Completing the Risk Analysis
and Mitigation Matrix
The Matrix
• Open the matrix
• Review the contents
•
•
•
•
•
•
Identified risk
Impact on the project
Impact rating
Probability rating
Risk priority
Mitigation action
• Review the PowerPoint
on Risk (also contained
within this assignment)
The Heading
• Place the contents asked
for at the top of the form
• Project name (from your
Scope Statement)
• Prepared by (place your
name here)
• Date (place the date you
complete the form here)
Identified Risk
• In each cell under this
column, identify a risk to
your project (not the
business)
• It should be specific and
complete
• Review the sample also
included with this
assignment
Impact on the
Project
• In the cell next to each
risk, describe the impact
the risk would have on
your project should it
occur
• Be specific and complete
• Do not be satisfied with
short terms like
“budget” and “schedule”
Impact and
Probability Ratings
• In the cells next to the
impact statement for each
risk, place a number that
identifies the impact and
probability ratings for each
risk
• The risk priority number
column contains a formula
that will identify the priority
• Review the risk PowerPoint
for these numbers
• A summary is on the next slide
Probability
ratings:
Very low = 0.1
Low = o.3
Moderate = 0.5
High = 0.7
Very High = 0.9
Impact ratings:
Very low = 1
Low = 2
Moderate = 3
High = 4
Very High = 5
Risk Score for a Specific Risk
Probability
Risk Score = P x I
0.9
0.90
1.80
2.70
3.60
4.50
0.7
0.70
1.40
2.10
2.80
3.50
0.5
0.50
1.00
1.50
2.00
2.50
0.3
0.30
0.60
0.90
1.20
1.50
0.1
0.10
0.20
0.30
0.40
0.50
1
2
3
4
5
Impact on an Objective (e.g., cost, time, or scope)
Mitigation Action
• In the cell next to the
priority number for each
risk, identify the action
you will take at the time
of the risk should it
occur
• Be specific and complete
You’re finished!
Submit your completed matrix for a grade
Risk Score for a Specific Risk
Probability
Risk Score = P x I
0.9
0.90
1.80
2.70
3.60
4.50
0.7
0.70
1.40
2.10
2.80
3.50
0.5
0.50
1.00
1.50
2.00
2.50
0.3
0.30
0.60
0.90
1.20
1.50
0.1
0.10
0.20
0.30
0.40
0.50
1
2
3
4
5
Impact on an Objective (e.g., cost, time, or scope)
Project Management
Risks and Constraints
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Definition
• A risk is an event that may or may not happen.
If it does happen, it will have unwanted
consequences and will result in losses.
What Risk Management Does
• Identify potential problems and confront them when it is
cheaper and easier to do so, before there are problems and
before a crisis blows up.
• Focus on the project’s goals and consciously look for things that
may affect quality throughout the project lifecycle.
• Identify potential problems early in the planning cycle (the
proactive approach) and provide input into management
decisions regarding resource allocation.
• Involve personnel at all levels of the project, focus their
attention on a shared project (or product) vision, and provide a
mechanism for achieving it.
• Increase the overall chances of project success.
All Projects Have a Downside
• Look at everything that will get in your way or
become a potential roadblock.
• If it is at all possible, look at both the positive
and negative sides of the project before making
a commitment to it.
Common Project Risks-1
• Funding: Will you get enough money to fund your project’s
needs?
• Time: Things can take much longer than originally planned.
• Staffing: Do you have the right staff? Do they have the right
skill set and experience to meet your project’s objectives?
• Customer relations: If your customer can’t or won’t work
with your project team to help define the attributes of the
project solution, watch out down the road.
Common Project Risks-2
• Project size and complexity: When a project is too complex
or large, it will be hard to stay within budget and get it done on
time, and there will be too many factors to control. Any of them
can bite you.
• Overall structure: As a result of political decisions,
responsibility gets split between competing groups and
organizations
• External factors: There are factors outside of your control,
such as regulations, changing technologies, etc., that can throw
your project off.
Additional Risks
• Market acceptance: Will the customer buy the
product?
• Time to market: Can you get the product out there
before anyone else does?
• Incompatible product fit: It’s a great product, but no
one can afford it.
• Difficult to sell: It’s a high-ticket item or doesn’t offer
enough incentive to sell.
• Loss of support from the higher-ups: If a new manager
is brought on board at a higher level, your project
could lose support and funding.
Acts of God, Man, and War
(Force Majeure)
• Your project should be insured (if possible) against:
–
–
–
–
–
Hurricanes
Tornadoes and Hailstorms
Floods
Earthquakes
Terrorism
• Be aware, though, that many insurance policies have
exclusionary clauses covering some of the items above.
Three Types of Risk
• Known risks: You can identify these after reviewing the project
definition within the context of the technical and business
environments. Use your own experience and that of your
stakeholders to define such risks.
• Predictable risks: These are risks that might occur or are
anticipated based on work on other similar projects. They have
to do with the economy or staff turnover and have an
anticipated impact. You will be instinctively aware of these risks.
• Unpredictable risks: The “doo-doo happens” things beyond the
control of any project manager or project team.
Tying It All Together
• Project risks should be accounted for before the
project gets underway.
• Some projects should simply not happen.
• Be careful of inheriting problem projects.
• The impossible stays impossible, no matter how
enthusiastic and motivated the project manager
and the project team are.
There is no security on this earth. Only opportunity.
