Project Risk Management_O2D
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Project Risk Management Plan A project risk management plan based on the assumption of a new company -O2D- created by our team Planned and Presented in UCI PM class
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Project Risk Management_O2D
- 2. TIBEC TEAM ZAKI DAOGENG TINA JAIME VINICIUS Development HR Financial PM Marketing
- 3. Provide a service to order and deliver food by APP Customer order food by APP O2D APP System System accept the order Send the order requirement Send the order requirement to the delivery Delivery go to the restaurant take the food Customer download O2D APP Restaurant prepare the food Delivery the food to the customer You Order, We Delivery! WHAT is O2D
- 4. MISSION “We provide hot and fresh food from the top franchise restaurants anytime anywhere straight at your doorstep with our revolutionary delivery service through our App.”
- 5. Project Scope Statement Business Problem Don’t provide the delivery services Restaurants do not offer home delivery Opportunity The food services industry is growing exponentially Objective Lower cost to deliver food. Ordering ease Targeting corporate Strategic Initiative Connect restaurants and customer with low cost and high quality Project Scope Statement
- 6. Project Scope Statement Prioritized Project Objectives Objectives 1 2 3 4 Benefits $12,000/month Budget $ 40,000.00
- 7. Project Scope Statement Project Justification A majority of regular full-fledged restaurants do not offer home delivery The food services industry is growing exponentially year over year in this market
- 8. Project Scope Statement Key Functional Performance & Acceptance Criteria Ordering ease Doorstep delivery with lower fees Consumer can track delivery status through our website anytime
- 9. Project Scope Statement Deliverable Developing App Marketing Contract Work place
- 10. Project Scope Statement Key Resources HR Office APP
- 11. Project Scope Statement Convenient solutions Meal at home Low fuel cost and cheap labor Critical Assumptions
- 12. Project Scope Statement Constraints / Comments Government Policies People are looking for more convenient solutions for their food
- 13. WHAT IS RISK ? The objectives of project risk management are to increase the likelihood and impact of positive events and decrease the likelihood and impact of negative events.
- 14. Methodology Roles and Responsibilities Timing Risk Categories Definitions Probability and Impact Matrix Stakeholders’ Tolerances Reporting Formats & Tracking Budget Risk Management Plan
- 15. Risk Management Plan Methodology • Brainstorming • Assumption analysis • Checklist • SWOT analysis
- 16. Risk Management Plan Roles and Responsibilities Risk RAM for Team
- 17. Risk Management Plan Timing Risk Management when the project start Monthly Meeting with all the departments Development Weekly check the schedule on building APP Marketing Monthly do the APP Marketing Research Modify the marketing strategy Financial Review all the contract documents Human Resource Monthly tracking the effectively of the staffs
- 18. Work Breakdown Structure (WBS)
- 19. Risk Management Plan Risk Categories
- 20. Risk Breakdown Structure (RBS)
- 21. Risk Management Plan Risk Definitions
- 22. Risk Management Plan Probability and Impact Matrix
- 23. Risk Management Plan Risk Qualification & Response
- 24. Risk Management Plan Stakeholders’ Risk Tolerances Project Objective Risk Tolerance Level (1 low — 3 Medium — 5 high) Cost 1 2 3 4 5 Time 1 2 3 4 5 Quality 1 2 3 4 5 Scope 1 2 3 4 5 Low Tolerance for Cost, Quality Medium Tolerance for Time, Scope
- 25. Risk Management Plan Reporting Formats Risk Register
- 26. Risk Management Plan • Weekly meeting discuss the process about the various risk avoidance and controlling • Regular brainstorming about risk occurrence • Analyzing the current status of risk response • Build the Mitigation of risk and check the milestones Tracking
- 27. TOP 5 RISKS
- 28. TOP 5 RISKS 1.2.5 Delivery Delay 1.3.2 Outsource Monitoring 1.2.4 Solve customer complaints 1.3.4 Compete with similar service 1.3.11 Hire new staff
- 29. TOP 5 RISKS LEGEND 0 - 20% Very Low 21 - 40% Low 41 - 60% Medium 61-80% High 81-99% Very High Legend Impact/Probability 0 - 5% Very Low 6 - 16% Medium 17-99% Very High Legend Severity As a reminder: Severity=Impact*Probability
- 30. TOP 5 RISKS RISK 1 • Risk – Delivery delay • Cause / Effect – Traffic Problem – Making the customers feel angry • Strategy – Avoid • Response – Use GPS to take a better route Probability Severity Response Response description Deliverable Categories RESULT L/M/H (IxP) L/M/H Strategy External Delivery delay 84% 85% 72% Avoid use the gps trafic info to find a better route Impact
- 31. TOP 5 RISKS RISK 2 • Risk – Outsourcing monitoring • Cause / Effect – Lack of monitoring of outsourcing – Loss of business • Strategy – Mitigate • Response – Hire a monitoring supervisor to control the outsource companies Probability Severity Response Response description Deliverable Categories RESULT L/M/H (IxP) L/M/H Strategy Organizational Outsource Monitoring 89% 80% 71% Mitigate hire a monitoring supervisor to control the outsource companies Impact
- 32. TOP 5 RISKS RISK 3 • Risk – Solve customers complaints • Cause / Effect – Slow process of customer’s feedback – Bad reputation of the app • Strategy – Mitigate • Response – Check all the bad reviews and create action plan to solve the complaints Probability Severity Response Response description Deliverable Categories RESULT L/M/H (IxP) L/M/H Strategy External Solve customer complaints 89% 80% 71% Mitigate check all the bad reviews and creat an action plan to solve the complaints Impact
