Lec 7

© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
Plan Risk Responses
• Set of actions .
• Prevent or reduce the likelihood of occurrence or
the impact of a risk.
• Implement if the risk event occurs ??????
• Establishes a trigger point for implementing an
action.
• Assigns responsibility for implementation.
© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
 Managing Risks for Information Systems Development
Risks can be categorized into types
• Technological risk
• Human risk
• Project team risk
• Project risk
• Strategic and political risk

© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
 Critical Success Factors
• Identify risks and their potential impacts before the
project starts.
• Involve the project team or experts in assessing risks.
• Assign high priority to managing risks that have a high
likelihood of occurrence and a high potential impact on
the project outcome.
• Develop response plans for addressing high priority
risks.
© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
Describe what needs to be done to manage risk on a project?

•To manage risk on a project, the risks need

identified and assessed to determine the
impact and likelihood of the risk's
occurrence.

© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
 How can a risk assessment matrix help in this process?

• Project team meetings are good times to review

risks and the risk management plan.
• The risk assessment matrix helps the process by
organizing the identified risks and assessing the
risks' impact, likelihood, degree of impact, and the
action trigger for the risk.
• It also identifies who is responsible and the response
plan.
© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
 From your experience working on projects,
list and categorize three risks.

•Risk categories could include

technical, schedule, cost, human
resources, external, or
sponsor/customer.
© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
 What risks for a project have the highest priority?
Does the priority for a risk change as the project progresses?

• Risks that have the highest priority are those on the

critical path and those that have high degree of
impact and high likelihood of occurrence.
• Yes, the priority of a risk can change as the project
progresses by increasing in priority or decreasing in
priority due to project changes related to the risk.

© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.
© 2018 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as permitted in a
license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning management system for
classroom use.