risk management lecture - patrick lebreton
TRANSCRIPT
PMI Lebanon Chapter
“Risk Management – Best Practices”
Patrick LEBRETON
March 26th 2015
Session Outline
•Definition of a Risk
•Factors Influencing Risk Management Practice
•Risk Management Plan - When does it start?
•Risk Management Plan – What is next?
•Q&A
Definition of a Risk
According to the 5th Edition of the PMBOK Guide,
project risk is
“an uncertain event or condition that if it occurs has a
positive or condition that, if it occurs, has a positive or
negative effect on one or more project objectives
such as scope schedule cost or objectives such as
scope, schedule, cost, or quality”.
Factors influencing Risk Management Practice
Few factors or elements that have an influence on our
practice of Risk Management as project managers:
How much our organization is “risk averse”
Our Organization Structure
Our Field of practice
Our Project Nature, Scope, Deliverables and Timelines
Risk Management When does it start?
Starts at pre-sales phase or what we commonly call
“bid phase”
1. Risk Assessment
2. Risks Identification, Quantification, Qualification
3. Risk Mitigation Plan
4. Risk Response
Iterative process until contract signature
Risk Management Plan – What is next? Now that the Plan is there and contract signed what is next?
Make sure a mock-up or PoC is implemented
Get customer’s sign-off on solution
Refine Risk Register to cater for any unforeseen
Refine Scope accordingly to avoid scope creep
Identify Opps – to treat as Change Request
Ensure a UAT protocol is agreed
Engage Resourcing & Procurement
Agree on quality plan and measures to avoid rework
You are now fully into Delivery Phase!
Then
Establish periodic Risk Register reviews
Ensure proper contingency budget re-allocated to
project budget should Risk not occur or be fully
mitigated
Keep Financials abreast and enhance your
Profitability (P&L)
At project closure
Ensure administrative closure of all running
processes, inclusive of Risk Management Plan
Document Lessons Learned
Release Resources
Q&A
Thank You!