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Risk

Prince 2 Risk

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Pradyut Tiwari
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31 views

Risk

Prince 2 Risk

Uploaded by

Pradyut Tiwari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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®

PRINCE2 FOUNDATION Version 5.6.1

Risk

PRINCE2® is a Registered Trade Mark of the Cabinet Office.


The Swirl logoTM is a Trade Mark of the Cabinet Office

ITpreneurs is an Accredited Training Organization with APMG


Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.
© CC Learning
PRINCE2® FOUNDATION

 Risk

PRINCE2® manual page 77


Workbook page 129

2 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Information hierarchy

3 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Introduction
● What is risk?
● An uncertain event that will affect objectives: threat or opportunity
● What is risk management?
● Identifying, assessing and controlling
● Risk management policy (corporate/programme)
● Starting point for risk management in all projects
● Defines: risk appetite, responsibilities, risk tolerance

4 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Management products
● Risk Management Strategy Manual 259
● Describes techniques and standards
● Responsibilities for risk Workbook 133

● Risk Register
● Record of all identified risks
● Captures and maintains a formal record of all
opportunities and threats Manual 260

Workbook 135

5 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Risk management procedure

6 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Identify
● Identify context
● Gather information about the project context
● To create the Risk Management Strategy
● Identify risks
● Describe as: cause (source of risk), event (area of uncertainty),
effect (impact on project objectives)

7 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Identify
● Opportunities and threats
● Opportunities may impact project objectives in a positive way
● Threats may impact project objectives in a negative way

Risks vs. Issues


Uncertain Certain
Futuristic Current
May impact objectives Has/will impact objectives
Unknown impact value Known impact value

8 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Assess
● Estimate
● Probability: likelihood of occurrence
● Impact: effects on project objectives
● Proximity: when it may occur (if no action taken)
● Evaluate
● Total impact on a project
● Determine aggregate risk profile
● Does the project have continued business justification?

9 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Plan
● Maximise opportunities, minimise threats

10 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Plan
● Residual risk remains following a response
● Remains following a chosen response to the original inherent risk
● Avoid or accept risk responses means there is no residual risk
● Secondary risk
● Result of a response being allocated to a risk
● Risk responses can raise uncertainty

11 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Implement & communicate
● Implement risk responses
● Risk owner: responsible for manage, monitor and control
● Risk actionee: assigned to carry out a response
● Risk budget is money to fund responses.

● Communication is continual
● Information passed within the project team
● Information is passed to external stakeholders.

12 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.


PRINCE2® FOUNDATION

Risk
Principles
● Continued business justification
● Learn from experience
● Defined roles and responsibilities
● Manage by stages
● Manage by exception
● Focus on products
● Tailor to suit project environment

13 Copyright © 2013, ITpreneurs Nederland B. V. All rights reserved.

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