pmp - risk management plan & template
TRANSCRIPT
Risk Management Plan
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Project Management Templates
RISK MANAGEMENT PLAN 2013
Risk Management Plan
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Index Table of Contents
1 Purpose .............................................................................................................. 5
2 Scope ................................................................................................................... 5
3 Audience ............................................................................................................ 5
4 References......................................................................................................... 5
5 Glossary .............................................................................................................. 6
5.1 Acronyms ............................................................................................................. 6
5.2 Definitions ............................................................................................................ 7
Stakeholder Analysis ............................................................................................... 7
5.3 Project Team ....................................................................................................... 7
5.4 Sponsor ................................................................................................................ 8
5.5 Steering Committee ........................................................................................... 8
5.6 Other Stakeholder(s) Group 1 ......................................................................... 9
5.7 Other Stakeholder (s) Group 2 ...................................................................... 10
6 Communication Requirements & Responsibilities ........................... 10
7 Communication Process and Technology ............................................ 15
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8 Communication Record .............................................................................. 17
9 Escalation Process ........................................................................................ 18
9.1 Issue Categories ............................................................................................... 18
9.2 Escalation Process for Stakeholder Group 1 ............................................... 19
9.3 Escalation Process for Stakeholder Group 2 ............................................... 19
10 Purpose ............................................................................................................ 22
11 Scope ................................................................................................................. 22
12 Audience .......................................................................................................... 22
13 References....................................................................................................... 23
14 Glossary ............................................................................................................ 23
14.1 Acronyms ........................................................................................................ 23
14.2 Definitions....................................................................................................... 24
15 Risk Identification ........................................................................................ 25
16 Risk List ............................................................................................................ 25
17 Qualitative Risk Analysis ........................................................................... 26
18 Quantitative Risk Analysis ........................................................................ 28
19 Risk Response Planning ............................................................................. 30
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20 Risk Monitoring & Control ......................................................................... 32
21 Organization & Responsibilities .............................................................. 33
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1 Purpose
2 Scope
3 Audience
4 References
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5 Glossary
5.1 Acronyms
Acronym Description
PMP Project Management Plan
PMO Project Management Office
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5.2 Definitions
Term Definition
Stakeholder Project Stakeholders are individuals and organizations that are actively involved in the project, or whose interests maybe positively or negatively affected as a project execution or project completion.
Stakeholder Analysis
5.3 Project Team
S.No.
Name Department Role Email
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5.4 Sponsor
S.No. Name Department Role Email
5.5 Steering Committee
S.No. Name Department Role Email
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5.6 Other Stakeholder(s) Group 1
[Capture information regarding other stakeholder(s), for example a group of stakeholders at customer end.]
S.No.
Name Department Role Email
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5.7 Other Stakeholder (s) Group 2
[Capture information regarding other stakeholder(s), for example a group of stakeholders at customer end.]
S.No.
Name Department Role Email
6 Communication Requirements & Responsibilities This section analyzes and captures the communication requirements of each of the Stakeholder’s group and also captures their responsibilities towards the other group.
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S.No.
Stakeholder Group
Communication Requirements Communication Responsibilities
1 Program Management/ Project Office
Communicate project objectives.
Objective expectation from all other Stakeholder group about the project aim.
Conflicting requirement
Communicate policies and standards, escalation process
Communicate success factors, training benefits, deliverables quality requirements
Getting up to date and accurate information from the Project team about the status of the ongoing tasks.
Updating all other stakeholder group with accurate information about the project progress.
Remove conflict regarding any requirements
Providing all relevant project information in a user friendly and timely manner.
Any Cost or schedule overrun
Project stakeholder satisfaction.
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2 Project Team
Timely clarification of project related requirements
Task assigned to individual team members
Any dependencies of their tasks.
Resolution of Issues within the Project Team
Resolution of Issues with other Project Team
Updating Project Office with ongoing tasks progress
Communicate any training requirements to be addressed by PMO Office
Seek Clarification on conflicting roles and responsibilities
Any issue impacting their task performance
Raise any conflict to PMO office with any team members
Timely update of Issue(s) assigned to a team member.
