Impact of Not Managing Project Risks. Agenda Introductions & Announcements Learning Outcomes...

Impact of Not

Managing Project Risks

Impact of Not Managing Project Risks

Agenda Introductions & AnnouncementsLearning Outcomes

Understand the risk management cycle and treatment methodsUnderstand the methods in building a risk registerUnderstand the importance of risk management in a successful project

PresentationDescribe the projectReview and discuss risk management cycle (identify exposures, quantify likelihood and impact, implement treatments, monitor)Group exercise in building a risk registerDiscuss resultsDiscuss the impact to the project if your risk management cycle is not an important part of the planHow could this plan have been improved?

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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 IDTitle and DescriptionImpactProbability/Priority (Lo, Med, High)Date and Steps Taken to Minimize This RiskIndividual 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?