2. INCOME PROJECT TEMPUS SCM MEDA Project Risk Management

3. INCOME PROJECT TEMPUS SCM MEDA Projects A project is an activity that: Has a specific objective and scope Has a defined start and definite finish to deliver a new element into the organisation, workplace or even the marketplace Involves doing something that is temporary and unique Brings change in the organisation (new products, business processes, technology, etc.) Could involve a single person or thousands Could operate within a broader process, may involve a single department or cross organisational boundaries

4. INCOME PROJECT TEMPUS SCM MEDA Objectives of a Project

5. INCOME PROJECT TEMPUS SCM MEDA Iterative Nature of Project Management

6. INCOME PROJECT TEMPUS SCM MEDA What is a project management:

7. INCOME PROJECT TEMPUS SCM MEDA Managing the process whereby a team produces a unique product, within a fixed time frame, and usually within some cost, budget, and/or resource limitations.

8. INCOME PROJECT TEMPUS SCM MEDA Why do Projects succed or Fail Why Projects Succed Planning Ongoing control Team organisation Defined stakeholder expectations Leadership Appropriate scheduling of tasks Why Projects Fail: Underestimating complexity Disorganised deployment of resources Unclear roles and responsibilities Unclear or differing expectations Lack of commitment Undefined schedules or deadlines

9. INCOME PROJECT TEMPUS SCM MEDA Key dimensions for project Succes

10. INCOME PROJECT TEMPUS SCM MEDA Risk Management

11. INCOME PROJECT TEMPUS SCM MEDA Risk Management Framework Picture of project characteristics Identify key risk areas to manage Project team members participate in risk planning Assess the chance of risk or failure Determine risk categories Prioritise risks Develop strategies to reduce to acceptable level Establish Risk Register to record and track risks Perform periodic reassessment of risks

12. INCOME PROJECT TEMPUS SCM MEDA Example Project Risks Lack of management commitment to the project Lack of management commitment to the project Project scope not clearly defined and leads to additional work Project scope not clearly defined and leads to additional work Inadequate communication within project team Inadequate communication within project team Resource availability problems Resource availability problems Project responsibilities not clearly defined Project responsibilities not clearly defined Project costs will overrun Project costs will overrun Software cannot support the redesigned processes Software cannot support the redesigned processes

13. INCOME PROJECT TEMPUS SCM MEDA Example Risks and Approaches to Mitigation

14. INCOME PROJECT TEMPUS SCM MEDA Example Risk

15. INCOME PROJECT TEMPUS SCM MEDA Example Risk

16. INCOME PROJECT TEMPUS SCM MEDA Example Risk

17. INCOME PROJECT TEMPUS SCM MEDA Example Risk

18. INCOME PROJECT TEMPUS SCM MEDA Example Risk

19. INCOME PROJECT TEMPUS SCM MEDA Example Risk

20. INCOME PROJECT TEMPUS SCM MEDA Example Risk

21. INCOME PROJECT TEMPUS SCM MEDA Conlusion Effective Risk Management is a core element of Project Management Risks should be managed and owned (and progress monitored) Team commitment to project is essential at all levels Regular communication is vital Responsibilities should be clearly defined Tolerance should be established and budget monitored Progress against project objectives should be assessed