Risk Management - Workshop For Class BM

RISK MANAGEMENT WORKSHOP

1.0 Familiarize yourself with terminology
2.0 Conduct the process as a group following the steps given in
this ppt (Process desc starts from Slide 43)
3.0 Must be done during class time
4.0 I would call on some students at random and assess apart
from your submission
Submission: Q 1 to 3 of handout, except Q4 instead of which
you will do a Stakeholder analysis for this project
5. Also list what you did not understand and what did you do
about it?
The theory
A BIT OF THEORY AND JARGON
RISK
SCHEDULE RISK
Critical Path
Scheduling
Milestones
COST RISK
Resources
Procurement
SCHEDULE RISK
Customer Reqmt
Trade off
Triangle
Stakeholders
PORTFOLIO RISK
Financial
RISK MANAGEMENT
RISK MANAGEMENT
Portfolio Risk
Scope Risk
Schedule Risk
Cost Risk
RISK MANAGEMENT
RISK MANAGEMENT
Risk Event
Prevention Plan
Contingency Plan
PROGRESSIVE ELABORATION
RISK MANAGEMENT
RISK
RISK
Event --- Uncertain
Affecting Project Objectives
RISK
RISK IDENTIFICATION
RISK CATEGORIES
RISK CATEGORIES
FOUR CLASSES
Accounting/
Tax Law changes
Fx and interest rate
Fluctuations
Customer demand fall off

Non Traditional Competitors
Asset Valuations
Commodity risk
Financial Risk Strategic Risk

Operational
Hazard Risk Risk
Reputation Risk
Political Risk
Terrorism/Sabotage
Weather
Business Interruption
Pricing
Regulation/
Intervention
Supply chain issues

3rd Party
supply failure
RISK IDENTIFICATION TECHNIQUES
RISK IDENTIFICATION TECHNIQUES
Check lists Registers

WBS
Project Network
Cause and Effect Diagram
Analogy
Brainstorming
Monte Carlo Simulation
No risk evaluation allowed when risk identification is on
RISK MANAGEMENT
RISK CONSEQUENCE
RISK CONSEQUENCE
RISK PRIORITY
RISK PRIORITY
RISK MITIGATION
RISK MITIGATION
Risk Event
Prevention Plan
Contingency Plan
RISK MITIGATION
RISK MITIGATION
RISK MANAGEMENT
TRIGGER AND CONTINGENCY
34
TRIGGER AND CONTINGENCY

Detectability
35
RISK MANAGEMENT
RISK TERMINOLOGY
RISK TERMINOLOGY
Project
Progressive Elaboration
Risk
Risk Identification
Risk Consequence (Impact)
Risk Priority
Risk Mitigation
Trigger and Contingency
PRACTICE
RISK MANAGEMENT
SIX FUNDAMENTAL QUESTIONS
RISK MANAGEMENT PROCESS
The Workshop Steps
RISK WORKSHOP
RISK WORKSHOP
Understand Project
And
Process
1.0 IDENTIFY RISKS
1.0 IDENTIFY RISKS
Inputs
Risk Register (Appendix 2)
Method
Crawford Slip Method
Risks, Issues and Opportunities

Technical
THEORY
Technology
Engineerin
g
Integration
Manufacturi
ng etc.
What can go
wrong?
Risk
Management
Programmatic Business
Schedule
Staffing
Communicati
on
Contract Str.
Estimates
etc.
What has gone

wrong?
Issue
Management
Laws
Dependenc
ies
Customer
Resources
etc.
What can be
improved?
Opportunities
Management
ConsequencesonCost,ScheduleandPerformance
RISK REGISTER-SAMPLE
CharacteRISKtics
SAMPLE
International
Transmission Line
Political & Geopolitical
Right of Way & Statutory

Clearances
SIR
Head loading/
undulation
Delay in free issue items
EHV Substations
Suitable Subcontractors
Localization
Choice of vendors
Visa restrictions
Logistics
Solar
Line of
Business
Performance
Guarantees
Layout/ Profile
variations
Creditworthiness of
customers
O&M related
Land plot handover

