1 PROJECT RISK MANAGEMENT DEFINITION OF A RISK OR RISK EVENT: A discrete occurrence that may affect the project for good or bad. DEFINITION OF A PROBLEM OR UNCERTAINTY: An uncommon state of nature, characterized by the absence of any information related to a desired outcome. RISK FACTORS: When looking at risk, one should determine: The probability that it will occur (what) The range of possible outcomes (impact or amount at stake) Expected timing (when) in the project life cycle Anticipated frequency of risk events from that source (how often) RISK AVERSE: Someone who does not want to take risks. RISK TOLERANCES: The amount of risk that is acceptable (tolerance level). For example, a risk that affects our reputation will not be tolerated, or a risk of a two-week delay is okay. DEFINITION OF RISK MANAGEMENT: The process involved with identifying, analyzing, and responding to risk.
2 INPUTS TO RISK MANAGEMENT: What is needed in order to begin the risk process. Project background information Historical information Past lessons learned Project charter Scope statement Team Stakeholders WBS Network diagram Cost and time estimates Staffing plan Organizational policies and templates Procurement plan Stakeholder risk tolerances Detailed information about the project, what other companies are doing, articles and other such information will help you identify more risks Will tell you risks from past projects Will tell you what past teams would do if they could do their projects again Will help you identify, mitigate and manage risks on your project Helps you see if the overall project objectives are generally risky or not Helps identify risks based in what is and what is not included Tells you the complexity of the project and helps you compare your team s knowledge and experience to what is required The project manager cannot identify all the risks alone. A group approach and the ability to split up risk management activities make the risk management process more accurate and timely. They will be able to see risks that the team cannot. Their involvement helps continue proper stakeholder management Risks are identified by task as well as by project Shows path convergence (where paths converge) and thus helps to better analyze the risks of each task High-level time and cost requirements help identify time and cost risk. Helps you understand what resources are available Provide a foundation or standardization for your risk activities There is a strong connection between contracts (or procurement) and risk. One of the ways to mitigate risk may be to have certain terms and conditions added to a contract or to have the entire risky work outsourced. You would give it to someone for whom it is less risky, and thus less costly. Knowing where and how much risk tolerance stakeholders have helps identify the impact of risks and which risk mitigation techniques you would use RISK MANAGEMENT PROCESS: This is an important topic. The risk management process includes six steps: 1. Risk Management Planning 2. Risk Identification 3. Qualitative Risk Analysis 4. Quantitative Risk Analysis 5. Risk Response Planning 6. Risk Monitoring and Control
3 STEP 1: RISK MANAGEMENT PLANNING: Defined as deciding how to approach and plan the risk management activities for a project. The project manager, team, customer, stakeholders, experts and others will review any templates and procedures that exist for risk management, determine how risk management will be handled on the current project and develop the risk management plan. Therefore, risk management should be adjusted to the size, complexity, experience, skill level, etc., of the project and not done with just a standardized checklist. RISK MANAGEMENT PLAN: Defines how the risk process will be structured and performed during the project life cycle. A risk management plan includes the following: Methodology Roles and responsibilities- non-team members may be included Budgeting for the risk management process Timing- how often the risk process will be performed throughout the project Scoring and interpretation Thresholds a method to determine which risks will and will not be acted upon Reporting formats Tracking Because a risk management plan contains budget and schedules, it is an input to schedule development and cost budgeting. OUTPUTS FROM RISK PLANNING: Risk management plan- described above STEP 2: RISK IDENTIFICATION: Defined as determining which risks might affect the project and documenting their characteristics. All stakeholders as well as experts from other parts of the company or outside the company may be involved in identifying risks. Sometimes, the core team will begin the process and then the other members will become involved, making risk identification an iterative process. Smart project managers begin looking for risks as soon as a project is first discussed. However, the major risk identification effort occurs during planning. Risk identification cannot be completed until a WBS has been created and the project team knows what is the project. Because risk identification can occur during the initiation and planning
