MP4PM: business case review - Risk Assessment

Hi Markus,

thanks for uploading the map; it's much easier to review than the lists (which is exactly why we use maps, isn't it?). While I agree with Rami and Stéphane that a business case only includes a high level view on risks used to make decisions, I think I know what you try to do by using the unique properties of software based mind maps. I need to think a bit more about this and how I would structure such an approach. I will get back to you latest this weekend.

Regards,

Thilo

Hi Thilo,

You have a point but as I said to Markus, I would only include:

Risk #1
Description
Probability (high level)
Impact (high level)

Hi Rami,

thanks for that; your list is essentially the list of Vincent just without prevention if i am right?!
More or less i have already decided to shortage the list in the BC map to this one, but before do it finally i will wait for Thilo's consideration.

In fact it is no problem to postpone the deeper risk assessment to a later stage. Latest in the "risk management" area we will dive deep in there, right?

Regards,

Markus

@ Rami, @ Stéphane:

Agree with you that the business case is not the place for a detailed risk analysis but should only contain high level information about risks as the BC section about risk is meant to provide information used for making decisions. Now mentally putting myself in the place of the guy who's making such decisions I'd like to know about the top 5 risks (based on risk impact and probability) and the respective risk response strategy (high level, w/o action plan) as these would be part of the assumptions the business case and the cost/benefit analysis is based on.
What's your view on this?

Best,

Thilo

If you're going to list only the top five risks - which is a good idea for the business case - you don't need to show the probability and impact. By definition, these top five risks should be the ones that are the most severe to your organization.

I agree with you, Thilo, that we should give an indication of how, at a high level, we plan on addressing these top five risks: mitigation, transfer, ...

Hi Thilo,

yes, that is exactly the reason why we use and why i am a fan of using mind maps and mind mapping. ;)
As a LL i will put the beta version of the map online first next time, before creating the discussion threads.
Can't await your further input on this.

Regards,

Markus

Stéphane,
agree you do not have to show probability and impact of the Top 5 risks in the business case. But you need to have this information in order to actually prioritize, right? Or would you use a different approach to rank the risks this early in the project?

Hi Markus,

I've been thinking long and hard about it and unfortunately I did not come to a satisfactory solution. You could use map functions like color coding or adding symbols etc. to show what parts of the elaborate risk management branch actually belong to the business case and explain this in the "How to" section. But honestly, I fear that this will not work for a lot of people. So right now I would suggest we be agile, shorten this section of the map as already proposed and deliver value with that iteration. Maybe with some further discussion the next iteration will reveal itself to us.

Regards,

Thilo