Chapter 10: (Free php web host) Working the Project Plan 223 To
Chapter 10: Working the Project Plan 223 To gather information for your risk management plan, you may use some of the following techniques: Brainstorming: Be sure to document all ideas regarding risk identification. The idea that you omit because it sounds lame could end up being the best idea of all. Another reason to accept all ideas is so that no one feels that their idea is too dumb to be accepted. You never want someone with an idea to avoid raising his or her hand because this could potentially keep you from discovering some valuable information. SWOT analysis: This analysis documents the strengths, weaknesses, opportunities, and threats to your project. You ll be surprised at how much easier it is to identify risks after you ve thoroughly explored each of these areas. Delphi: This strategy is sort of like anonymous brainstorming. You and others provide your input on risk identification but no one knows who submitted particular ideas. One method of accomplishing this is to have people send an e-mail to a particular person and have that person consolidate the items into one document (without assigning names to each idea). Another method is to have everyone place his or her documented ideas into a receptacle (a suggestion box) and have someone take all of the documentation and consolidate it. One advantage of this technique is that those people who are shy or uneasy about providing input in meetings can speak freely without being concerned with how they look to others. You receive input from those that you might not otherwise hear from. Root cause analysis: You discuss risks and the likely causes of each risk. If there are many risks associated with a particular cause, root cause analysis provides you with the information you need in order to prioritize your risks. When you see that several risks are associated with a particular cause, you can make sure that you put more effort into minimizing those risks. Interviewing: Chances are, you already have access to several experts regarding risk identification. These are the people who have already created risk management plans for your firm. Don t be shy. Talk to them. They probably won t bite. Don t reinvent the wheel: You may already have contact with people who have already done all of this work before, so take advantage of their expertise. As you gather the information regarding types of potential risks, the probability of each risk occurring, and the potential impact of each risk, you can start to develop a risk probability and impact matrix to show each risk and its potential impact on project objectives that deal with the Iron Triangle of cost,
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