3
Steering Committee
Summarized Project Progress Information.
Summarized Issues
Timely resolution of escalated Issues
Updating Organization level
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Information.
Deviation between Planned and Actual Schedule (s).
Deviation from allocated budget.
Stakeholder with the Project Progress
4 Sponsor
Deviation from allocated budget.
Deviation from Scope of Work.
Project Progress Information
Issues Information
Risks
Performance reporting of project team members
Map rewards against performance.
Timely resolution of escalated Issues.
Analyze Project Success
Contribute to Lesson Learnt
Project Sign off.
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Nonconformance of deliverables to project objectives.
5 Other Stakeholder Group 1
6 Other Stakeholder Group 2
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7 Communication Process and Technology This section captures the communication process used in the Project and technologies used to have effective communication.
Stakeholder Group
Communication Requirements
Steps to get Desired Information
Communication Technology
Business User Up to date information about Project Progress
PMO Tool
Regular communication with e-Business team
Send / Receive Email
Microsoft Exchange
Formal meeting with members working on the project for clarification
Face to Face Meeting
Meeting Minutes Template
Program Management/ Project Office
Information about project/Task Progress
PMO Tool
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Regular communication with the Project Team
Send / Receive Email
Microsoft Exchange
Formal meeting with members working on the project
Face to Face Meeting
Meeting Minutes Template
Issues capturing Face to Face Meeting
Send/ Receive E-Mail
Microsoft Exchange
Issue Log Template
Escalation Channel Face to Face Meeting including, Sponsor, General Manager, and Steering Committee
Send/ Receive E-Mail to/from above stakeholders
Microsoft Exchange
Issue Log Template
Summarized Project Team Communication (Trouble Tickets, Issues, Resolution)
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8 Communication Record The tabular format describes the Communication Record followed in the project.
Communication Purpose Responsibility Audience/ Participants/ Stakeholders
Timing/ Frequency
Type of Communication
Communication Record
WSR Report Project status review reporting
Weekly Meeting Meeting Minutes
Steering Committee Meeting
Project Review
Monthly or Need base
Meeting Meeting Minutes
Iteration Success Report
Iteration Review
End of every Iteration
Meeting
Iteration Summary Report
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9 Escalation Process This section covers the escalation process followed in the Project for speedy resolution of the issues identified in the Project. The escalation process is identified in terms of the Key resources of the Project and the next authority in line to address the issues. There shall be different escalation process for different stakeholder group identified above in this plan.
9.1 Issue Categories
Escalation process depends upon the Issue categories. There shall be different escalation process and authority for different types of issues. This sections list the three different types of Issue categories identified for the Project.
Technical
Commercial
Project Management
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9.2 Escalation Process for Stakeholder Group 1
S.No.
From: Role & Name
To: Escalation Role & Name
Issue Category When to Escalate
9.3 Escalation Process for Stakeholder Group 2
S.No.
From: Role & Name
To: Escalation Role & Name
Issue Category When to Escalate
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TEMPLATE 7: Risk Management Plan
Project Name: << >>
Version: Release Date:
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Document Information
Author
Reviewer
Approver
Revision History
Date Version Section Changed
Change Description Author
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10 Purpose The purpose of this Risk Management Plan is to identify the risks in the project, analyze the impact of these risks and propose steps to manage them. The objectives of Project Risk Management are to increase the probability and impact of positive events, and decrease the probability of events adverse to the project.
11 Scope This document primarily concerns itself with Risks & Mitigation Plan relating to the XXX Project. Risk Management includes processes concerned with conducting risk management planning, identification, analysis, responses, and monitoring and control on a project. The scope of the document is limited to:
o Risk Identification o Risk List o Qualitative Risk Analysis o Quantitative Risk Analysis o Risk Response Planning, and o Risk Monitoring & Control
12 Audience The intended audience of this document is:
o
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13 References o o
14 Glossary
14.1 Acronyms
Acronym Description
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14.2 Definitions
Term Definition
Risk Risk is an uncertain event or condition, that if occurs, has a positive or negative effect on project objective, such as cost, time, scope, or quality. A risk has a cause and, if it occurs, a consequence.