4 phases, it is often said that risk identification happens at the onset of the project. Risks may be identified at the beginning of the project, during each project phase and before approval of a major scope change. Risks may also be identified during all phases of the project including initiating, planning, executing, controlling and closing. In other words, although the major risk identification effort occurs at the onset of the project, risks should continue to be identified throughout the project. RISK CATEGORIES: Risk categories are lists of common categories of risk (sources of risk) experienced by the company or on similar projects. Such a list may be an input to risk identification, but using such a list of categories is not the entire risk identification process. The categories help analyze and identify risks on each project. * See Additional Handout There are many ways to classify or categorize risk: Technical, quality or performance risks Project management risks Organizational risks External risks A prior version of the PMBOK included another way to classify risks. External- Regulatory, environmental, government, market shifts Internal- Time, cost, unforeseen conditions, scope changes, inexperience, poor planning, people, staffing, materials, equipment Technical- Changes in technology Unforeseeable- Only a small portion of risks (some say about 10%) are actually unforeseeable
5 If you look at categories of risks as where do risks come from, sources of risks might be different then the list above. Below are some examples of risk. Schedule risk The hardware will arrive later than planned causing a delay in task XYZ of three days. Cost risk Because the hardware will arrive later than planned, we may need to extend our lease on the staging area at a cost of $20,000. Quality risk The concrete may not dry before winter weather sets in causing us to not meet our quality standard of concrete strength. Performance or scope of work risk We might not have correctly defined the scope of work for the computer installation. If that proves true we will have to add tasks at a cost of $20,000. Resource risk Dave is such an excellent designer that he may be called away to work on a new project. This will result in our schedule slipping between 100 to 275 hours. Customer satisfaction (stakeholder satisfaction) risk There is a chance that the customer will not be happy with the XYZ deliverable and not tell us, causing at least a 20% increase in communication problems. INFORMATION-GATHERING TECHNIQUES Below are several methods to identify risk: Brainstorming: Usually done in a meeting where one idea helps generate another Delphi technique: a multi-session data gathering technique Interviewing: Also called expert interviewing on the exam and consists of the team or project manager interviewing an expert to identify risks on the project or a specific element of work Strengths, weaknesses, opportunities and threats analysis: An analysis that looks at the project to identify its strengths, etc. and thereby identify risks.
6 TYPES OF RISK: Risks can be classified under two main types: 1. Business Risk of a gain or loss 2. Pure (insurable) Risk Only a risk of loss (e.g. fire, theft, personal injury) OUTPUTS FROM RISK IDENTIFICATION Risks Risk Triggers warnings signs or alerts. A project manager should determine what are the early warning signs (indirect manifestations of actual risk events) for each risk on a project so that they will understand when to take action. STEP 3: QUALITATIVE RISK ANALYSIS: Is a subjective analysis of risks to: Determine which risk events warrant a response Determine the probability and impact of all risks identified in step 2, in a subjective manner Determine which risks to analyze more fully in risk quantification or to skip risk quantification in favor of going directly to risk response planning. (This decision depends on many factors, including the importance of the project and the potential effect of the project on the performing organization.) Document non-critical, or non-top risks Determine the overall ranking of the project PROBABILITY AND IMPACT: One of the ways to help rank risks is to analyze the probability of a risk occurring and the effect (or impact or consequences) of the risk on the project. Determine the probability of each risk occurring usually in the form of taking an educated guess (e.g. Low, Medium, High or 1 to 10)
7 Determine the consequences (amount at stake, or impact) of each risk occurring in the form of taking an educated guess (e.g., Low, Medium, High, or 1 to 10) ASSUMPTION TESTING: or what assumptions have been made. Before the project manager can use the risk information collected, assumptions made must be identified and tested. Too many unknown guesses make the data unreliable. Remember an assumption is: What are we taking for granted? DATA PRECISION RANKINGS: How well is the risk understood? What is the extent of the understanding of the risk? Data available about the risk Quality of the data Reliability and integrity of the data RISK RATING MATRIX: In order to sort or rate risks so determination can be made as to which risks will move on through the risk process, a risk rating matrix may be used. Such a matrix results in a consistent evaluation of low, medium, or high (or some other scale) for the project and for all projects, an improvement in the quality of the data, and the risk process being more repeatable between projects. OUTPUTS FROM QUALITATIVE RISK ANALYSIS: The results of qualitative analysis of the risk of a project may include: Risk rating for the project List of prioritized risks List of risks created for additional analysis in risk quantification or risk response planning Non-critical or non-top risks documented for later revisiting during risk monitoring and control
