Project Management

How Risk Mitigation Plans are Incorporated into the Integrated Master Schedule

John Ayers authored the book Project Risk Management, currently available at Amazon, Kindle, and other outlets. He writes a weekly column on project risk management and future of work for CERN.

Abstract
How do you incorporate risk mitigation plans into the integrated master schedule (IMS)? This is important because it is useful to be able to see the status of the mitigation plan in the IMS and the impact on other tasks if the mitigation plan begins to slip.

Surprisingly, I found very little information on the internet or elsewhere that provided answers to this question. This article will address the answer to the question.

The following discussion presents a risk scenario to show you how to implement a risk mitigation plan into the IMS. The following scenario is based on a design risk for the compressor/turbine, a major component of a gas turbine generator system, which is designed to be an environmentally friendly replacement for a diesel generator on yachts.

Approach
A work breakdown structure (WBS) is a hierarchal decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables. A work package (WP) is the work defined at the lowest level of a WBS for which cost and duration are estimated and managed. An activity is a distinct, scheduled portion of work performed during the course of a project. Each WP has a number of activities underneath it. The IMS is based on WPs and activities.

A risk mitigation plan is based on existing activities that are pertinent to …


Please log in or sign up below to read the rest of the article.

ADVERTISEMENT

Continue reading...

Log In
OR
Sign Up
ADVERTISEMENTS

"Forgive your enemies, but never forget their names."

- John F. Kennedy

ADVERTISEMENT

Sponsors

Vendor Events

See all Vendor Events