Stakeholder Project Stakeholders are individuals and organizations that are actively involved in the project, or whose interests may be positively or negatively affected as a project execution or project completion.
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15 Risk Identification Risk identification involves determining which risks might affect the project and documenting their characteristics. It is an iterative process. Risks are identified throughout the project life cycle.
Following Risk Identification process shall be followed in XXX project.
16 Risk List This section lists all identified Risks in the XXX Project. This is the list of Risks as of now and subject to change as the project progresses. Project Manager shall be responsible to continuously update the risk list.
Risk No
Risk Description
Risk Category Identified During
R 001
R 002
R 003
R 004
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R 005
R 006
R 007
R 008
R 009
R 010
17 Qualitative Risk Analysis
Qualitative Risk Analysis is the process of assessing the impact and likelihood of identified Risks. Based on this analysis, the prioritized risks shall be identified and further analyzed and managed.
Risk Probability and Impact Assessment: investigates the likelihood that each risk will occur. Risk impact assessment investigates the potential effect on a project objective such as time, cost, scope, or quality, including both negative effects for threats and positive effects for opportunities.
The analysis is done in terms of Risk probability and Risk consequences. Risk probability is the likelihood that Risk will occur. Risk consequence is the effect on project objectives if the risk event occurs. Both the parameters are described in three qualitative levels, which are Low, Medium and High.
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The Probability –Impact (PI) value is the multiplication of Probability and Impact. Its value is calculated with the following equation.
Risk Probability (P) Risk Impact (I) PI Value
High High Very High
High
Medium
High
High Low Medium
Medium High High
Medium Medium
Medium
Medium Low Low
Low High Medium
Low Medium
Low
Low Low Low
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Risk No
Risk Description
Risk Probability (P)
Risk Impact (I)
PI Value
R 001
R 002
R 003
R 004
R 005
R 007
18 Quantitative Risk Analysis The quantitative Risk Analysis process aims to analyze numerically the probability of each risk and its consequence on project objectives. The Risk Probabilities are measured on a scale of 1 to 1.0 and these values correspond to 10% probability of Risk happening to 100%. The impact of the Risk is captured also on a scale of 1 to 10.
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The PI value is multiplication of these values and all Risks who have a PI value of less than four are not considered for Risk response planning. However, these calculations shall be periodically reviewed by the PMO.
Risk No
Risk Description
Risk Probability (P)
Risk Impact (I)
PI Value
R 001
R 002
R 003
R 004
R 005
R 007
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19 Risk Response Planning
Risk response planning is the process of developing options and determining actions to enhance opportunities and reduce threats to the project objectives. It includes the identification and assignment of one or more persons (risk response owner) to take responsibility for each agreed to risk response.
One of the following four approaches shall be used to respond to the Risk.
o Avoidance: Risk Avoidance is changing the Project Plan to eliminate the Risk or to protect the Project objectives from its impact.
o Transference: Risk Transference is to shift the consequence of the Risk to a third party together with ownership of the response.
o Mitigation: Risk Mitigation is to reduce the probability or consequence of an adverse Risk event to an acceptable threshold.
o Acceptance: Risk Acceptance is to accept the risk as it is and have a contingency plan in case it occurs.
Risk Risk Description Risk Response Risk Response
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No Technique
R 001
R 002
R 003
R 004
R 005
R 007
R 008
R 009
R 010
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20 Risk Monitoring & Control Risk monitoring and control is the process of keeping track of the identified Risks, identifying new Risks, ensuring the execution of the risk response plan and evaluating their effectiveness in reducing Risks. Risk monitoring & control shall be done throughout the project lifecycle.
Recommended Corrective Actions: include Contingency plans and Workaround Plans. The latter are responses that were not initially planned, but are required to deal with emerging risks that were previously unidentified or accepted passively.
Recommended Preventive Actions: These are used to bring the project into compliance with the project management plan.
Risk No Risk Description Risk Review and Reporting Schedules
Update on Risk Status
R 001
R 002
R 003
R 004
R 005
R 007
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21 Organization & Responsibilities This section lists the organization responsibilities of the project with respect to Risks.
Person Role (s) Tasks & Responsibilities