8 Risk Qualification provides information so that: The project can be compared to the overall risks of other projects The project could be selected, continued or terminated Resources could be moved between projects A full benefit/cost analysis of the project may be able to be completed Trends in project risk identified if risk qualification is repeated STEP 4: QUANTITATIVE RISK ANALYSIS: Is a numerical analysis of the probability and consequences (amount at stake or impacts) of the highest risks on the project to: Determine which risk events warrant a response Determine overall project risk (risk exposure) Determine the quantified probability of meeting project objectives e.g. We only have an 80% change of completing the project within the six months required by the customer: to We only have 75% change of completing the project within the $80,000 budget. Determine cost and schedule reserves Identify risks requiring the most attention Create realistic and achievable cost, schedule or scope targets Risk quantification involves the following activities: Further investigation into the highest risks on the project Determine the type of probability distribution that will be used e.g. triangular, normal, beta, uniform, or log normal distributions Interviewing experts
9 Sensitivity analysis determining which risks have the most impact on the project Monte Carlo simulation (simulation) described later Decision tree analysis described later EXPECTED MONETARY VALUE (OR EXPECTED VALUE): The product of two numbers, probability and consequences (impact or the amount at stake). Questions can ask, What is expected value of a task or of a series of tasks? Expected value questions can also be asked in conjunction with decision trees. EXERCISE: Test yourself! Complete the following chart. Task Probability Consequences Expected Value A 10% $20,000 $2,000 B 30% $45,000 $13,500 C 68% $18,000 $12,240 DECISION TREE: Know the following: A decision tree takes into account future events in trying to make a decision today. It calculated the expected value (probability times consequences) in more complex situations than the expected value previously presented It involves mutual exclusivity
10 EXERCISE: A company is trying to determine if prototyping is worthwhile on the project. They have come up with the following consequences of whether the equipment works or fails when it is used. Based on the information provided below, what is the expected value of your decision? Prototype: Setup cost $200,000 Failure: 35% probability and $120,000 impact Pass: no impact Failure: 70% probability and $450,000 impact Do Not Prototype: Setup cost $0 Pass: no impact Answer: if one just looks at the setup cost of prototyping is would seem like an unwise decision to spend money on prototyping. However, the analysis proves differently. Taking into account only one failure, the decision is that it would be cheaper to do the prototyping. The answer is $242,000, or to prototype. Prototype 35% x $120,00 = $42,000 plus $200,000 = $242,000 Do not 70% x $450,000 = $315,000 prototype
11 MONTE CARLO SIMULATION: this simulation performs the project many times, uses the network diagram, and estimates to simulate the cost or schedule results of the project. Monte Carlo Simulation: Evaluates the project, not the tasks Provides the probability of completing the project on any specific day, of for any specific amount of cost Provides the probability of any task actually being on the critical path Provides a percent probability that each task will be on the critical path Takes into account path convergence (places in the network diagram where many paths converge into one task) Translates uncertainties into impacts to the total project Can be used to assess cost and schedule impacts Is usually done with a computer-based Monte Carlo program because of the intricacies of the calculations Results in a probability distribution OUTPUTS FROM QUANTITATIVE RISK ANALYSIS: When completed, quantitative risk analysis results in: A prioritized list of quantified risks Forecasts of potential project costs or schedule A listing of the possible project completion dates and costs with their confidence levels A probability of achieving the required project cost or schedule objectives Trends in risk as risk qualification is repeated through the project A documented list of non-critical, non-top risks
12 Step 5: RISK RESPONSE PLANNING: This step involves figuring out - What are we going to do about it? It involves finding ways to make the negative risk smaller or eliminate it entirely, as well as finding ways to make positive risks more likely or greater in impact. All risk on a project cannot be eliminated. During this step: Strategies are agreed upon in advance by all parties Primary and backup strategies are selected Risks are assigned to individuals or groups to take responsibility Strategies are reviewed over the life of the project for appropriateness as more information about the project becomes known RISK OWNER: Each risk must be assigned to someone who will help develop the risk response and who will be assigned to carry it out or own the risk. The risk owner is then free to take predetermined action when risks occur, resulting in faster action and less cost, time and other impacts on the project. RISK RESPONSE STRATEGIES: developing options and determining actions to enhance opportunities and reduce threats. This may involve changing the planned approach to completing the project e.g. changing to the WBS, quality plan, schedule and budget. These strategies cannot eliminate all risk. In each case, communication of risks and strategies is necessary as apart of the strategy. The choices include: AVOIDANCE eliminate the threat by eliminating the cause MITIGATION - reduce the probability or the consequences of an adverse risk and increase the probability or consequences of an opportunity ACCEPTANCE Do nothing and say, if it happens, it happens Active acceptance may involve the creation of contingency plans and passive acceptance may leave actions to be determined as needed. A decision to accept a risk must be communicated to stakeholders.
