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Ch. 7 Managing Risk (change management systems (identify, list effects,…
Ch. 7 Managing Risk
change management systems
identify
list effects
review, evaluate, approve/disapprove
negotiate/resolve conflicts
communicate
assign responsibility
adjust schedule/budget
track changes
risk management
identify risk events
identify troubles
recognizes troubles
minimize impact
responds to risks
contingency funds
Risk
consequences of outcomes
identify before and after
change that undesirable event occurs
positive consequences
negative consequences
types of risk
technical risks
cost risks
schedule risks
funding risks
Step 3: Risk Response Development
mitigate risk
reduce risk
transfer risk
accept risk
contingency plan
"backup plan"
what, where, when, how
cost estimate
use risk response matrix
contingency funds
covers identified & unknown
many managers dislike
budget reserves
management reserves
Step 1: Risk Identification
uses RBS/WBS
ignore trivial risks
risk profile
change management
major element
sources of change
project owner
project manager
customer
team members
risk events
categories of change
implementation of contingency plan
improvement changes
scope changes
Step 2: Risk Assessment
scenario analysis
easy
commonly used
use impact scales
risk severity matrix
prioritize risks
ease of detection
Step 4: Risk Response Control
risk register
risk control tasks
opportunity management
4 response types
share
enhance
accept
exploit