TheProjectPerfectWhitePaperCollectionBasicsofManagingRisksNevilleTurbitSoyouhavebeenaskedtoputtogetheraprojectriskmanagementplan.Noideawheretostart.Hereisabriefguidetoputtingtogetherariskmanagementplan.ProjectRiskManagementAriskissomethingthatmayhappenandifitdoes,willhaveanadverseimpactontheproject.Afewpointshere."thatmayhappen"impliesaprobabilityoflessthen100%.Ifithasaprobabilityof100%-inotherwordsitwillhappen-itisanissue.Anissueismanageddifferentlytoariskandwewillhandleissuemanagementinalaterwhitepaper.Ariskmustalsohaveaprobabilitysomethingabove0%.Itmustbeachancetohappenoritisnotarisk.Thesecondthingtoconsiderfromthedefinitionis"willhaveanadverseimpact".Ifitwillnothaveanadverseimpact,itisnotarisk.Supposewesaidariskwasthatwewouldfindtheprojectlesscomplicatedthanwethought,andcouldfinishearly.Unlessfinishingearlyhasanadverseeffectontheproject,itisnotarisk.RiskManagementPlanTherearefourstagestoriskmanagement.Theyare:•RiskIdentification•RisksQuantification•RiskResponse•RiskMonitoringandControlRiskIdentificationInthisstage,weidentifyandnametherisks.ThebestapproachisaworkshopwithbusinessandITpeopletocarryouttheidentification.Useacombinationofbrainstormingandreviewingofstandardrisklists.Therearedifferentsortsofrisksandweneedtodecideonaprojectbyprojectbasiswhattodoabouteachtype.Businessrisksareongoingrisksthatarebesthandledbythebusiness.Anexampleisthatiftheprojectcannotmeetendoffinancialyeardeadline,thebusinessareamayneedtoretaintheirexistingaccountingsystemforanotheryear.Theresponseislikelytobeacontingencyplandevelopedbythebusiness,tousetheexistingsystemforanotheryear.Genericrisksareriskstoallprojects.Forexampletheriskthatbusinessusersmightnotbeavailableandrequirementsmaybeincomplete.Eachorganisationwilldevelopstandardresponsestogenericrisks.05/06/03www.projectperfect.com.auPage1of3Risksshouldbedefinedintwoparts.Thefirstisthecauseofthesituation(Vendornotmeetingdeadline,Businessusersnotavailable,etc.).Thesecondpartistheimpact(Budgetwillbeexceeded,Milestonesnotachieve...
