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| Rate each WBS activity on a risk chart |
- Project Management Lecture So Far:
- Project Appraisal- Our example is an Off-shore wind-farm
- technological
- transmission losses
- environmental and social impact
- economic benefits
- financial assessment
- risks must be addressed at this and all subsequent stages
- business risks
- Project Life Cycle
- Timing of key project milestones
- Indication of time scales for various project
- Stakeholder Analysis
- Work Break Down Structure
- Network Analysis and Resources
- Risk Analysis
- Demonstrate that you understand what a financial appraisal (appraisal implies internal corporate use)
- after appraisal, a gate, then feasibility study.
- Risk analysis continued:
- Insurable Risks (Pure Risks) Come along with restriction from insurance company
- based on insurance policy
- Project Risk Lifecycle (see previous lecture)
- When computing risks, initially don't look at the impacts
- only look at the probability first
- later look at impact (so as not to influence your probability numbers)
- Identify specific risks, then move to a quantitative risk analysis
- effect of cost
- effect on time
- assume quality and environment not affected
- Next move to mitigate risks (reduce risk exposure)
- determine sponsor's appetite for risk
- identify organizational assets (templates, for example Pri-M Schlumberger risk template)
- Danger- a risk analysis template doesn't promote thinking
- Identify ownership for risk, responsibility for each sub-task
- Risk Identification techniques
- interviewing
- brainstorming
- assumptions analysis
- checklist: corporate risk register
- Delphi technique- consensus by experts
- Root cause identification (Ishikawa-diagram)
- SWOT analysis
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