Upstream &
Downstream readiness
Qty. estimation
Remote End Works
UPD Projects
E&I Projects
Common
Clearances
Linkages
Interfacing
Qty. finalization
delays
Eqpt. Warranty
mismatch
Price Variation
Forex Exposure
Commodity
Exposure
Customer
Credentials
Customer
Approvals
Payment Delays
Statutory
Variation
Schedule/ LD
Access
Eqpt.
Damages
Local issues
Geographical spread
Scope/ CV reduction
Timely shutdown
Low tech supply chain
reliability
Surplus Material
RISK REGISTER- THIS WORKSHOP
For this project use the Risk Register

as in
Appendix 2
USE THE CRAWFORD SLIP METHOD
CRAWFORD SLIP: STEP 1

INDIVIDUALLY WRITE OUT RISKS
CRAWFORD SLIP: STEP 1

INDIVIDUALLY WRITE OUT RISKS
CRAWFORD SLIP METHOD: STEP 2

ONE MEMBER LAYS OUT ALL HIS SHEETS ON THE TABLE

ONE MEMBER LAYS OUT ALL THE SHEETS ON THE TABLE
Safety
Idea 4
Idea 2
Idea 3
Idea 5

ALL OTHER MEMBERS PLACE THEIR IDEAS IN THE GROUPS CLOSEST TO THEIRS

ALL OTHER MEMBERS PLACE THEIR IDEAS IN THE GROUPS CLOSEST TO THEIRS
Safety
Safety
Safety
Safety
Member 4
Weather
Weather
Member
Weather
4
Member
Weather
4
Member
Weather
4
Member 4
Member 7

AGREE ON THE GROUPS

AGREE ON THE GROUPS
Safety
Safety
Safety
Safety
Member 4
Weather
Weather
Member
Weather
4
Member
Weather
4
Member
Weather
4
Member 4
Member 7
Complete Appendix 3
List of all identified Risks
Choose one each of

Project Feasibility Risk and
Project Execution Risk
For the chosen risk

Write a Risk Statement using
guidelines on next slide
2.0 WRITE RISK STATEMENTS
2.0 WRITE RISK STATEMENTS
Appendix 4 (SAMPLE Bad Risk

Statement)
Refer Handout
Writing Good Risk Statements
3.0 COMPLETE UP APPENDIX 5A and 5B

(Sample in Appendix 4)
For the two chosen risks
3.0 COMPLETE UP APPENDIX 5A and 5B

(Sample in Appendix 4)
One Risk Statement at a time

First Individually and then consensus
Filling in two parts
The form is to be filled in two parts
3.0A COMPLETE UP APPENDIX 5: Part 1

(Individually)
1
2
3.0A COMPLETE UP APPENDIX 4 Part 1

(Individually)
1
2
Risk Statement
Causes
Consequences
External Environment
Current Controls/ Effectiveness
Consequence, Likelihood, Risk
Risk Change
Trigger
Contingency Plan
3.0B COMPLETE UP APPENDIX 4: Part 1

Group
3.0B COMPLETE UP APPENDIX 4: Part 1

Group
1
2
Risk Statement
Causes
Consequences
Risk Change
Trigger
Contingency Plan
3.0C COMPLETE UP APPENDIX 4: Part 2

Individually
3.0C COMPLETE UP APPENDIX 4: Part 2

Individually
1
2
Risk Statement
Causes
Consequences
Risk Change
Trigger
Contingency Plan
3.0D COMPLETE UP APPENDIX 4: Part 2

Group
1
2
Risk Statement
Causes
Consequences
Risk Change
Trigger
Contingency Plan
1.0 Submit to CR at end of class

Submission (as in HAndout):
Q1 Referering to Appendix 2
Q2 Prioritize ..
Q3 Fill up Risk Register Form ..
Q4 Stakeholder analysis for this project
Q5. Also list what you did not understand and what did you do
about it?

Risk Management - Workshop For Class BM

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RISK MANAGEMENT WORKSHOP