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Topics: Business Analysis, Business Case, PMO, Risk Management
MP4PM: business case review - Risk Assessment
Hi,

for the background to this discussion thread please refer to this posting here:
https://www.projectmanagement.com/discussi...ss-case-review-

===================================
Risk Assessment
-- Risk #1

--- Description

--- Probability

--- Impact

--- Prevention

--- response strategies

---- negative risk/threat
----- avoid
----- transfer
----- mitigate
----- accept

---- positive risk
----- exploit
----- enhance
----- share
----- accept

--- Contingency Plan


=====================================

Any changes, additions or feedback here?
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Hi Markus,

Usually in the business case, the risks mentioned are high level risk without the full analysis as mentioned above.

This complete analysis is done during later stages because more information will be available.

Do you think it is best to do a full analysis and put all findings in the business case ? I've never done that detailed analysis under risk when I do the business case / project charter.

What do you think ?
...
1 reply by Markus Kopko, PMP
Dec 14, 2016 8:15 AM
Markus Kopko, PMP
...
Hi Rami,

thanks for this contribution.
I am with you that Risks could only be assessed on a high level at this stage.
This branch could be either used to just collect risks while reviewing the business case/documents and/or also for already handling those risks if appropriate. That means sometimes we do identify a risk and immediately we have an idea how to manage this risk in a proper way. And this could be documented here maybe.

But i see your point and you may be right that such a structure may implied to do a deeper risk analysis/assessment at this time what could be difficult on that early stage.

So, maybe we should add here just the option to collect the identified risks so far.
Let's see what others have to say about.

Regards,

Markus
Hi Markus,

I agree with Rami here, the business case as I know it typically is a more high level view used for making decisions (go/no go, project risk portfolio, including additional requirements/deliverables in the project scope as high level risk management). What you proposed here seems more like a risk management plan of later stages.
What was your rationale for using such a elaborate analysis this early?

Best,

Thilo
...
1 reply by Markus Kopko, PMP
Dec 14, 2016 8:23 AM
Markus Kopko, PMP
...
Hi Thilo,

thanks for your comment. I see your point (like Rami's); please refer to my answer i have given to Rami's posting.

The intention was NOT to kickoff a complete risk management process at this point BUT to initiate collecting risks and to assess them where possible.

If you will see when the map is online, the risk sassessment branch within this map will have several levels.
The first level is just naming the risk or give them a title.
Of course it is possible to stop this part right here and go on with it at a later stage.
The great thing with the mind map and especially with the so called "map parts" is, that you could easily transfer them to other maps (to risk management in this case for instance).
And this feature supports the developing character of the project management processes in a great way.

But i am open to change this to a plain risk list at this stage when the majority of you likes that more.

Regards,

Markus
Hi Markus

the link provided doesn't work
hope this one does just found it browsing in the PM central
https://www.projectmanagement.com/discussi...ss-case-review-
...
1 reply by Markus Kopko, PMP
Dec 14, 2016 5:12 AM
Markus Kopko, PMP
...
Hi Vincent,

thanks for the info, do not really know what happened, have fixed it know.

Thanks again!

Regards,

Markus
Level of detail is elaborated for an early stage.

Risk #1
Description
Probability (high level)
Impact (high level)
Prevention
Description
Required or not

That would define what action (go/no go) to take when more information is available.

I have not see the thread you refer to, so I might not fully understand
...
1 reply by Markus Kopko, PMP
Dec 14, 2016 8:26 AM
Markus Kopko, PMP
...
Hi Vincent,

thanks for this contribution.

This seems to be a good suggestion for a compromise, i guess.

Well, description is redundant in your list and i am not really sure what you mean by "required or not" (how could a risk be required?!).

What do the others say?

Regards,

Markus
Dec 13, 2016 9:52 PM
Replying to Vincent Guerard
...
Hi Markus

the link provided doesn't work
hope this one does just found it browsing in the PM central
https://www.projectmanagement.com/discussi...ss-case-review-
Hi Vincent,

thanks for the info, do not really know what happened, have fixed it know.

Thanks again!

Regards,

Markus
Dec 13, 2016 11:27 AM
Replying to Rami Kaibni
...
Hi Markus,

Usually in the business case, the risks mentioned are high level risk without the full analysis as mentioned above.

This complete analysis is done during later stages because more information will be available.

Do you think it is best to do a full analysis and put all findings in the business case ? I've never done that detailed analysis under risk when I do the business case / project charter.

