Risk Mangement- Evaluate risks in your projects

8/13/2019 Risk Mangement- Evaluate risks in your projects

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1/30/2014 Gagan Gupta


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Project Management is the dynamic process that

utilizes the appropriate resources of the organization

in a controlled and structured manner, to achieve

some clearly defined objectives identified as strategicneeds. It is always conducted within a defined set of

constraints.



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Planning

Implementation

Monitoring &Control

Evaluation



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A Project is considered as Failure

Whenever a projectdoesntmeet to the

expectation of the

Stakeholders.



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Cost & Time Over-runs

Quality Degradation

Frustration & Stress: sometime resulting in people

quitting Low Job Satisfaction

Low Corporate Market Value

Low Public Opinion

Negative Media Campaigns

May even force the company into Closure



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Also Known as Youd like it, just a bit bigger.

No Problem.

Oh Still a bit Bigger. OK

Even Bigger? It wasnt in the plan but Okay.


When Scope creeps, the end

results is always more work

than expected.


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Problems:

The changes that were not initially planned for, are added to project.

The Project takes longer and costs more than planned and there is no

record of WHY??

Causes:

Not having a method to handle or recognize changes.

What to do:

Document the change management process to be used and followed

by Project Team. Educate the project Team to recognize a change or deviation from the

Plan.

Follow the Change Management Process.



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Problems:

Team Members do not have the information they need when they

need it.

Issues or changes do not get escalated.

Project reporting is sluggish

Causes:

The projects communication plan was not completed.

The projects communication plan doesnt have enough details.

What to do:

Find out the communication requirements of all team members, and

stakeholders, then document them in a common plan, and then follow

the Plan.


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You do not have enough people, the right skill-sets, or the

team is not committed to the projects.

Problems:

Tasks take longer than expected

to complete.

Deadlines and milestones get

missed.

Project completion date comes

into jeopardy.

You end up working double shifts to

complete all the works.


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Causes:

There was no pre-commitment of resources to the projects.

The Project was not supported.

There was no analysis and documentation of all skill-set required.

What to do:

Get executives Sponsorship for the project.

Document which resources and skill-sets are needed to get the job

done.

Create a plan that gives enough time to get the job done with theallocated resources.

Pre-assign the required resources to the team.



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I would like a set of stairs that leads up to a bridge.

Problems:

Customer will be unhappy.

Customer will complain and you will end up doing the what they want-

at your expense.


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Causes:

What the customer wants, was not clearly documented.

What you believe the customer wants is different that what the

customer believes they have asked for?

What to do:

Find out and document exactly what the customer wants.

Inform everybody of the project scope.

Document Business, Functional and technical requirements.



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How do you figure out how long the project will take?

Problems:

An unrealistic timeline or budget will be agreed to.

You will not be able to do all the work in the time allocated.


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Causes:

No formal estimating method

Estimate confidence is law.

Volume of work not understood

What to do:

List all the work as well as possible.

Estimate each work package.

Add up all work packages.

Always give answer using a range of dates



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Sorry about the project, I left it in my car & there was a bit of

an incidents.

Problems: Unexpected events cause delays.

Domino effect of thing going wrong.


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Causes:

No Formal Risk Management.

Just try to predict the big things that can go wrong.

Its the sum of the all little things that make a project late.

Nothing is more stressful than trying to keep on schedule when

unexpected things keep happening.

What to do:

List all the work as well as possible.

Figure out what can go wrong with each piece of work.

Prioritize each risk as High/ Medium/ Low Probability or impact.

Sort the list.

Create a plan to deal with the risks at the top of list.



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Emergency Phone installed, Deliverable completed

Problems:

Difficult to get the agreement that the product is finished. Customer Keep wanting more, saying you didnt do it to their

Specification.


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Causes:

The Milestones or deliverables were not measurable.

The customer never told us How many they wanted So we just

assumed 1,

What to do:

Ensure Milestones or Deliverables are:

Clearly Defined

Measurable (Quantifiable)



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Of course we Can do that for you.

Problems:

There was little or no planning before deciding you can get the jobdone.

The task you agree to turns out to be more work than expected.

It takes you longer and jeopardizes other deliverables.


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Causes:

Not enough time spent planning.

You may have been pressured into giving an answer right then and

there.

Didnt have a full understanding of the work involved beforecommitting.

What to do:

Take the time to fully understand the work before agreeing to it.

Its okay to say the work is not possible or will take too long Only agree to work when youre sure it can be done, this will benefit

you and your managers.



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Hurry .... We have a tight deadline. No time to plan. Just start digging.

Problems:

The plan is flawed from the start.

The project gets out of control and cant be recovered.


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Causes:

You have to do the work and werent also given time for project

management.

Perhaps you only have 10% or 20% allotment for the project

management duties. What to do:

Planning a project is like setting out a roadmap. Without it you will

likely get lost.

Controlling a project is like driving a car. You have to continuously

watch the road (the Plan) and make little adjustments.



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I think I know how this helmet goes on. I have been riding scooters for two

years now.

Problems:

Your project dont finish on time.

Your project are always squeezed at the end. Your project are stressful.

You have to deal with unrealistic expectation or customers.

You feel your projects are out of control.


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Causes:

People often dont know what they dont know.

Their project are out of control but they dont know WHY??

They feel they are doing okay but could benefit from formal project

management education.

What to do:

Learn the methods, tools, and techniques successful Project manager

use to initiate, plan, execute and control their projects.



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Presented by Gagan Gupta

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Risk Mangement- Evaluate risks in your projects