13 TRANSFERENCE (DEFLECTION, ALLOCATION): Make another party responsible for the risk though purchasing of insurance, performance bonds, warranties, guarantees or outsourcing the work. Here is where the strong connection between risk and procurement (or contracts) begins. One must complete risk assessment before a contract can be signed! Transference of risk is included in the terms and conditions of the contract. When selecting risk strategies, it is important to remember: Strategies must be timely The effort selected must be appropriate to the severity of the risk avoid spending more money preventing the risk than the impact of the risk would cost if it occurred One response can be used to address more than one risk Involve the team, stakeholders and experts in selecting a strategy Description of strategy Remove a task form the project Assign a team member to visit the seller s manufacturing facilities frequently to learn about a problem with delivery as early as possible Notify management that there would be a major increase if a risk occurs because no action is being taken to prevent the risk Remove a troublesome resource form the project Provide a team member who is less experienced with additional training Train the team on conflict resolution strategies Outsource difficult work to a more experienced company Ask the client to handle some of the work Decide to prototype a risky piece of equipment Name of risk response strategy Avoidance Mitigation of the impact Acceptance Avoidance Mitigation of the probability Mitigation of the impact Transference Transference Mitigation of the probability
14 OUTPUTS FROM RISK RESPONSE PLANNING INSURANCE: a response to certain risks such as fire, property, or personal injury (e.g. pure risks) is to purchase insurance. Insurance exchanges an unknown risk for a known risk because the consequences of the risk are known. CONTRACTING: hiring someone outside your company to complete the work when it would decrease project risk. NOTE: you cannot remove all the risk form a project by sub-contracting. For example, if there is a risk of damage in transport for a project component, hiring someone else to do the transportation will not make the move riskfree. RESIDUAL RISK: some risks will remain after risk mitigation or risk response planning. Though these risks may have been accepted, they should be properly documented and revised through the project. What was thought of as an acceptable risk during planning may not have the same ranking during executing. SECONDARY RISKS: Included in risk response planning should be an analysis of the new risks created by the risk response strategies selected. Frequently, what is done to mitigate one risk will cause other risks to occur. For example, a risk of fire can be allocated to an insurance company but also cause risk of cash flow problems. Cash flow should then be analyzed CONTINGENCY PLANNING: Planning the specific actions that will be taken if a risk event occurs. These plans can be put in place later, if needed, without meetings or increased impact to the project caused by delayed actions. FALLBACK PLANNING: specific actions that will be taken if the contingency plan is not effective. RISK RESPONSE PLAN: A written document that captures the risks you identified and what you plan to do about them. The project manager should also record non-critical risks so that they can easily be revisited during the execution phase. REVISED PROJECT PLAN: The efforts spent in risk management will result in changes to the project plan. Tasks could be added, removed, or assigned to different resources. This, planning is an iterative process.
15 RESERVES: Formulating the amount of time or cost that needs to be added to the project to account for risk. These are sometimes called management reserves (to account for unknown unknowns items you did not or could not identify in risk management) and contingency reserves (to account for known unknowns items you did identify in risk management). Reserves should be managed and guarded throughout the project life cycle. Exercise: You are planning the manufacture of an existing products modification. Your analysis has come up wit the following. What is the cost reserve that you would use? 30% probability of a delay in the receipt of parts with a cost to the project of $9,000 20% probability that the parts will be $10,000 cheaper than expected 25% probability that two parts will not fit together when installed, costing an extra $3,500 30% probability that the manufacture may be simpler than expected, saving $2,500 5% probability of a design defect causing $5,000 of rework 30% x $9,000 Add $2,700 20% x $10,000 Subtract $2,000 25% x $3,500 Add $875 30% x $2,500 Subtract $750 5% x $5,000 Add $250 TOTAL $1,075 Important Concepts or Questions to ask: What do you do with non-critical risks? Answer: Document and revisit periodically. Would you select only one risk response strategy? Answer: no, you can choose a combination of choices. What risk management activities are done during the executing phase of the project? Answer: watching out for non-critical risks that become more important. What is the most important item to address in project team meetings: Answer: Risk.
