ERP-RiskManagement-v1

ERP-RiskManagement-v1 - Risk Management Ronald E Giachetti...

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1 July 10, 2007 1 ERP Methodology and Project Management Risk Management Ronald E. Giachetti, Ph.D. Associate Professor Industrial and Systems Engineering Florida International University July 10, 2007 Slide 2 “I am used to thinking three or four months in advance, about what I must do, and I calculate on the worst. If I take so many precautions, it is because it is my custom to leave nothing to chance” – Napoleon Bonaparte, in a conversation with Marshall Muart, March 14, 1808. Anticipate Risk!
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2 July 10, 2007 Slide 3 Risk Management s Risk management is a cross life cycle activity s Risk management activity is composed of several activities, each with a different emphasis at different times in the life cycle July 10, 2007 Slide 4 Risk Management s Risk management is the systematic process of identifying, analyzing, and responding to project risk. Risk is the possibility of suffering diminished software project success. Risk has two components: 1. The probability of failing to achieve an outcome 2. The consequences or impact of failing to achieve the outcome. Risk defines an event. The event has causes and consequences if it occurs. The consequences have negative impact on one or more project measures of success.
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3 July 10, 2007 Slide 5 Risk Data conversion takes longer than planned Insufficient personnel Technical obstacles SCHEDULE: project deployment delayed. COST: exceed budget. CAUSES CONSEQUENCES PERFORMANCE: low throughput. July 10, 2007 Slide 6 Risk Management Activities s Risk Management Planning s Risk Identification s Risk Analysis Qualitative Analysis Quantitative Analysis s Risk Response Planning s Risk Monitoring and Control
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4 July 10, 2007 Slide 7 Risk Handling Risk Assessment Risk Planning Planning/Process Preparations Risk Management Plan Organization & training Schedule & budget Risk Event Identification List of risk events Risk Analysis Risk Descriptions Risk Prioritization Ranked List of Risks Risk Handling Strategy Development List of Handling Options Risk Handling Option Analysis Best Options Generate Risk Abatement Plan Risk Plan Risk Monitoring Risk Monitoring and Control Status Reports PMBOK’s Risk Management Plan July 10, 2007 Slide 8 Risk Planning s The process of developing and
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ERP-RiskManagement-v1 - Risk Management Ronald E Giachetti...

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