SAB4#124_Identify_Risks

Annotations:

• In  this process, risks for the project are identified. This effort should involve all stakeholders and might even include literature reviews, research, and talking to non-stakeholders.

1. PROCESS GROUP: Planning
2. KNOWLEDGE AREA: Risk Management
3. 1. Risk Management Plan
4. 2. Cost Management Plan
5. 3. Schedule Mgmt Plan
6. 4. Quality Management Plan
7. 5. HR Management Plan
8. 6. Scope Baseline
9. 7. Activity Cost Estimates
10. 8. Activity Duration Estimates
11. 9. Stakeholder Register
12. 10.Project Documents
13. 11. Procurement dcouments
14. 12. EEFs
15. 13. OPAs
16. 1. Documentation Review

    Annotations:

    • What is and not is in the documentation (charters, contracts, lessons learned...). This used to be a trick for risk and has proven to be so beneficial that it  has now become standard practices.
17. 2. Information gathering technique
    1. Brainstorming

       Annotations:

       • Brainstorming is usually done in a meeting where one idea helps generate another.
    2. Delphi Technique

       Annotations:

       • This technique is used to achieve consensus among experts who participate anonymously.
    3. Interviewing

       Annotations:

       • Also called expert interviewing on the exam, this technique consists of the team or project manager interviewing project participants, stakeholders, or experts to identify risks on the project or a specific element of work.
    4. Root Cause Analysis

       Annotations:

       • In root cause analysis, the identified risks are reorganized by their root causes to help identify more risks.
18. 3. Checklist analysis
19. 4. Assumptions analysis

    Annotations:

    • Analyzing what assumptions have been made on the project, and whether they are valid, may lead to the identification of more risks.
20. 5. Diagramm techniques

    Annotations:

    • Some of the tools described in the Quality Management chapter can also be used to analyze the root causes of issues. These include cause and effect diagrams and flowcharts. When used as part of risk identification, they help identify additional risks for the project.
21. 6. SWOT analysis

    Annotations:

    • Strengths, Weaknesses, Opportunities, and Threats. This analysis looks at the project to identify its strengths and weaknesses and thereby identify risks (opportunities and threats).
22. 7. Expert Judgement
23. 1. Risk register

    Annotations:

    • The risk register is where most of the risk information is kept. Think of it as one document for the whole risk management process that will  be constantly updated with information as Identify Risks and the later risk management processes are completed.
    1. List of Risks
    2. List of potential response
    3. Root causes of risks
    4. Update risk categories