Agenda Interthink – 2003 Organizational Project Management Baseline Study –Industry Profile –Country Profile –Organization Size –Data On Schedule –Data On Budget –Key Influences – Risk Management What is Risk? Tools PMBOK Chapter 11 –11.1 Risk Management Planning –11.2 Risk Identification –11.3 Qualitative Risk Analysis –11.4 Quantitative Risk Analysis –11.5 Risk Response Planning –11.6 Risk Monitoring and Control Questions and Answers

Interthink – 2003 Organizational Project Management Baseline Study

Schedule

Budget

As with every previous year, the correlation of risk management and overall process performance is one of the strongest ones found Risk management continues to be a practice area that for many organizations is ignored, or is addressed only at the beginning of the project Research has consistently demonstrated that an emphasis on risk management can have widespread and significant impacts on how projects are managed organizationally It continues to be a leading indicator of organizational success

What Is Project Risk? According to PMBOK Chapter 11 Project risk is an uncertain event or condition that, if it occurs, has a positive or a negative effect on at least one project objective

Software MS Project MS Word MS Excel MS Power PointMS Outlook Pertmaster for MS Project Good News: You have 2/3 – 5/6 of the tools you need to do risk analysis

It All Starts With A Good Plan MS Project

Project Risk Management 11.1 Risk Management Planning 11.4 Quantitative Risk Analysis 11.3 Qualitative Risk Analysis 11.2 Risk Identification 11.5 Risk Response Planning 11.6 Risk Monitoring and Control

11.1 Risk Management Planning.1 Inputs.1 Project Charter.2 Project Scope Statement.3 Project Management Plan.4 Organizational Process Assets.5 Environmental and Organizational Factors.1 Planning Meetings and Analysis.3 Output.1 Risk Management Plan.2 Tools and Techniques

Project Risk Management Plan MS Word

11.2 Risk Identification.1 Inputs.1 Project Charter.2 Project Scope Statement.3 Project Management Plan.4 Organizational Process Assets.5 Environmental and Organizational Factors.1 Documentation Reviews.2 Information Gathering Techniques.3 Risk Checklists.4 Assumptions Analysis.5 Diagramming Techniques.3 Outputs.1 Risk Register.2 Project Management Plan (Update).2 Tools and Techniques

Risk Checklist MS Word

11.3 Qualitative Risk Analysis.1 Inputs.1 Project Charter.2 Project Scope Statement.3 Project Management Plan.4 Organizational Process Assets.5 Environmental and Organizational Factors.1 Risk Probability And Impact.2 Probability And Impact Matrix.3 Risk Data Quality Assessment.4 Risk Categorization.5 Risk Urgency Assessment.3 Outputs.1 Risk Register (Updates).2 Tools and Techniques

Probability and Impact Matrix MS Excel Probability Risk Score = Probability x Impact

11.4 Quantitative Risk Analysis.1 Inputs.1 Project Management Plan.2 Risk Register.3 Project Scope Statement.4 Work Performance Information.5 Organizational Process Assets.1 Data Gathering And Representation Techniques.2 Quantitative Risk Analysis And Modeling Techniques.3 Outputs.1 Risk Register (Updates).2 Tools and Techniques

Monte Carlo Simulation Pertmaster for MS Project There is less than a 5% chance of meeting the original estimated date! There is an 85% chance of missing the estimated date by 4 months!

Sensitivity Analysis Pertmaster for MS Project

11.5 Risk Response And Planning.1 Inputs.1 Project Management Plan.2 Risk Register.1 Documentation Reviews.2 Information Gathering Techniques.3 Risk Checklists.4 Assumptions Analysis.5 Diagramming Techniques.3 Outputs.1 Risk Register.2 Project Management Plan (Update).2 Tools and Techniques

Project Management Plan (Update) MS Project We may want to put a few more developers on this one!

11.6 Risk Monitoring And Control.1 Inputs.1 Project Management Plan.2 Work Performance Information.3 Approved Changed Requests.1 Risk Reassessment.2 Risk Audits And Periodic Risk Reviews.3 Variance And Trend Analysis.4 Technical Performance Measurement.5 Reserve Measurement.3 Outputs.1 Recommended Corrective Action.2 Requested Changes.3 Risk Register (Updates).4 Organizational Process Assets (Updates).2 Tools and Techniques

Risk Reassessment Pertmaster for MS Project There is now an 85% chance of finishing the project 2 weeks early! There is now a 95% chance of meeting the original estimated date!