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ENGR 3360U Winter 2014

Unit 10.5-6

Planning and Controlling Risk

Dr. J. Michael Bennett, P. Eng., PMP,

UOIT,

Version 2014-I-01

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Un t 10 – Pro e!t R s "anage#ent

C$ange Re!ord

2014-%-01 %nitial Creation

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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010-3

10.5 Planning and Controlling Risks

W$at is +lanning,

%s it " Risk, assign res+onsi/ilit

W$at !an % do, a++roa!$o "!$ and W$at, s!o+e and a!tions

et "itigation !onsiderations

Gidelines and ti+s

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.1 trategies or Risk 7$reats

89oid

7ranser

"itigate

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:/e!ti9es o t$e P;8N

%' risks sor!es and !onse

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W$ose Risk % it,

3 o+tions

1 kee+ t$e risk

2 delegate t$e risk it$in t$e organi=ation3 transer it otside

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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010->

?@s to 8sk

W$o !old sol9e t$is risk,

W$o $as t$e +oer to allo!ate resor!es,

W$o !an /e $eld a!!onta/le or t$is risk,W$o $as t$e ti#e to #anage t$is risk,

W$o $as t$e o++ortnit to take a!tion,

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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010-A

Bee+ t$e Risk

Retain a!!onta/ilit* res+onsi/ilit*

at$orit

o $a9e resor!es* knoledge* +osition to#anage risk

o a++ro9e all risk a!tions

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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010-

'elegate

o retain a!!onta/ilit* assign

res+onsi/ilit and at$orit

o #anage t$e risk

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7ranser

o assign a!!onta/ilit* res+onsi/ilit*

at$orit

7$ird +art no a!!e+ts t$e risk

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W$at to do,

% o do not kno enog$ a/ot t$is risk

to de!ide* research

Can o li9e it$ t$e risk, 8!!e+t

NoD !an % mitigate? NoD tra!k t$e risk

esD de9elo+ a #itigation +lan

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Clling Risks

8ll risks !annot /e +lanned si#ltaneosl.

Plan in order o i#+ortant at this time

What is important now to the project, client, user,management? Is the project facing critical milestones? What limits, constraints does the project have? What milestones are fixed, flexible? What resources are available for mitigation? How does this risk factor into the overall project

concerns?

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Range o "itigation 8++roa!$es

1 Resear!$

2 8!!e+t

3 "itigate4 7ra!k

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"itigation !o+e

o#e ?estions or "itigation

o !o#+le ill t$e #itigation /e,

o ill it /e do!#ented,W$at is t$e strateg,

W$at are t$e tasks,

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8!tion %te#,

Risk state#ent

"itigation goal #easres

Res+onsi/le +erson8!tion ite#s

'e dates and !losing dates

Contingen! a!tion and triggers

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or 7ask Plan,

Risk state#ent

"itigation goal #easres

Res+onsi/le +ersonsRelated risks

'e date or task +lan !o#+letion

'e dates and !losing dates

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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010-1>

7ask Plan !ont.

C$osen strategies

+e!ii! a!tions

)dget!$edle "P

Risk tra!king indi!ators* t$res$olds*

re+orting re

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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010-1A

Risk R:%

Rle o 7$#/ do not s+end #ore t$an

10F on #itigation

U 10 P R "

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et "itigation Considerations

7r to !olle!t related risks into a set

!an /eneit ro# !oordinated #itigation

a9oid +ossi/l !onli!ting goalsin!rease !ost-ee!ti9eness

U 10 P R "

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ints

%' s+e!ii!* i#+le#enta/le a!tions $i!$

ill +ree#+t +ro/le#s

Create t$e desired rt$er state%ntegrate R""P it$ +roe!t +lans

Co##ni!ate #itigation +lans to all

ae!ted +ersonnel'o not lose sig$t o t$e end +rod!t

U t 10 P t R " t

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.2 trategies or Risk :++ortnities

E+loit

$are

En$an!e

U t 10 P t R " t

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.3 trategies or 7$reats and :++ortnities

8!!e+tan!e

U t 10 P t R " t

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.4 Contingent Res+onse trateg

Will $a++en onl i +redeined !onditions o!!r

E9ents t$at !an trigger t$e !ontingen! #st /e

deined and tra!ked

U t 10 P t R " t

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10.6 Risk "onitoring and Control

10.6.1 %n+ts 10.6.3 :t+t

.1 Risk "anage#ent Plan .1 Risk Register U+dates

.2 Risk Register .2 Re

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.2 Risk Reassess#ent

Risks are te#+oral

Constantl /eing reassessed

8t +roe!t #eetings or ea#+le

Un t 10 Pro e!t R s "anage#ent

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Risk 7ra!king

tarts as soon as R"P is done

Galis$ in t$at its 3 o/e!ti9es areD

1. to assess $et$er a risk does o!!r

2. to ensre t$at t$e risk a9ersion ste+s deined in t$e R""P are +ro+erl a++lied

and

3. to !olle!t inor#ation or t$e data/ase

t$is is a )%G o/


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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010-2>

:r Risk Paradig#

Control

%denti

?H? 8nal=e

Plan

7ra!k


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2014-%-01 &'r. (.". )ennett* P.Eng.* P"P ENGR 336010-2A

10.6 Controlling Risks

1. 8nal=ing

2. 'e!iding

3. Ee!ting


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.2 Risk 8dits

Ior#al !$e!ks / #anage#ent to ensre

t$at +ro+er risking is o!!rring


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8nal=ing 7ra!king 'ata

Case and ee!t 8nalsis

Cost-)eneit 8nalsis

"itigation tats re+ortsPER7 C$arts

+reads$eet Risk 7ra!king

to+lig$t C$art


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2 'e!iding

7$ere are 4 o+tions

1 re+lan

2 !lose t$e risk

3 in9oke a !ontingen! +lan

4 !ontining tra!king


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3 Ee!ting

%#+le#ent t$e !ontrol de!isions

#a de!ide to !lose ot t$e risks


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.5 Reser9e 8nalsis

We !o#+are #itigation !osts against

re#aining reser9es


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7$e End o Risk

'eat$



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'il/ert@s Risk J ;:;

Documents

3360 UNIT 10.5 2014-I-01