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Unformatted text preview: down Structures Structures (RBS) Construction Project XYZ Business / Market Technical Financial Project Management Economic parameters Technology Ext. funding sources sources Suppliers Location conditions Self-financing Laws & regulations Site resources Dr. Maged Ezzat Georgy Qualitative Risk Analysis Plans & estimates Communication HR skills Risk Risk Analysis Once risks are identified, it is time to analyze and prioritize prioritize them. Based on the analysis, appropriate response plans are devised. The analysis will identify the magnitude of each risk via: ◦ Probability ◦ Impact Dr. Maged Ezzat Georgy Qualitative Risk Analysis Done at the earlier project stages. Due to lack of sufficient information, probabilities and impacts are assessed using qualitative / linguistic terms (e.g., low, high, etc). Then, risks are categorized (or ranked) according to their significance to the project objectives. Dr. Maged Ezzat Georgy How How to Qualitatively Assess Project Risks Tools/techniques for qualitatively assessing risks: ◦ Historical information & records. ◦ Methods used in risk identification. ◦ Matrix method (also called, probability-impact matrix). ◦ Scoring / indexing technique (using rating scales). ◦ SWOT analysis (concerned more with organizational risks than than project risks). ◦ etc. Dr. Maged Ezzat Georgy Historical Information Reviewing documentation of “past projects” that are comparable in scope, complexity, etc. Past projects can be a useful source for the preliminary preliminary assessment of each identified risk: ◦ How frequent the risk occurred. ◦ To what extent the risk, when materialized, affected these past projects. Dr. Maged Ezzat Georgy Linguistic Linguistic Rating Scales To judge either the probability or the impact for a new project, one can use a linguistic scale, such as: ◦ Very risky, not so risky. ◦ High, Low. ◦ High, Medium, Low. ◦ High, Medium High, Medium, Medium low, Low. ◦ etc. Dr. Maged Ezzat Georgy ProbabilityProbability-Imp...
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