This video provides hints and tips for constructing your risk records in a concise and useful manner to make them easier to use during your ongoing project management.
- Risk management plans…fill up lots of waste baskets,…accompanied by frustrated project managers…screaming things like,…"This risk plan is useless."…The difference between risk plans that work…and those that do not…usually comes down to one simple element:…the way risks are written.…Let me share a story where risk records…were written inadequately.…An airport identifies a risk…that their fuel trucks may be unable to make it…to refuel airplanes in a timely manner.…
This'll cause flight delays.…As a response, the project manager…assumes the risk involves…the fuel trucks having a mechanical failure.…He decides to have more fuel trucks available…so they'll always have a truck ready…to refuel the aircraft.…Sounds like a reasonable risk mitigation strategy.…However, during the next month…the fuel truck drivers go on strike.…They could have all the fuel trucks in the world,…and none of them would show up.…
What went wrong here?…The project team only considered…one cause for the risk occurring.…So you don't end up like our unfortunate airport manager,…
Note: This course follows the latest guidance from Project Management Institute, Inc., as outlined the PMBOK® 6 Guide.
- Explore why dealing with risks needs to be part of the everyday process used to manage a project.
- Learn to outline the most common, pragmatic approaches to identifying risks specific to a project.
- Recall methods for qualifying and quantifying your risks to determine specific risks and manage their costs.
- Examine the primary considerations for a project risk plan and what components should be included in every plan.
- Assess techniques that help you identify the overall risk a project presents to your business.
- Examine several risk analysis and filtering examples that help ensure you've addressed individual risks properly on your project.