BSBPMG536 - Manage project

risk

Week 2

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TOPICS • Determine risk analysis classification
criteria and apply to agreed risk ranking
system
• Use risk analysis processes, within
delegated authority, to analyse and
qualify risks, threats and opportunities
• Determine risk priorities in agreement
with project client and other
stakeholders
• Document risk analysis outcomes for
inclusion in risk register and risk
management plan

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 LEARNING
• Perform risk analysis
OBJECTIVES • Determine risk
priorities
• Develop a risk
register

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 Topic 2 Analyse project risks

Risk analysis
  To determine risk analysis classification criteria,
the risk criteria should be identified for each type of
risk.

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 Topic 2 Analyse project risks

Video Clip:
 
Chris Davenport at TEDX talks about the risks of
climbing and skiing which provides a good analogy
of analysing risk.
http://www.youtube.com/watch?v=zyet9fPS24k
(10mins)

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 Topic 2 Analyse project risks

Qualitative and Quantitative analysis

 
Risk analysis involves undertaking qualitative and
quantitative analysis.

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 Topic 2 Analyse project risks

 
Qualitative Risk Analysis:

Quantitative Risk Analysis:

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 Topic 2 Analyse project risks

  Risk ratings

Risk rating scales can be defined in quantitative or

qualitative terms. Quantitative rating scales can be
used when risks can be expressed in numerical
values.

This can provide a greater degree of accuracy to

the process. Qualitative scales are generally used
when risks cannot be expressed in numerical
values.
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 Topic 2 Analyse project risks

  Discussion and Brainstorm:

Where could you get sources of information for the

above analysis to occur?

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 Topic 2 Analyse project risks

Risks can result in four types of

consequences:

• benefits are delayed or reduced

• timeframes are extended
• outlays are advanced or increased
• output quality (fitness for purpose) is
reduced

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 Topic 2 Analyse project risks

Activity: Quantitative assessment

techniques

These techniques can involve complex

statistical methods, usually performed by
specialist analysts in their field.

Find two examples of a quantitative assessment

technique.

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 Topic 2 Analyse project risks

Risk priorities

Once the risks associated with a project have

been identified and analysed, a prioritised list of
risks that require action is developed based on
the ratings and compared to the criteria that was
established.

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 Topic 2 Analyse project risks

Risk register

The project risk register is the document that

contains a list of the risks associated with the
project, the results of risk analysis and the
planned risk responses. It also contains the
contingency plans.

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 Topic 2 Analyse project risks

Risk Management Plan

A risk management plan:

•describes how risk management will be

structured
•how risk management will be performed
•contains the risk context, methodology, roles
and responsibilities, reporting, audits, lessons
learned.

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CONCLUSION

QUESTIONS AND
RECAP

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 Disclaimer

Icons and images in this document sourced and purchased from:

www.dreamstime.com/, sourced via google search as ‘labelled for
reuse with modifications’ or sourced from www.pixabay.com
under a CC0 Creative Common license (free for commercial use
and no attribution required).

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