements of Project Risk Plan
6. Defnitons of risk probability and impact
 Elements of Project Risk Plan
7. Probability and impact matrix
8. Revised stakeholders’ tolerances
9. Reportng formats
10.Tracking