16 How would risks be addressed in project meetings? Answer: By asking, what is the status of risks? Any new risks? Any change to the order of importance? STEP 6: RISK MONITORING AND CONTROL: This step involves managing the project according to the risk responses plan and may include the following activities: Keeping track of the identified risks Implementing risk responses Looking for the occurrence of risk triggers Monitoring residual risks Identifying new risks Ensuring the execution of risk plans Evaluating the effectiveness of risk plans Developing new risk responses Communicating risk status and collecting risk status data Communicating with stakeholders about risks Determining if assumptions are still valid Revisiting low ranking or non-critical risks to see if risk responses need to be determined Taking corrective action to adjust to the severity of actual risk events Looking for any unexpected effects or consequences of risk events Re-evaluating risk identification, qualification and quantification when the project deviates from the project baseline Updating risk plans
17 Making changes to the project plan when new risk responses are developed Creating a database of risk data that may be used throughout the organization on other projects CONTINGENCY PLANS: planned responses to risks, or putting in place the contingency plans set up during risk response planning. RISK RESPONSE AUDITS: examining and documenting the effectiveness of the risk response and the person managing (owning) the risk. This is an important step in order to see if the plans put in place are effective and if changes are needed. RISK REVIEWS: Risk should be a major topic at team meetings to keep focus on risks and make sure plans remain appropriate. Remember that a result of such reviews may be additional risk analysis or qualification and quantification. OUTPUTS FROM RISK MONITORING AND CONTROL Workarounds: Unplanned responses to risks, or dealing with risks that you could not or did not anticipate. Which do you think are more frequent, contingency plans or workarounds? Most project managers will say workarounds because that has been the projects manager s experience. In fact, with proper risk management, workarounds become less frequent than contingency plans. Corrective actions - Changes to the project it is important to realize that the risk management process will change the project plan during planning and during executing. Updates to the risk response plan it is wise to always reevaluate whether the plans need any correcting or adjusting after each unidentified or identified risk occurs. Other updates - to risk database, checklists, etc.
Project Risk Management Study Notes PMI, PMP, CAPM, PMBOK, PM Network and the PMI Registered Education Provider logo are registered marks of the Project Management Institute, Inc. Points to Note Risk Management
CPM -100: Principles of Project Management Lesson E: Risk and Procurement Management Presented by Sam Lane email@example.com Ph: 703-883-7149 Presented at the IPM 2002 Fall Conference Prepared by the Washington,
The Importance of Project Risk Management Project risk management is the art and science of identifying, analyzing, and responding to risk throughout the life of a project and in the best interests t of
11 PROJECT RISK MANAGEMENT Project Risk Management includes the processes concerned with identifying, analyzing, and responding to project risk. It includes maximizing the results of positive events and
PROJECT RISK MANAGEMENT http://www.tutorialspoint.com/pmp-exams/project_risk_management.htm Copyright tutorialspoint.com Here is a list of sample questions which would help you to understand the pattern
Risk Management Primer Purpose: To obtain strong project outcomes by implementing an appropriate risk management process Audience: Project managers, project sponsors, team members and other key stakeholders
PMI Risk Management Professional (PMI-RMP ) - Practice Standard and Certification Overview Sante Torino PMI-RMP, IPMA Level B Head of Risk Management Major Programmes, Selex ES / Land&Naval Systems Division
FUNBIO PROJECT RISK MANAGEMENT GUIDELINES OP-09/2013 Responsible Unit: PMO Focal Point OBJECTIVE: This Operational Procedures presents the guidelines for the risk assessment and allocation process in projects.
Introduction to the ITS Project Management Methodology In September 1999 the Joint Legislative Committee on Performance Evaluation and Expenditure Review (PEER) produced a report entitled Major Computer
Customer/Project Name: The Basics There are four steps to assessing and managing risks, and effective risk management requires all four of them. 1. Identify the risks 2. Qualify the risks a. Assess each
This document is part of a series that explain the newly released PMBOK 5th edition. These documents provide simple explanation and summary of the book. However they do not replace the necessity of reading
Risk Management Motivations When we looked at project selection we just took into account financial data In the scope management document we emphasized the importance of making our goals achievable, i.e.
