Introduction

Topics

Detailed planning

AD 1

AD 2

AD 3

AD 4

AD 5

Risk areas

Identify risk issues

This will be part of a risk management process.
This process is covered in much more detail in the 'The Complete Risk Management package'

It is also covered as part of the PRINCE2® methodology under the component 'Management of Risk'.

All possible risks to the smooth running of the project should be identified.
This should be done at all levels of the project.

Naturally, committees like the Project Board will identify risks at a higher level, such as, the change in future exchange rates or interest rates.
In addition, managers at all levels must identify potential issue within their own remits, for example, a supplier going bust, changes in regulatory issues, delays in the delivery of critical equipment.

Analyse possible impacts

For each risk the impact on the project must be assessed.
This will be a mixture of the likelihood of the risk occurring and the level of the affect (that is the impact) on the project.

We know that if a risk will have a dramatic affect, for example and earthquake, it may be very unlikely to occur and as such could be ignored.
On the other hand it may be very likely to occur, for example exchange rate movement, but may be assessed as having only a minor affect.

The project management team may only be interested in high likelihood / high affect risks.
For these the project management team must make sure that suitable contingency plans are in place.
These must be costed and allowed for in the budget.

Record any actions

All risks raised must be recorded along with any actions decided.
Those responsible for implementing actions should be identified and recorded.

The progress of any existing risk issues must be addressed at suitable review points.

Record any methodology used

If you use any particular methods for assessing the risks or any assumptions etc these should also be recorded.

Risks are recorded within PRINCE2 2005 using the Risk Log and within PRINCE2 2009 [see ‘The Complete Project Management plus PRINCE2’] as the Risk Register.
Templates are provided in the product package.

PRINCE2® is a Registered Trade Mark of the Office of Government Commerce in the United Kingdom and other countries.

Non - PRINCE2 information

Purchase the full product

PRINCE2 2005

Introduction

Definition [see Introduction part 1]
Terminology [see Introduction part 2]
What is a project? Scope [see Introduction part 3]
The processes [see Introduction part 4]
Introduction to processes [see Introduction to processes]
59The components [see The components]

Analysing Risks [see Planning (PL) - part 7]
Designing a Project Management Team [see Starting up a Project (SU) - part 3]
Management of Risk [see Management of Risk - part 1]
Organization [see Organization - part 1]
Plans - benefits [see Plans - part 1]
Project Board [see Organization - part 2]
Risk [see Management of Risk - part 1]
Risk Log [see Managing Stage Boundaries (SB) - part 5]
Updating the Risk Log [see Managing Stage Boundaries (SB) - part 5]

PRINCE2 2009

Introduction

Foreword [see Foreword]
Purpose [see Introduction part 1]
What does a project manager do? [see Introduction part 2a]
What is it we wish to control? [see Introduction part 2b]
The structure of PRINCE2 [see Introduction part 2c]
What PRINCE2 does not provide [see Introduction part 3]

Dealing with changes to the project management team [see Organization - The PRINCE2 approach - The project management team – Dealing with changes to the project management team]
Organization [see Organization - Purpose]
Project Board [see Organization - The PRINCE2 approach - The project management team - Project Board]
Project management team structure [see Organization - The PRINCE2 approach - The project management team]
Size of the Project Board [see Organization - The PRINCE2 approach - The project management team - Size of the Project Board]

Plans

Risk

Assess [see Risk - Risk management procedure - Assess]
Communicate [see Risk - Risk management procedure - Communicate]
Identify – part 1 [see Risk - Risk management procedure - Identify – part 1]
Implement [see Risk - Risk management procedure - Implement]
Plan [see Risk - Risk management procedure - Plan]
Risk management in projects [see Risk - Risk management in projects]
Risk management procedure [see Risk - Risk management procedure]
Risk Management Strategy [see Risk - Risk Management Strategy]
Risk Register [see Risk - Risk Register]
What is a risk? [see Risk - Risk defined - What is a risk?]
What is at risk? [see Risk - Risk defined - What is at risk?]
What is risk management? [see Risk - Risk defined - What is risk management?]

Change

Process

Final delivery stage [see Introduction to processes - The PRINCE2 journey - Final delivery stage]
Initiation stage [see Introduction to processes - The PRINCE2 journey - Initiation stage]
Pre-project [see Introduction to processes - The PRINCE2 journey - Pre-project]
Subsequent delivery stages [see Introduction to processes - The PRINCE2 journey - Subsequent delivery stages]

Time management

Introduction

Resources [see Resources]
Workaholic [see Workaholic]
What is time management? [see What is time management? Problem Time solving]
What is time management? [see What is time management? General]

