College of Engineering
Roorkee
• Project
• Report on Risk Management
• Under The guidance of
• MS. Akansha
• Assistance Professor
submitted by
Shilpi Kandasi
201490500058
Risk Management
What is Risk Management ?
• Risk is an uncertain event
that may have a Positive or
negative impact on the
project.
• Risk management is the
process of identifying and
migrating risk.
Why is it important ?
Risk affects all aspects of your project- your
budget, your secduled, your scope, the agreed
the agreed level of quality,and so on
Increase probability of positive event.
Reduce the occurrence of negative event.
What does it
include ?
• Risk management Planning
• Risk identification
• Qualitative risk analysis
• Quantitative risk analysis
• Risk response planning
• Risk monitoring and control
How is it done in
project?
•
Make risk management part of your project
•
Identifty risk early in your project
•
Communicate about Risks
•
Consider both threat and opportunities
•
Clarify ownership issues
•
Prioritise Risks
•
Analyse risks
•
Plan and implement risk and response
•
Register project risks
•
Track risk and associate tasks.
Risk Management
project
• Plan Risk Management
• Identify Risk
• Qualitative Risk Analysis
• Quantitative Risk Analysis
• Plan Risk Response
• Monitor and control Risk
Plan Risk Mangement
Analysis and decision making to
implement risk manement.
Appropriate to size and
complexity of the project.
Stake holder will be involved in
planning risk management.
Identify Risk
• which risk has a more probability of affecting the
project?
• SWOT Analysis
• Information Gathering
• Check-List Analysis
• Assumptions Analysis
Qualitative Risk
• Asses impact and likelihood of the identified risk.
• Probability and impact Matrix.
• Risk categorization.
• Risk urgency assessment.
Data gathering
-Direct
-Diagramatic
-Delphi
Quantitative
Risk Analysis
Probability distribution
Modeling technique
-Decision Tree analysis
-Sensitive analysis
-Expert judgement
Plan Risk Response
Monitor and Control
Risk
• Risk Reassesment( Scheduled regularly to
identify new risk)
• Risk audit(Examine the effectiveness of
planned risk response)
• Trend analysis (Monitor overall Project
Performance)
What are benefits
Effective use of
resources
Promoting
continuous
improvement
Fewer shocks and
failures
Strategic business
planning
Raised awareness
of significant
risks.
Quick grasp of
new opportunity
Enhancing
communication
Reassuring
stakeholders
Foccus on
internal audit
programe
Recognition of
responsibility and
accountability
How does
Primavera help?
• Keep track of issue.
• Maintain threshold
• Health of project
• Track overall project progress to
identify any deviation
Conclusion
To manage the risk we need to
establish a strong bond between
the customers and the team
members.
A strong base about risk
management would help a great
deal in tackling risk.
Risk necessarily need to be
negative and it can be viewed as
an opportunity to develop our
projects in a better way.