NATIONAL INFORMATION TECHNOLOGY AUTHORITY - UGANDA IT Project Management Methodology Project Risk Management Guide Version 0.3 Project Risk Management Support Guide version 0.3 Page 1 Version Date Author
Project Management Body of Knowledge (PMBOK) (An Overview of the Knowledge Areas) Nutek, Inc. 3829 Quarton Road, Suite 102 Bloomfield Hills, Michigan 48302, USA. Phone: 248-540-4827, Email: Support@Nutek-us.com
PMP Examination Tasks Puzzle game Here is a great game to play to test your knowledge of the tasks you will be tested on in the actual examination. What we have done is take each of the domain tasks in
PMP Certification Preparation Course LATVIKON (R.E.P.)Centre ABOUT THIS COURSE Your ability as a project manager to demonstrate best practices in Project Management both on the job and through professional
PMP Project Management Professional Study Guide, Third Edition Joseph Phillips McGraw-Hill is an independent entity from the Project Management Institute, Inc. and is not affiliated with the Project Management
PROJECT MANAGEMENT PLAN Outline VERSION 0.0 STATUS: OUTLINE DATE: Project Name Project Management Plan Document Information Document Title Version Author Owner Project Management Plan Amendment History
pm4dev, 2007 management for development series The Project Management Processes PROJECT MANAGEMENT FOR DEVELOPMENT ORGANIZATIONS PROJECT MANAGEMENT FOR DEVELOPMENT ORGANIZATIONS A methodology to manage
Project Processes for a Project Click the Knowledge Area title (below and left in blue underline) to view the details of each Process Group. Project Process Groups and Knowledge Areas Mapping Project Process
Appendix V Risk Management Plan Template Version 2 March 7, 2005 This page is intentionally left blank. Version 2 March 7, 2005 Title Page Document Control Panel Table of Contents List of Acronyms Definitions
Creating A Risk Management Plan A presentation based on the concepts taught in the Risk Management 1A course. Carlos Consulting Group Roseville, CA. (916) 521-2520 www.carlosconsulting.com 1 Objectives
Managing IT Projects Chapter 2 The PMI Framework The PMI Framework The Project Management Institute,USA is an internationally acclaimed organization Devoted to Creation & sharing of knowledge in the area
Introduction This comparison takes each part of the PMBOK and gives an opinion on what match there is with elements of the PRINCE2 method. It can be used in any discussion of the respective merits of the
PROJECT MANAGEMENT PLAN TEMPLATE < PROJECT NAME > Date of Issue: < date > Document Revision #: < version # > Project Manager: < name > Project Management Plan < Insert Project Name > Revision History Name
From Houston S: The Project Manager s Guide to Health Information Technology Implementation. Chicago: HIMSS; 2011; pp 27 39. This book is available on the HIMSS online bookstore at www. himss.org/store.
1 CIS12-3 IT Project Management Input, Output and Tools of all Processes Marc Conrad D104 (Park Square Building) Marc.Conrad@luton.ac.uk 26/02/2013 18:22:06 Marc Conrad - University of Luton 1 2 Mgmt /
1 Paper: Assignment Style: Harvard Pages: 10 Sources: 7 Level: Master Project Management [Student s Name] [Name of Institution] 2 Project Management Introduction The project management also known as management
PMP 2013 Exam Prep Course Overview This course has been designed to prepare participants to take the Project Management Institute's Project Management Professional (PMP) Exam, 2013 edition and is based
Chapter 2 Answers 1) d) They are all of equal importance unless otherwise stated The Triple Constraint of Project Management is that Scope, Time, and Cost are all equal unless otherwise defined as such.
