A Guide to Project Management

And analysis 5 scope changes 2 tools and techniques 1

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Unformatted text preview: equate quality of the project plan, poor use of project management disciplines. Organizational risks--such as cost, time, and scope objectives that are internally inconsistent, lack of prioritization of projects, inadequacy or interruption of funding, and resource conflicts with other projects in the organization. External risks--such as shifting legal or regulatory environment, labor issues, changing owner priorities, country risk, and weather. Force majeure risks such as earthquakes, floods, and civil unrest generally require disaster recovery actions rather than risk management. .4 Historical information. Information on prior projects may be available from the following sources: Project files--one or more of the organizations involved in the project may maintain records of previous project results that can be used to identify risks. These may be final project reports or risk response plans. They may include organized lessons learned that describe problems and their resolutions, or be available through the experience of the project stakeholders or others in the organization. Published information--commercial databases, academic studies, benchmarking, and other published studies may be available for many application areas. geE L geE PL P 11.2.2 Tools and Techniques for Risk Identification .1 Documentation reviews. Performing a structured review of project plans and assumptions, both at the total project and detailed scope levels, prior project files, and other information is generally the initial step taken by project teams. .2 Information-gathering techniques. Examples of information-gathering techniques used in risk identification can include brainstorming; Delphi; interviewing; and strengths, weaknesses, opportunities, and threats (SWOT) analysis. Brainstorming. Brainstorming is probably the most frequently used risk identification technique. The goal is to obtain a comprehensive list of risks that can be addressed later in the qualitative and quantitative risk analysis processes. The project team usually performs brainstorming, although a multidisciplinary set of experts can also perform this technique. Under the leadership of a facilitator, these people generate ideas about project risk. Sources of risk are identified in broad scope and posted for all to examine during the meeting. Risks are then categorized by type of risk, and their definitions are sharpened. Delphi technique. The Delphi technique is a way to reach a consensus of experts on a subject such as project risk. Project risk experts are identified but participate anonymously. A facilitator uses a questionnaire to solicit ideas about the important project risks. The responses are submitted and are then circulated to the experts for further comment. Consensus on the main project risks may be reached in a few rounds of this process. The Delphi technique helps reduce bias in the data and keeps any person from having undue influence on the outcome. Interviewing. Risks can be identified b...
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