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Project Risk Management

Project Risk Management. Colleen O’Donnell, MSW, PMP. Objectives. Understanding of the key roles of project planning and risk management in project success Evaluating your ideas about project management - do they support or undermine risk management? Utilizing a framework for risk management

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Project Risk Management

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  1. Project Risk Management Colleen O’Donnell, MSW, PMP

  2. Objectives • Understanding of the key roles of project planning and risk management in project success • Evaluating your ideas about project management - do they support or undermine risk management? • Utilizing a framework for risk management • Common barriers to implementing risk management

  3. Project manager role Some Misconceptions • It’s common sense – anyone can do it • This project is not that big and everyone knows what they are doing – why do we need a project manager? • If I have a project manager, I don’t need to be involved • It’s just a lot of unnecessary paperwork to show off to people

  4. Project manager role

  5. Project “success” Starts with clearly defined goals and objectives • Grant Requirements • Additional objectives identified in the response to the RFA Attained within the “triple constraints” • Time (project schedule) • Cost (budget) • Scope (activities/tasks)

  6. Project “risk” Any factor that threatens project success! • Time (project schedule) - Monitoring the timing for activity/tasks completion within the timeframe of the grant, using start and end dates, % complete, tracked to availability of resources as needed • Cost (budget) – Realistically estimating and then tracking the cost of resources and materials, both apparent and “hidden” (i.e., loss of revenue from billable staff hours when staff is engaged in implementation) • Scope (activities/tasks) – Giving priority to attaining the grant requirements first, RFP response objectives second

  7. Risk Management Proactive Anticipating and Planning for Probable Risks • Concept of “due diligence” • Manage, Mitigate, Avoid • Requires a Project Plan with the basic elements • Clearly identified Activities/Tasks • Organized in a logical hierarchy • With start and end dates • Tied to identified resources • With estimated costs • And the ability to track % complete

  8. Starts With Risk Identification Look at your project plan… • Does it have ALL the basic elements? • If no, that’s your first project risk! • Pick an Activity that has not yet started • Consider what is necessary to complete the associated tasks • Evaluate these needs in terms of six categories

  9. Category - Management • Management structure • IT Governance (Kickoff Webinar) • Communication Plan (who needs to get what information when?) • Too much in plan (can’t be accomplished in grant timeframe) • Poorly defined scope (vague outcomes, no milestones) • Change management plan (transitioning organization)

  10. Category - Technology • Technology includes • Hardware (outdated, insufficient) • Software (reliability, consideration of System Development Life Cycle, IT portfolio compatibility) • Infrastructure (Internet connectivity) • Policies and procedures (HIPAA Privacy and Security)

  11. Category - Resources • Human resources • Key staff identified (what happens if they leave?) • Necessary skill sets (computer literacy, ability to type vs peck) • Availability • Vendor reliability, vendor project manager skills

  12. Category - Timing • Activities/tasks • Realistic (or are you setting yourself up for failure?) • Contingencies identified (if this activity can’t be completed on time, what is the impact on other activities?) • Vendor time commitments (are these slipping?) • Vendor and organization reliability (are they following through on promises? Are you?) • Buffers built in?

  13. Category - Organization • Politics of the project • Time invested in change management (does everyone know how the project will affect their job?) • Management support (champion at executive level) • Staff support (end user buy-in, power users – is staff included?) • Deliberate or unintentional sabotage (is the staff being asked to over-perform? Can they do that? Will they do that? What are the implications to moral and quality of work in their ‘real’ jobs?)

  14. Category - External • Things you can’t control – does not mean you can’t manage the risk! • “Showstoppers” (What do you HAVE to accomplish by the end of the grant? Is it in your plan? In the vendor contract?) • Contingency planning (“What if…?”) • Decision gates (Go/No Go) • Persistence (find a way!)

  15. Break out groups… • Use template • Review plan Activity/Tasks • What can go wrong? (Identify) • What exactly is the nature of the risk? • Plan response

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