Composite Risk Identification
The first step in creating a Composite Risk Plan is to identify the likely risks,
which may affect the project.
A series of risk categories is identified and for
each category, a suite of potential risks is listed. This may take place during
a ‘Risk Planning’ workshop, involving each of the key project stakeholders who
are involved in / affected by the project. This may include the project
sponsor, manager, team, suppliers, and in some cases, even the customer. Each
of the risks identified is described in detail and documented within the Risk
Plan.
Definition
Provide a formal definition for the term ‘risk’ for this project. For
example:
“A risk is defined as any
event which is likely to adversely affect the ability of the project to
achieve the defined objectives”. ©
Categories
Identify the likely categories of risks for this project. Each risk
category is a particular aspect of the project, which is likely to experience a
risk during the lifecycle of the project. Examples of typical risk categories
include:
·
Requirements
·
Benefits
·
Schedule
·
Budget
·
Deliverable
·
Scope
·
Issues
·
Supplier
·
Acceptance
·
Communication
·
Resource. ©
Risks
Identify the likely risks for each category provided above by completing
the following table. Each risk identified should be allocated a unique
identifier (id) number.
|
Category©
|
Description
|
Id
|
|
Requirements
|
·
The requirements
have not been clearly specified
·
The requirements
specified do not match the customer's needs
·
The requirements
specified are not measurable
|
1.1
1.2
1.3
|
|
Benefits
|
·
The business
benefits have not been identified
·
The business
benefits are not quantifiable
·
The final solution
delivered does not achieve the required benefits
|
2.1
2.2
2.3
|
|
Schedule
|
·
The schedule
doesn’t provide enough time to complete the project
·
The schedule
doesn’t list all of the activities and tasks required
·
The schedule
doesn’t provide accurate dependencies
|
3.1
3.2
3.3
|
|
Budget
|
·
The project
exceeds the budget allocated
·
There is
unaccounted expenditure on the project
·
There is no single
resource accountable for recording budgeted spending
|
4.1
4.2
4.3
|
|
Deliverables
|
·
The deliverables
required by the project are not clearly defined
·
Clear quality
criteria for each deliverable have not been defined
·
The deliverable
produced doesn’t meet the quality criteria defined
|
5.1
5.2
5.3
|
|
Scope
|
·
The scope of the
project is not clearly outlined
·
The project is not
undertaken within the agreed scope
·
Project changes negatively
impact on the project
|
6.1
6.2
6.3
|
|
Issues
|
·
Project issues are
not resolved within an appropriate timescale
·
Similar issues
continually reappear throughout the project
·
Unresolved issues
become new risks to the project
|
7.1
7.2
7.3
|
|
Suppliers
|
·
The expectations
for supplier delivery are not defined
·
Suppliers do not
meet the expectations defined
·
Supplier issues negatively
impact on the project
|
8.1
8.2
8.3
|
|
Acceptance
|
·
The criteria for accepting
project deliverables aren’t clearly defined
·
Customers do not
accept the final deliverables of the project
·
The acceptance
process leaves the customer dissatisfied
|
9.1
9.2
9.3
|
|
Communication
|
·
Lack of controlled
communication causes project issues
·
Key project
stakeholders are ‘left in the dark’ about progress
|
10.1
10.2
10.3
|
|
Resource
|
·
Staff allocated to
the project are not suitably skilled
·
Insufficient
equipment is available to undertake the project
·
There is a shortage
of materials available when required
|
11.1
11.2
11.3
|
0 comments:
Post a Comment