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01. Project risk mind map
Firefly Academy 01. Project risk mind map. The four major risks are: the project may be delayed, the project may be overrun, the quality may be difficult to meet standards, and the project may be out of control. Let’s take a look at them together.
Edited at 2023-04-22 22:22:58- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- Project Management Process Template
Project management is the process of applying specialized knowledge, skills, tools, and methods to project activities so that the project can achieve or exceed the set needs and expectations within the constraints of limited resources. This diagram provides a comprehensive overview of the 8 components of the project management process and can be used as a generic template for direct application.
01. Project risk mind map
- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- One Hundred Years of Solitude Character Relationship Chart
One Hundred Years of Solitude is the masterpiece of Gabriel Garcia Marquez. Reading this book begins with making sense of the characters' relationships, which are centered on the Buendía family and tells the story of the family's prosperity and decline, internal relationships and political struggles, self-mixing and rebirth over the course of a hundred years.
- Project Management Process Template
Project management is the process of applying specialized knowledge, skills, tools, and methods to project activities so that the project can achieve or exceed the set needs and expectations within the constraints of limited resources. This diagram provides a comprehensive overview of the 8 components of the project management process and can be used as a generic template for direct application.
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- Outline
No relevant template
Story background of this issue
risk point
Data migration is on the critical path, which is not only difficult, but also quite professional.
An expert is assigned who is working on another project, and the arrival time depends on the previous project
Current Countermeasures
What if this really happened?
I don’t have any specific countermeasures. I feel like I need to find someone else, but I don’t have a plan.
Four major risks
Project may be delayed
Coping strategy: Strengthen progress management
Project may cost overruns
Coping strategy: Strengthen cost management
Quality may not be up to standard
Countermeasures: Improve delivery quality
Project may get out of control
Coping strategy: Strengthen change management
In this issue, we will use the example of experts not being available on time to analyze and formulate countermeasures according to the risk management process.
risk management process
Risk Identification
Find out what may or may not happen that will affect the project
Risk Analysis
Analyze according to two dimensions: probability of occurrence and impact on the project
risk plan
Choose strategies of avoidance, transfer, weakening, and acceptance, and formulate countermeasures respectively.
Risk monitoring
Check it regularly. If it happens, deal with it. Once it passes, it will be fine.
The reason is very simple and the form is not complicated. The key is to solve practical problems.
Identify risks
First of all, from what aspects should we think about risks?
technology risk
There are potential problems if the project adopts complex or high-tech, or unconventional methods.
Technical risks can also be caused by excessive technical goals and changes in technical standards.
Manage risk
For example, the schedule and resource allocation are unreasonable; the plan is hasty and of poor quality.
Improper use of basic principles of project management may cause management risks
organizational risk
It is common that there is no agreement on goals within the organization
Senior management does not pay attention to the project, lacks funds, or has resource conflicts with other projects, etc.
external risks
For example, changes in laws and regulations
The situation of project-related interface parties changes, and these events are often uncontrollable.
Secondly, how to identify risks?
Expert experience
Leaders and experts often prompt possible problems
File analysis
There are still some uncertainties in the project so far
For example, external interfaces, changes in procurement and subcontractors, factors not determined by the customer, etc.
process assets
The company has also accumulated a lot of experience in risk management, such as risk assessment forms
Based on the risk assessment form, possible risks of the project can be analyzed from multiple aspects.
Risk Analysis
Three dimensions of risk analysis
First, the possibility of risk occurrence
The second is the impact on the project after it occurs, including the impact on the scope, time, cost, and quality of the project.
The third is the time distance from the current time to the period when the risk event is expected to occur.
Qualitative analysis
Determine the risk level according to the qualitative analysis table provided by the company
Specific scores for the impact and probability of risks need to be defined in advance
time distance
As time progresses, it should be continuously estimated and updated, such as after 2 weeks, after 8 weeks
If the data migration expert delays by 1 week, the project will be delayed by 1 week, affecting X% of the total construction period.
If the data migration expert delays by 2 weeks, the project will be delayed by 5 weeks (end-of-year settlement)
At present, there are only 2 weeks until the experts are available, and the expert’s project is not progressing smoothly.
It is very likely to lag by 2 weeks, then it is a major risk and a special risk response plan must be formulated.
risk response plan
in accordance with
The risk management process stipulates that different countermeasures can be adopted for different risks
Some admit it, some avoid it, and some prepare in advance.
preventive solution
avoid
Eliminate risks or risk triggers and protect targets from impact
Adopt more familiar working methods; clarify unclear requirements, etc.
Corresponding transplant expert: Do not select this expert in other projects
transfer
Transfer the results of project risks to a third party along with the right to respond
Usually some fees need to be paid to the third party
weaken
Reduce the probability or impact of risk time to an acceptable level
Simpler processes; conduct more experiments; build prototype systems, etc.
Find replacements, they may not be as high as experts, but they can promote progress
accept
Only carry out emergency reserves and monitoring, and respond accordingly when an incident occurs.
If the data migration experts cannot arrive on time, the impact on the project will be "big", and the weakening strategy will be given priority.
weakening strategy
Risk items
The data migration expert arrived at the project team 2 weeks late
The probability of occurrence is more than 80%, and the time interval is within 3 weeks.
risk consequences
Data conversion work is delayed by more than 2 weeks
Eventually, the overall progress of the project was delayed by more than 5 weeks.
Tracking method
Track the progress of data migration experts' projects on a weekly basis
If the arrival time is later than originally planned, a response plan will be initiated.
Responsible
Tracking--Project Manager
Processing--Project Manager
response actions
The data analysis team is trained in advance by phone
Confirm that the deputy of the data migration expert can go to the site to guide the work as scheduled, and the expert provides remote support
All members of the data conversion team must work overtime for approximately 2 consecutive weeks
Restrictions
Emergency actions cannot affect the progress of other parallel tasks
Emergency actions must not affect the normal operation of the expert's project
action priority
Training on working methods of data transformation team
Data collection and organization work
end condition
Data conversion program passes acceptance testing
Risk monitoring
Monitoring purpose
The first is to monitor the status of risks, such as whether the risks have occurred, still exist, or have disappeared; initiate response plans for risks that have occurred
The second is to check whether the risk response plan is effective and whether the monitoring mechanism is operating.
The third is to continuously identify new risks and formulate countermeasures, and update the status of identified risks.
Monitoring methods
Risk audit: Dedicated personnel to inspect the monitoring mechanism and conduct regular risk reviews
For example, weekly review meetings, risk review meetings, etc.
Deviation analysis: compare with the baseline plan to analyze deviations in cost and time
For example, failure to complete the project on time, exceeding budget, etc. are all potential problems.
Technical indicators: There are serious differences between the original technical indicators and the actual technical indicators.
For example, the test failed to meet the performance requirements, the number of defects greatly exceeded expectations, etc.
Experience and lessons
Risk Management
Can help project managers grasp the key points of work and sort out work omissions
Focus on major risks and shift from passive firefighting to proactive prevention
Doing risk analysis with team members can allow everyone to fully estimate the difficulties, be mentally prepared for various "accidents", and avoid being demoralized after a setback.
before and after
Develop countermeasures in advance and respond quickly to avoid "making mistakes while busy" causing greater losses
With the PM in mind, he can respond calmly when an accident occurs, which greatly improves the team's confidence.
unexpected handling
No matter how careful the plan is, there will always be problems that have not been taken into account. You must stay calm.
You can't mess up your position. Of course, this also requires tempering stronger psychological endurance.
Project risk