OPIM 5894 ADVANCED PROJECT MANAGEMENT JET PROPULSION LABORATORY SURESH NAIR, Ph.D. Professor, School of Business University of Connecticut, Storrs, USA

Jet Propulsion Laboratory 2 Issues Raised  How a high-innovation company applies risk management to major projects  Understand how to balance the tension between innovation and risk management  Recognize how risks are identified and managed  Challenges of using devil’s advocate systems Prof. Suresh Nair, University of Connecticut

Jet Propulsion Laboratory 3 Team Assignments – Team 1, Team 2 and Team 3  For an innovative project at work (or one of our earlier projects – HuskyDM through Corning, but work project is preferable) identify at least 3 activities. Estimate the following risks and margins (justify your estimates or methodology for estimation – how would you collect the info, etc., since you may have done similar tasks before)  Consequence of occurrence  Likelihood of occurrence  Cost reserve  Time reserve Prof. Suresh Nair, University of Connecticut

Jet Propulsion Laboratory 4  Create a heat map for the tasks.  Is this risk profile acceptable? Mitigation steps you would take.  Given the overall chance of success of the project (estimate this), what would be the implications of delaying launch of rollout?  On time to market issues  Project cost issues Prof. Suresh Nair, University of Connecticut