1 / 6

Risk Management

Risk Management. Planning for Problems. Characteristics of Risk. Risk has two principle characteristics Uncertainty – It may or may not happen Loss – If it happens, losses will occur Risk varies along three dimensions Nature – What goes wrong Scope – What does it affect

odysseus
Download Presentation

Risk Management

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Risk Management Planning for Problems

  2. Characteristics of Risk • Risk has two principle characteristics • Uncertainty – It may or may not happen • Loss – If it happens, losses will occur • Risk varies along three dimensions • Nature – What goes wrong • Scope – What does it affect • Timing – When does it happen and for how long

  3. Risk Management: Purpose and Process • We manage risks to proactively prevent “bad things” from happening to our project • How to Do It • Identify Risks • Estimate Damage • Likelihood • Impact • Prioritize Problems • Develop Mitigation Plan • Monitor and Act

  4. Types of Risk (Entire Project) • Project – Threaten project plan by change in budget, schedule, personnel, etc. • Technical – Problem harder than estimated • Business – Wrong product, presentation, or loss of management support

  5. Types of Risk (in Development) • Size of Task – Problem in scoping • Business Impact – Problems with meeting market constraints • Customer Disconnect – Loss, lack, or inability to communicate with customer • Process Problems – Lack or disregard in following development process • Dev Environment – Problems with availability, quality, or understanding of development tools • Technology – Risk of newness, difficulty, or complexity • Experience – missing skills, insufficient self-discipline, lack of time and attention

  6. Additional Points of Emphasis • Difference between known and predictable risks (pg 746 7/e, pgs 696-697 6/e) • Difference between generic and product-specific risks (pg 747 7/e, pg 697 6/e) • Important questions for determining project risk (pgs 748-749 7/e, pgs 698-699 6/e) • Prescriptive advice for developing a risk table (section 28.4.1 and scenario pg 754 7/e, section 25.4.1 and scenario pg 704 6/e)

More Related