Key time destroyers

Key Time Destroyers [see Key Time Destroyers]
Action chasing [see Action chasing]
Being disorganised [see Being disorganised]
Cant say 'No' [see Cant say 'No']
Crisis management [see Crisis management]
Desktop management [see Desktop management]
Friends [see Friends]
Large reports [see Large reports]
Low energy levels [see Low energy levels]
Meetings 1 [see Meetings 1]
Meetings 2 [see Meetings 2]
Multiple tasks [see Multiple tasks]
Others errors [see Others errors]
Other's jobs [see Other's jobs]
Paperwork [see Paperwork]
Perfection [see Perfection]
Poor communication [see Poor communication]
Poor control and reporting [see Poor control and reporting]
Poor delegation [see Poor delegation]
Poor information [see Poor information]
Poor leadership [see Poor leadership]
Poor planning [see Poor planning]
Poor preparation [see Poor preparation]
Poor self discipline [see Poor self discipline]
Putting things off [see Putting things off]
Resource issues [see Resource issues]
Responsibility, accountability and authority [see Responsibility, accountability and authority]
Socialising [see Socialising]
Staff issues [see Staff issues]
The boss [see The boss]
The telephone 1 [see The telephone 1]
The telephone 2 [see The telephone 2]
Travel time [see Travel time]
Unfinished tasks [see Unfinished tasks]
Unwanted callers [see Unwanted callers]
Work overload [see Work overload]
Your own errors [see Your own errors]

Risk management

Introduction

What is risk? [see What is risk?]
6 questions to define the project [see 6 questions to define the project]
The key areas of concern [see The key areas of concern]
What should risk analysis provide? [see What should risk analysis provide?]
3 Ways to view risk management [see 3 Ways to view risk management]
General comments on risk assessment [see General comments on risk assessment]
Accountability [see Accountability]
General comments on planning [see General comments on planning]
What are the core process steps to assess a risk? [see What are the core process steps to assess a risk?]
Simple process outline [see Simple process outline]
What are the basic overall process steps? [see What are the basic overall process steps?]
Stakeholders [see Stakeholders]
Success measures [see Success measures]
Why carry out Risk Assessment? [see Why carry out Risk Assessment?]

The Risk Management Process

The Risk Management Process [see The Risk Management Process]
The Risk Management Process - define the project [see The RMP define the project]
The Risk Management Process - define the project management process [see The RMP define the project management process]
The Risk Management Process - identify the risks and responses [see The RMP identify the risks and responses]
The Risk Management Process - organise - prioritise risks and responses [see The RMP organise - prioritise risks and responses]
The Risk Management Process - ownership risks responsibilities and contractors [see The RMP ownership risks responsibilities and contractors]
The Risk Management Process - estimate - size the risks [see The RMP estimate - size the risks]

The Risk Management Process - Estimate

The Risk Management Process - estimate - size the risks [see The RMP estimate - size the risks]
Simple estimating of risk [see Simple estimating of risk]
Cumulative probability graph [see Cumulative probability graph]
Simple estimating of risk - more detail [see Simple estimating of risk - more detail]
Simple estimation problems [see Simple estimation problems]
Obtaining the estimates [see Obtaining the estimates]
Breakdown of variables [see Breakdown of variables]

The Risk Management Process - Evaluate

The Risk Management Process - evaluate - estimates [see The Risk Management Process - evaluate - estimates]
The Risk Management Process - evaluate - independent correlation [see The Risk Management Process - evaluate - independent correlation]
Cumulative probability graph [see Cumulative probability graph]
The Risk Management Process - evaluate - positive correlation [see The Risk Management Process - evaluate - positive correlation]
Cumulative probability graph [see Cumulative probability graph]
The Risk Management Process - evaluate - negative correlation [see The Risk Management Process - evaluate - negative correlation]
The Risk Management Process - evaluate - conditional correlation [see The Risk Management Process - evaluate - conditional correlation]
Cumulative probability graph [see Cumulative probability graph]
Cumulative probability graph 2 [see Cumulative probability graph 2]

The Risk Management Process - Plan

Ways to modify plans [see Ways to modify plans]
The Risk Management Process - plan - plans and strategies [see The Risk Management Process - plan - plans and strategies]
Types of plans [see Types of plans]
Detailed_planning - dependencies - 4 basic types [see Detailed_planning - dependencies - 4 basic types]
Detailed_planning - dependencies - 4 basic types part 2 [see Detailed_planning - dependencies - 4 basic types part 2]
The Risk Management Process - Manage - plans and strategies [see The Risk Management Process - manage - plans and strategies]

Risk Issues

Identify risk issues [see Identify risk issues]
Other issues [see Other issues]
The contractor [see The contractor]
Other aspects [see Other aspects]
Risk combination [see Risk combination]

Leadership

Introduction

Definition of leadership [see Definition of leadership]
Leadership and effectiveness [see Leadership and effectiveness]
Leadership qualities [see Leadership qualities]
Leadership functions [see Leadership functions]

Change

Progress [see Progress]
Problems of change [see Problems of change]
Freeze to freedom [see Freeze to freedom]

The three C's

The three Cs [see The three Cs]
The three Cs - action focus part 1 [see The three Cs - action focus part 1]
The three Cs - action focus part 2 [see The three Cs - action focus part 2]

Be positive

Be positive - issues and action [see Be positive - issues and action]
Be positive - be clever [see Be positive - be clever]
Be positive - when in trouble [see Be positive - when in trouble]
Be positive - project management [see Be positive - project management]
Be positive - change management [see Be positive - change management]
Be positive - communication [see Be positive - communication]
Self discipline [see Self discipline]
Be positive - change [see Be positive - change]
Be positive - attitude [see Be positive - attitude]

other sites of interest in the series