-Douglas MacArthur
RISK ANALYSIS
Process-1
• Identify Risks
– Consider (as a minimum)
•
•
•
•
Tasks
Groups of tasks
Project as a whole
Business risks
• Determine the impact of the risk (should it
happen)
• Consider the probability of the risk happening
Process-2
• Rank risks according to probability/impact score
• Determine intervention
– Avoid
– Transfer
– Mitigate
– Accept
Probability/Impact
Risk Score for a Specific Risk
Probability
0.9
0.7
0.5
0.3
0.1
0.90
0.70
0.50
0.30
0.10
1.00
Risk Score = P x I
1.80 2.70 3.60
1.40 2.10 2.80
1.00 1.50 2.00
0.60 0.90 1.20
0.20 0.30 0.40
2.00 3.00 4.00
Impact
4.50
3.50
2.50
1.50
0.50
5.00
Risk Response Template
Project Name:
Prepared by:
Date:
Identified
Risk
Statement
of Impact
Probability Risk
Impact
of
priority
rating occurring
number
A
B
AxB
0
0
0
0
0
0
0
0
0
Mitigation
action
Possibilities
• You may need to
– Have a “Plan B” – another project plan that assumes
the risk happened
– Develop a Risk Management Plan – depending on
how risky the project turns out to be
This is Not a One-Time Event
• Risk is an on-going process
– During planning and executing you must constantly
• Review identified risks
• Look for additional risks
• Be sensitive to the possibility of changing risk parameters
(impact and probability)
Risk Evaluation Grid
Project Name:
Prepared by:
Date:
Identified
Risk
Impact on Project
Impact
rating
Probability
of occurring
Risk
priority
number
A
B
AxB
Mitigation
action
0
0
0
0
0
0
0
0
0
0
Risk Evaluation Grid
0
0
0
0
0
0
0
0
Note: For additional rows highlight the entire Risk Evaluation worksheet
(click the upper left corner of the worksheet).
A
B
1
2
3
Then, on the Format menu, point to Row, and then click Unhide. This will unhide an additional 8 Rows. If more rows are needed, select
the last row, then on the Insert menu, point to Row to insert the additional row. This will insert the row before the selected row. It is
necessary to insert any additional rows before the last row to retain any format/formulas.
Project Scope Statement
PROJECT SCOPE STATEMENT
Note: Any work not explicitly included in the Project Scope Statement
is implicitly excluded from the project.
Project Name:
ConnectNow ParishSoft Accounting Install
Prepared by:
Renee Randall
Date (01/26/2017):
Version History
Version
Date
Comments
(MM/DD/YYYY)
1.0
01/26/2017
Put your organization name here
Initial Project Scope
Page 1
Project Scope Statement
1. Executive Summary
The implementation of a new system Diocese-wide is a significant change. The success of a Diocesan
implementation may hinge upon the “buy-in” and cooperation of the organizations involved. Therefore, it is important
that the organizations be closely involved and consulted to prevent the perception of an unwanted, forced change.
Focus groups, regional meetings, software demonstrations, surveys, leadership meetings, and other communications
can help promote feedback and lessen apprehension about a new system. These communications should focus on
the benefits of the new system to the Diocese, each organization, and all individuals involved.
2. Business Objectives
2.1 Product Description (Solution):
ConnectNow Accounting a ParishSOFT system offers a single,
standard, web-based platform for managing church financials in
parishes, schools, and diocesan organizations. Discover powerful
fund accounting that’s affordable, easy to use, and designed
specifically for parishes and schools.
2.2 Business Objectives:
The venture that I am proposing here, will help in allowing the
Diocese head finance office to view financial statements in a timely
manner and view activity to insure proper accounting practices are
applied. This will help both the parish/school level and the Diocese.
This System would presents an intuitive accounting module with
every single accessible alternative in an easy to use way for those
parish/school bookkeepers who don’t have proper accounting
training. Diocese will be able to assign individual users, track
changes and provide guidance as needed.
Put your organization name here
Page 2
Project Scope Statement
3. Project Description
For each area below, provide sufficient detail to define this project adequately:
3.1 Project Scope
▪
Includes (list Deliverables):
Project Kickoff and Closure meetings
Orientations (Diocese and Parish) – coordination, preparation, and
actual presentation time
Support Issues Handles Directly by the ParishSOFT Project Manager –
if there are product issues that arise during the project the standard
process would be for the diocese to report the issue to the ParishSOFT
support team and copy the ParishSOFT Project Manager so they are
aware of the issue. The support team will then determine the correct
resolution path for the issue. If the diocese would like the ParishSOFT
Project Manager to directly handle the issue, the time would billable as
the Project Manager’s time is not covered under the annual subscription
costs. (NOTE: If a support issue is not being addressed by support
within the service level agreement or there is a complaint about the
service received by support, those issues should be escalated to your
Project Manager and time spent to address those issues will not be
chargeable to the customer.)
Consulting and Process Review
Training & Questions on process or products
Project Coordination & Communication – around rollout groups, system
setup, project activity coordination with other ParishSOFT team on
necessary project work
Project Reporting – time spent preparing reports for the customer on
the project statuses, project plan creation, etc…
Travel Expenses
▪
Does Not Include:
Onsite Training at individual parish/schools. Accounting level training.
3.2 Project Completion Criteria:
This project implementation is a web based application utilizing JSP
and HTML.
3.3 External Dependencies:
There may not be any outer dependencies.
3.4 Assumptions:
3.5 Constraints:
Put your organization name here
Hardware Limitations: The minimum hardware requirement for the
system is 128 MB of Ram and a 60MB hard-disc drive. Budget
Estimation. Time Frame of the Project is very limited and extensive as
we have 66 Schools and 67 Parish’s to
convert..__________________________________________________
_________________________________________________________
____________________________________________
Page 3
Project Scope Statement
Put your organization name here
Page 4
Purchase answer to see full
attachment