i This Page Intentionally Left Blank i Table of Contents SECTION 1: INTRODUCTION AND OVERVIEW...1 SECTION 2: PROJECT CLASSIFICATION FOR OVERSIGHT...7 SECTION 3: DEPARTMENT PROJECT MANAGEMENT REQUIREMENTS...11
PROJECT MANAGEMENT PLAN CHECKLIST The project management plan is a comprehensive document that defines each area of your project. The final document will contain all the required plans you need to manage,
Risk/Issue Management Plan Centralized Revenue Opportunity System November 2014 Version 2.0 This page intentionally left blank Table of Contents 1. Overview... 3 1.1 Purpose... 3 1.2 Scope... 3 2. Roles
The document in this file is adapted from the IEEE standards for Software Project Management Plans, 1058-1998, which conforms to the requirements of ISO standard 12207 Software Life Cycle Processes. Tailor
METHOD 12 3 empowering managers to succeed Project Management Guidebook ISBN 0-473-10445-8 A bout this e-book This e-book was created by Method123 (see www.method123.com) to help provide you with a simple
Step by Step Project Planning Contents Introduction The Planning Process 1 Create a Project Plan...1 Create a Resource Plan...1 Create a Financial Plan...1 Create a Quality Plan...2 Create a Risk Plan...2
Integration Initiating ning Executing Monitoring & Controlling Closing 4.1 Develop Charter Statement Of Work Business Case 4.2 Develop 4.3 Direct and Manage Work 4.4 Monitor and Control Work 4.5 Perform
Project Integration Management Processes required to ensure that the various elements of the project are properly coordinated to meet / exceed stakeholder expectations. Project Plan Development Other ning
1.20 Appendix A Generic Risk Management Process and Tasks The Project Manager shall undertake the following generic tasks during each stage of Project Development: A. Define the project context B. Identify
Crosswalk Between Current and New PMP Task Classifications Domain 01 Initiating the Project Conduct project selection methods (e.g., cost benefit analysis, selection criteria) through meetings with the
5.1 Project Control Overview Project Control is a formal process in project management. In most respects, there is not a lot of room for creativity in the Control Phase of project management. The PMBOK
A Risk Management Standard Introduction This Risk Management Standard is the result of work by a team drawn from the major risk management organisations in the UK, including the Institute of Risk management
THE ONLY BOOK CAN SIMPLY LEARN PROJECT MANAGEMENT! Page 1 Contents ABOUT THE AUTHOR... 3 WHAT IS PROJECT MANAGEMENT?... 5 ORGANIZATIONAL INFLUENCES AND PROJECT LIFECYCLE... 11 PROJECT MANAGEMENT PROCESSES...
Minnesota Health Insurance Exchange (MNHIX) 1.2 Plan September 21st, 2012 Version: FINAL v.1.0 11/9/2012 2:58 PM Page 1 of 87 T A B L E O F C O N T E N T S 1 Introduction to the Plan... 12 2 Integration
Module 7 Management PMP Exam Questions PMP, PMBOK and the Registered Education Provider logo are registered marks of the Project Management Institute, Inc. Question 1 You and your manager are discussing
Project Zeus Risk Management Plan 1 Baselined: 5/7/1998 Last Modified: N/A Owner: David Jones/Zeus Project Manager Page Section 1. Introduction 3 1.1 Assumptions, Constraints, and Policies 3 1.2 Related
A Guide To The Project Body of Knowledge (PMBOK) Significant Changes from the 3 rd edition to the 4 th edition Major Changes The adoption of the verb-noun format for process names Amplification as to Enterprise
Project Management Professional (PMP) Examination Content Outline Project Management Institute Project Management Professional (PMP ) Examination Content Outline Revised August 2011 Published by: Project
What is PMP Certification exam? www.aryanengineering.com PMP stands for Project Management Professional certification exam. PMP, is one of the most respected and globally recognized certification is offered
Project Standards: A Review of Certifications/Certificates Standards for Project Supporting Certification and Certificates Certificate Certification The Project Body of Knowledge PMBOK Guide Projects in
Project Management Professional (PMP) Boot Camp According to the Project Management Institute, the world's leading association for the project management profession: "PMP Certification is the profession's
Joint Universities Computer Centre Limited ( JUCC ) Information Security Awareness Training- Session Four Data Handling in University Business Impact Analysis ( BIA ) Agenda Overview Terminologies Performing
Advanced Risk Management to Improve Cost and Schedule Performance on EPC Projects Risk-Management Best Practices from Nuclear Experience Palisade Risk Conference, 2014 Sola Talabi PhD MBA MSc BSc RMP Project
PROJECT MANAGEMENT GUIDELINE SECTION 4 - PROJECT EXECUTION AND CONTROL PHASE Table of Contents Introduction... 3 Project Execution and Control Phase Overview... 3 Activities and Documents in the Execution
PHASE 9: OPERATIONS AND MAINTENANCE PHASE During the Operations and Maintenance Phase, the information system s availability and performance in executing the work for which it was designed is maintained.