- 33. TOP 5 RISKS RISK 4 • Risk – Compete with similar service • Cause / Effect – Lack of research of competitors – Lack of loyal customers • Strategy – Mitigate • Response – Keep a regular check and take actions on the price and quality of competitor Probability Severity Response Response description Deliverable Categories RESULT L/M/H (IxP) L/M/H Strategy Organizational Compete with similar service 54% 80% 44% Mitigate keep a regular check and take actions on the price and quality of competitor Impact
- 34. TOP 5 RISKS RISK 5 • Risk – Hire new staff • Cause / Effect – Assign work to new staff – Cost more on training • Strategy – Mitigate • Response – Pay good salaries and better benefits to retain staff Probability Severity Response Response description Deliverable Categories L/M/H (IxP) L/M/H Strategy Organizational Hire new staff 60% 42% Mitigate pay good salary and better benefits to retain staff
- 35. Probability-Impact Matrix Very High 0 0 0 0 1 High 0 0 1 0 2 Medium 0 1 3 2 0 Low 0 3 2 1 0 very Low 0 8 13 13 0 Very Low Low Medium High Very High High Medium Low Probability - Impact Matrix Probability Impact
- 37. Range of Project Risk Cost Estimates RBS Element Low Most Likely High Technical 35% $ 7,000 $ 10,500 $ 14,000 External 30% $ 6,000 $ 9,000 $ 12,000 Organizational 20% $ 4,000 $ 6,000 $ 8,000 Project Management 15% $ 3,000 $ 4,500 $ 6,000 Total Project $ 20,000 $ 30,000 $ 40,000
- 38. Project BENEFIT • Control the risk under its lowest level • Reduce threats and increase opportunities • Identify the categories of the risk and the priority • Avoid unwanted costs • Improve organizational and project communication
- 39. Expected Monetary Value(EMV) Risk Response Alternatives
- 40. Recommendations Lower Cost Save Human Resource Cost Outsource Delivery service Mitigate the problem from the system Risk avoidance
- 41. THANK YOU
Notas do Editor
- Project description and business justification
- Project objectives, prioritized with rationale
- Scope description, project driver and business justification
- Scope description, project driver and business justification
- Scope description, project driver and business justification
- Scope description, project driver and business justification
- Scope description, project driver and business justification
- Scope description, project driver and business justification
- Risk Management Plan –itemized bullets addressing all global elements
- defines when risk management activities will occur, event and recurring.
- Project Selection Criteria / Scope Statement Exercise Process 1. Should be work-related 2. You know it first hand 3. “Risk rich” area 4. Not yet in Progress 5. Not classified / confidential 6. Right size scope – create WBS 7. Prioritize Project objective (T, C, S, Q)
- – Risk Breakdown Structure for identifying and classifying sources of risk Determine the elements of the Project Risk Breakdown Structure based upon PMBOK® Guide and lecture directions. Populate and insert the RBS Chart here; or provide table or text description.
- Risk Identification Exercise Process 1. Focus on a reasonable portion of WBS – detail that portion to level 3 or 4 2. Determine risk source categories (taxonomy) 3. Brainstorm 50 risk events – be as specific as possible 4. Use checklist to verify breadth of coverage 5. Complete consequences for each risk event (Copy/ insert rows for additional consequences flowing from same risk event) 6. Complete the description of risk statements to include source categories, timeframes, impact types and other attributes as useful 7. Do not score likelihood or impact at this time
- Discuss and define the Risk Impact & Probability Scales Definitions, based upon PMBOK® Guide and lecture directions, such that a selected threshold score will consistently refer to the targeted level of risk tolerance, including the bias for the project’s driving objective; e.g., Time, Quality, etc. Insert the Risk Impact & Probability Scales Definitions table here.
- used in qualitative analysis to prioritize risk events Determine which scores in the matrix correspond with the targeted risk tolerance level and code or label them accordingly. Insert the Probability – Impact Matrix table here, or provide textual description of the scoring categories.
- used in qualitative analysis to prioritize risk events Determine which scores in the matrix correspond with the targeted risk tolerance level and code or label them accordingly. Insert the Probability – Impact Matrix table here, or provide textual description of the scoring categories.
- Definition of key expectations – assessment is based on a specific project. State the score that reflects the selected risk tolerance level. Support with rationale. In project management, risk tolerance is the measure of the degree of uncertainty that a stakeholder accepts in respect of the project risk assessment.
- – format and content of the risk register and other reports and results from risk monitoring. Reporting Formats (including the risk register): May use existing formats
- – format and content of the risk register and other reports and results from risk monitoring.
- Description and analysis of top 5 risks, responses, post-response risk score, etc.
- Description and analysis of top 5 risks, responses, post-response risk score, etc.
- $ 20,000.00
- Summarize costs & benefits realized from risk management 4. Estimate costs for responses, accepted risks and unknown-unknowns 5. Summarize cost and benefits to determine value of each risk response
- Analyze 1 risk, using Expected Monetary Value(EMV) to comparative economic benefits to select one response from various response alternatives.
- Make recommendations and sell value of risk management how this risk management help the entire process of the project how do we convince why we do this stakeholder tolerance probability & impact matrix constant feedback week review