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Chap 11.2 Identify Risks

https://www.slideshare.net/anandbobade/chap-110-project-risk-management-overview-143496876
https://www.slideshare.net/anandbobade/chap-111-plan-risk-management-143497221
https://www.slideshare.net/anandbobade/chap-112-identify-risks-143497237
https://www.slideshare.net/anandbobade/chap-113-perform-qualitative-risk-analysis
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https://www.slideshare.net/anandbobade/chap-115-plan-risk-response-143497289
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https://www.slideshare.net/anandbobade/chap-117-monitor-risks-143497342

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Chap 11.2 Identify Risks

  1. 1. By: Anand Bobade (nmbobade@gmail.com) Chapter 11 – Project Risk Management PMP Trainer: Anand BobadePMBOK 6th Edition, 2019, All rights reserved. Identify Risk SIXTH EDITION
  2. 2. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) 11.2 Identify Risks Identify Risks - Definition Who is involved in Risk identification? Identify Risks : ITTO What is Delphi technique? What is Risk register? Review
  3. 3. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Project Risk Management Processes Plan Risk management Identify Risk Perform Qualitative Risk Analysis Perform Quantitative Risk Analysis Plan Risk Response Implement Risk Monitor Risk P MC P P P P E
  4. 4. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Determine which risks may affect the project & document their characteristics Focuses on documentation of existing risks. It provides Knowledge & ability to project team, to anticipate events. Project Risk1 Risk2 Risk3 Risk4Risk5 Risk6 Risk7 Identify Risk -> Definition Determine Risks Documenting their characteristics Document Risk Charaterstics1 Charaterstics2 Charaterstics3
  5. 5. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Risk Identification is an iterative process. Consistent format should be used to ensure each risk is understood clearly & unambiguously. Ownership & Responsibility - Project team should be involved in the process. The more participants involved in the process will help to identify more risks. Identify Risk -> Introduction
  6. 6. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Project Manager / Project team Risk Management Experts Customers & end users SME / Consultants Project stakeholders Industry representatives Quality/ HR experts Identify Risk -> Stakeholders involved
  7. 7. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Identify Risk ->ITTO Expert Judgment Data Gathering Data analysis Interpersonal and team skills Prompt lists Meetings Project Management Plan Project documents Agreements Procurement Documents Enterprise environmental factors Organizational process assets Risk Register Risk Report Project document updates Inputs Tools & Techniques Outputs
  8. 8. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Project Management Plan Project documents Agreements Procurement Documents Enterprise environmental factors Organizational process assets Identify Risk ->Inputs
  9. 9. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Project Management Plan Requirements Manag. Plan Schedule Manag. plan Cost Manag. Plan Quality Manag. Plan Resource Manag. Plan Risk Manag. Plan Identify Risk ->Inputs -> PMP Scope baseline Schedule baseline Cost baseline Baselines
  10. 10. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Project documents Assumption log Lessons learned register Requirements documentation Risk Register Stakeholder Register Issue log Cost estimates Duration Estimates Identify Risk ->Inputs -> Project documents
  11. 11. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Expert Judgment Data Gathering Data Analysis Prompt lists Meeting Interpersonal & team skills Identify Risk ->Tools & Techniques
  12. 12. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Data Gathering Checklist Brainstorming Interviews Identify Risk ->T&T-> Data Gathering
  13. 13. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Data Gathering Checklist Identify Risk ->T&T-> Data Gathering Risk identification checklists. Lowest level of RBS can be used as checklist. Best if Developed based on prior projects. It is impossible to build exhaustive checklist. Over reliance over checklist should be avoided.
  14. 14. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Data Analysis Root cause analysis Assumptions & Constraints analysis SWOT analysis Document analysis Identify Risk ->T&T -> Data Analysis
  15. 15. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Data Analysis SWOT analysis • It is a framework for analyzing organization's strengths & weaknesses, & the opportunities and threats that you face. Identify Risk ->T&T -> Data Analysis
  16. 16. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Data Analysis Assumptions & Constraints analysis •It explores the validity of assumptions as they applied to the project. •All project assumptions should be verified. •Changes to assumptions or new assumptions should be identified. •Focus on the assumptions that impacts multiple project objectives. Document analysis: •Understand the content of all relevant documents •Focus on Scope, cost, time & quality •Question Assumption, Constraints •Quality of doc - completeness, consistency Identify Risk ->T&T -> Data Analysis
  17. 17. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Expert Judgment Expertize should be considered from groups or individuals with specialized knowledge in the area of Risk management. Senior Management Project Stakeholders PM with similar project experience Subject Matter expert Consultants Professional & technical associates Identify Risks->T&T->Expert Judgement Help PM to do SWOT analysis Use Delphi technique to identify risks.
  18. 18. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Prompt lists Prompt lists are predetermined list of categories. The lowest level of RBS is used as prompt list. strategic frameworks to identifying overall project risks - PESTLE, TECOP, VUCA Identify Risks->T&T-> Prompt lists Complexity Multiple key decision factors Volatility Rate of change Ambiguity Lack of clarity about meaning of an event Uncertainty Unclear about the present VUCA Howwellcanyoupredictthe outcomeofyouractions? How much do you know about the situation? + +- -
  19. 19. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Prompt lists Identify Risks->T&T-> Prompt lists PESTLE Political Economic Social Technological Legal Environmental. TECOP Technical Economical Commercial Organizational Political.
  20. 20. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Risk Register Risk Report Project doc. updates Identify Risks->Output->Risk Register
  21. 21. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Risk Register The output is, initial entries into the risk register, which includes: Identify Risks->Output->Risk Register Risk Register: List of risk List of initial POTENTIAL responses Potential risk owners Root causes of risks Updated risk categories Impact I D Risk Statement Probability Scope Quality Schedule Cost Potential Response Potential Owner 1 Project owner on the client side is replaced. Low Medium Orient new project owner. Project Manager 2 Senior programmer is taken from the project. Medium High High Find replacement programmer. Project Manager 3 External system A is not ready in time to implement feature B. High Low Medium Low Discuss with stakeholders and make adjustments as agreed. Project Manager
  22. 22. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Risk Register Risk Statement: Identify Risks->Output->Risk Register Context Risk Statement Source Condition Consequences If (event) occurs due to (driver), the consequences could result in (impact). Significant delays in retrieving records due to current tools for data storage and retrieval practices may leave the department unable to adequately respond to Access to Information requests.
  23. 23. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Project doc. updates Assumption log Issue log Lessons learned register Identify Risks->Output-> Project doc. updates
  24. 24. PMBOK 6 - All rights reserved; By: Anand Bobade (nmbobade@gmail.com) Who is involved in Risk identification? What is Delphi technique? What is assumption analysis? What is SWOT analysis. What is Risk register? What is risk statement. Identify Risks -> Review
  25. 25. By: Anand Bobade (nmbobade@gmail.com)

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