What do you think ?
Hi Rami,

thanks for this contribution.
I am with you that Risks could only be assessed on a high level at this stage.
This branch could be either used to just collect risks while reviewing the business case/documents and/or also for already handling those risks if appropriate. That means sometimes we do identify a risk and immediately we have an idea how to manage this risk in a proper way. And this could be documented here maybe.

But i see your point and you may be right that such a structure may implied to do a deeper risk analysis/assessment at this time what could be difficult on that early stage.

So, maybe we should add here just the option to collect the identified risks so far.
Let's see what others have to say about.

Regards,

Markus
...
1 reply by Rami Kaibni
Dec 14, 2016 11:00 AM
Rami Kaibni
...
Hi Markus,

I would include this level of details under Risk Analysis but not the business case as again it is very high level and if too much information is mentioned there, it loses its essence as a business case.

Those are my 2 cents.

Cheers,
RK
Dec 13, 2016 2:36 PM
Replying to Thilo Wack
...
Hi Markus,

I agree with Rami here, the business case as I know it typically is a more high level view used for making decisions (go/no go, project risk portfolio, including additional requirements/deliverables in the project scope as high level risk management). What you proposed here seems more like a risk management plan of later stages.
What was your rationale for using such a elaborate analysis this early?

Best,

Thilo
Hi Thilo,

thanks for your comment. I see your point (like Rami's); please refer to my answer i have given to Rami's posting.

The intention was NOT to kickoff a complete risk management process at this point BUT to initiate collecting risks and to assess them where possible.

If you will see when the map is online, the risk sassessment branch within this map will have several levels.
The first level is just naming the risk or give them a title.
Of course it is possible to stop this part right here and go on with it at a later stage.
The great thing with the mind map and especially with the so called "map parts" is, that you could easily transfer them to other maps (to risk management in this case for instance).
And this feature supports the developing character of the project management processes in a great way.

But i am open to change this to a plain risk list at this stage when the majority of you likes that more.

Regards,

Markus
...
1 reply by Thilo Wack
Dec 14, 2016 12:58 PM
Thilo Wack
...
Hi Markus,

got your point and I like it. Using the map parts is actually a really neat idea. You just show the more detailed levels, which are hidden as a default setting, and fill them as it makes sense at the time. Probably takes some discipline, though if this is a team effort. Lots of opportunities to lose focus...
Dec 13, 2016 10:07 PM
Replying to Vincent Guerard
...
Level of detail is elaborated for an early stage.

Risk #1
Description
Probability (high level)
Impact (high level)
Prevention
Description
Required or not

That would define what action (go/no go) to take when more information is available.

I have not see the thread you refer to, so I might not fully understand
Hi Vincent,

thanks for this contribution.

This seems to be a good suggestion for a compromise, i guess.

Well, description is redundant in your list and i am not really sure what you mean by "required or not" (how could a risk be required?!).

What do the others say?

Regards,

Markus
I agree with Rami and Thilo. The risks listed in the business case are meant to support the decision: do the benefits outweight the costs and the risks?

The decision makers have a specific risk appetite and threshold that need to be met.
...
1 reply by Markus Kopko, PMP
Dec 15, 2016 5:53 AM
Markus Kopko, PMP
...
Hi Stephane,

thanks for your input here; i am tending to a shorter list of attributes here meanwhile. What do you think about the suggestion by Vincent?

Regards,

Markus
Dec 14, 2016 8:15 AM
Replying to Markus Kopko, PMP
...
Hi Rami,

thanks for this contribution.
I am with you that Risks could only be assessed on a high level at this stage.
This branch could be either used to just collect risks while reviewing the business case/documents and/or also for already handling those risks if appropriate. That means sometimes we do identify a risk and immediately we have an idea how to manage this risk in a proper way. And this could be documented here maybe.

But i see your point and you may be right that such a structure may implied to do a deeper risk analysis/assessment at this time what could be difficult on that early stage.

So, maybe we should add here just the option to collect the identified risks so far.
Let's see what others have to say about.

Regards,

Markus
Hi Markus,

I would include this level of details under Risk Analysis but not the business case as again it is very high level and if too much information is mentioned there, it loses its essence as a business case.

Those are my 2 cents.

Cheers,
RK
...
1 reply by Markus Kopko, PMP
Dec 15, 2016 5:54 AM
Markus Kopko, PMP
...
Hi Rami,

thanks again and your 2 cents are very important to me!

What do you think about the shortage of the list by Vincent? Any additions/comments on that one?

Regards,

Markus
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