Impact of
Not
Managing
Project
Risks
Impact of Not Managing Project Risks
Agenda
Introductions & Announcements
Learning Outcomes
Understand the risk management cycle and treatment methods
Understand the methods in building a risk register
Understand the importance of risk management in a successful project
Presentation
Describe the project
Review and discuss risk management cycle (identify exposures, quantify likelihood
and impact, implement treatments, monitor)
Group exercise in building a risk register
Discuss results
Discuss the impact to the project if your risk management cycle is not an important
part of the plan
How could this plan have been improved?
+/Δ
Learning Outcomes
• Understand the risk management cycle and
treatment methods
• Understand the methods in building a risk
register
• Understand the importance of risk
management in a successful project
Project
• Replace current information system for managing the
University’s student conduct and behavior intervention
cases.
• Supports all campuses (one code of conduct).
• Supports 200 staff and 500 RA’s and thousands of students
using the self-service portal.
• Goals
–
–
–
–
–
–
Must support 100% paperless processes
Must support Federally mandated compliance reporting
Must support mobile users
Must have excellent support
Must have excellent uptime (99.99%)
Must support Shibboleth
Penn State Risk Management, Gary Langsdale, presented at EduCause.
Risk Management elements
Reference: en.wikipedia.org under IT Risk Management
Penn State Risk Management, Gary Langsdale, presented at EduCause.
Risk ID
Title and Description
Impact
Probability/Priority (Lo, Med, High)
Date and Steps Taken to Minimize This Risk
Individual Assigned to Own and Manage This Risk
From Wikipedia, the free encyclopedia - https://en.wikipedia.org/wiki/Risk_register
A wide range of suggested contents for a risk register exist and recommendations are
made by the Project Management Institute Body of Knowledge (PMBOK) and PRINCE2
among others. In addition many companies provide software tools that act as risk
registers. Typically a risk register contains:
•
•
•
•
•
•
A description of the risk
The impact should this event actually occur
The probability of its occurrence
Risk Score (the multiplication of Probability and Impact)
A summary of the planned response should the event occur
A summary of the mitigation (the actions taken in advance
to reduce the probability and/or impact of the event)
The risks are often ranked by Risk Score so as to highlight the highest priority risks to all
involved.
Your Turn
• Break into groups of 3 or 4 members.
• Build risk register for the “Birthday Party”
project
• Show example and discuss each group’s risk
register.
Group Exercise 1 – example of Risk Register
for project “birthday party”
Your Turn Again
• Break into groups of 3 or 4 members.
• Build risk register for the “Student Conduct
and Campus Safety software purchase and
implementation” project
• Show example and discuss the group’s
register.
We Did Not Plan For That To Happen
• Why?
• What did we do?
• How is it going now?