Computing Services Network Project Prepared By: Todd Brindley, CSN Project Version # 1.0 Updated on 09/15/2008 Version 1.0 Page 1 MANAGEMENT PLANNING Project : Version Control Version Date Author Change
RiskManagement MOTIS ESIEE 06/03/2012 Aloysius John March 2012 Risk Management is a Introduction Process for Project manager to identify factors that may more or less affect the success or the achievement
AIPM PROFESSIONAL COMPETENCY STANDARDS FOR PROJECT MANAGEMENT PART B CERTIFIED PRACTISING PROJECT PRACTITIONER (CPPP) Copyright: Australian Institute of Project Management Document Information Document
Project Management Process Prepared by Jay Knape PMI Project Project is... temporary endeavor undertaken to produce a unique products, service or result. UITS Project Definition For Columbus State University
Cost Management How Much Will This Project Cost? Moderator Janelle Abaoag Project Insight Marketing, Public Relations Janelle.Abaoag@projectinsight.com www.projectinsight.net All participants will be on
PMP SAMPLE QUESTIONS http://www.tutorialspoint.com/pmp-exams/pmp_sample_questions.htm Copyright tutorialspoint.com BASED ON PMBOK 5TH EDITION Here are 200 more objective type sample questions and their
Project Management for Implementing the Smart Grid By Power System Engineering, Inc. Abstract PM Methodology Using a Repeatable Project Management Approach Project management solutions for the Smart Grid
Ensuring Reliability in Lean New Product Development John J. Paschkewitz, P.E., CRE Overview Introduction and Definitions Part 1: Lean Product Development Lean vs. Traditional Product Development Key Elements
PROJECT MANAGEMENT PLAN TEMPLATE This Project Management Plan Template is free for you to copy and use on your project and within your organization. We hope that you find this template useful and welcome
Business Continuity Planning 101 Presentation Overview What is business continuity planning Plan Development Plan Testing Plan Maintenance Future advancements in BCP Question & Answer What is a Disaster?
PM in construction industry Construction 2. Lepel BME Department of Construction Technology and Management 19-03-2014 PM in general Project integration Project plan development Project plan execution Integrated
Minnesota Health Insurance Exchange Project (MNHI) Deliverable Definition Document (DDD) For Project Plan Date: 07-31-2012 11/9/2012 1:18 PM Page 1 of 8 1. High Level Deliverable Description The Project
The Plan s Journey From Scope to WBS to Schedule Presented by: Rick Clare, CBAP, PMP, OCP, CSM PM Centers USA, LLC. 2013 Company Background Consulting and Training (Virtual, Public and Private Training)
Project Management Professional (PMP) Examination Content Outline Project Management Institute Project Management Professional (PMP) Examination Content Outline June 2015 Published by: Project Management
Personal Financial Planning As a Project By Greg Caramanica, PMP, General Securities Representative Financial Planner with Arlington Wealth Planning (www.arlingtonwealthplanning.com) Introduction Having
ITIL by Test-king Number: ITIL-F Passing Score: 800 Time Limit: 120 min File Version: 15.0 Sections 1. Service Management as a practice 2. The Service Lifecycle 3. Generic concepts and definitions 4. Key
PROJECT MANAGEMENT METHODOLOGY SECTION 3 -- PLANNING PHASE Table of Contents Introduction...3-1 Overview...3-1 The Process and the Project Plan...3-1 Project Objectives and Scope...3-1 Work Breakdown Structure...3-1
Audit Checklist The following provides a detailed checklist to assist the audit team in reviewing the health of a project. Relevance (at this time) How relevant is this attribute to this project or audit?
University of Texas at El Paso Professional and Public Programs 500 W. University Kelly Hall Ste. 212 & 214 El Paso, TX 79968 http://www.ppp.utep.edu/ Contact: Sylvia Monsisvais 915-747-7578 firstname.lastname@example.org
RISK MANAGEMENT OVERVIEW - APM Project Pathway (Draft) Risk should be defined as An uncertain event that, should it occur, would have an effect (positive or negative) on the project or business objectives.
Characteristic Best Practice Estimate Package Component / GAO Audit Criteria Comprehensive Step 2: Develop the estimating plan Documented in BOE or Separate Appendix to BOE. An analytic approach to cost