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general
independent correlation
independent correlation - cumulative probability graph
positive correlation
positive correlation - cumulative probability graph
negative correlation
conditional correlation
conditonal correlation - cumulative probability graph
Ttriple approach - cumulative probability graph
general
complex branching
complex branching calculations
multiple branching
multiple branching calculations
multiple probability branching
multiple probability branching calculations
production example
production example - more
production example - output graph
nodes and branching networks
nodes and branching networks output graph
Other useful links:
project management project management basics.com. time management time management basics.com. leadership leadership basics.com. The Complete Project management package
Topics include
The complete
Topics include
The Complete Time management package
Topics include
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Risk Management - Cost, resource, effectiveness and modelling
Risk management is part of project management. Managing project risk will include cost, resource, management effectiveness and modelling techniques.
Cost and resourceThe cost of running a risk management process (RMP) can be high. The allocation of resource to the risk assessment process will not be uniform. Personnel removed form the project will have an intrinsic value depending on the state of the project at the time. When things are going smoothly the effective cost of the resource is lower than if there is crisis which requires 'all hands to the wheel'.Effectiveness of risk management
The integration of the risk management process educates companies and individuals and encourages a culture change in the way projects and risks are managed. In order to realise this benefit, the first occasion to use risk assessment should be chosen carefully. Choose a current project that has been well managed. As the efficiency of the RMP improves it may be possible to simplify it in some areas but this needs careful management to make sure of the project management benefits. It may be that you focus on the most critical risks, for example, those that may kill the project, risks that can not be off loaded, ones that may cause the contractor to go bankrupt if realised. The amount of work involved can vary a lot. If you took the view that all risks might not materialise then you may choose not to include any proactive activities in the project management (see 'The Complete Project management package') base plan to mitigate potential impacts; although you may still put effort into generating contingency plans. Conversely, you can draw up a proactive action plan for each of the identified risks in the base plan. There is likely to be a balance in between. You may find some leadership trainng useful (see 'The Complete Leadership package'). As you move to a more formal system the cost goes up but with expectation of higher rewards. A more detailed approach will make sure minor risks are not missed. Initially, you may benefit from the input of external consultants and eventually transfer the majority of the risk management responsibility to in-house personnel. A good RMP affords confidence for those involved that all the correct questions have been raised and the risk identification process has been as complete as possible. ModellingIf the modelling procedures are too complex they will be self defeating in that data may be inadequate and personnel may not understand the output and the whole process may become too rigid.Simplicity will be appreciated by personnel at all levels and will help to create a flexible approach which in turn will deliver empowerment and better project ownership. More detail may be appropriate in particular circumstances. Confidence may improve by showing that issues have been investigated thoroughly. Estimation may be better and help to clarify decision making options. 
The Complete RISK management package Easy to understand with many examples. Other useful links at project management basics.com: Risk management Risk management - assessment methods Risk management - general approach Risk management - risk and issues Risk management main overview Project management - responsibility Project management - responsibility - detailed planning Project management - responsibility - issues project management - SPC - statistical process control Project management - Control overview Project management - Control - documentation Project management - Control - scope Project management - project scope Project management - Control Project management - Control - assessing the situation Project management - Control - cash flow Project management - Control - change Project management - Control - contingency Project management - Control - costs Project management - Control - costs - overspending Project management - Control - documentation Project management - Control - general Project management - Control - monitoring Project management - Control - progress reporting - general Project management - Control - progress reporting - meetings Project management - Control - progress reporting - steering committees Project management - Control - progress reporting - taking action Project management - Control - progress reporting - what data? Project management - Control - project completion Project management - Control - project review Project management - Control - resolving issues and problems Project management - Control - time management Project management - PERT project management - problem solving project management - Problem solving - brain storm project management - Problem solving - brain storm - a stepwise procedure project management - Problem solving - cause and effect project management - Problem solving - cause and effect - a stepwise procedure project management - Problem solving - data collection project management - Problem solving - Pareto project management - Problem solving - plan, implement, monitor and act project management - Problem solving - presentation - charts project management - Problem solving - presentation - scatter diagrams and organisation charts project management - Problem solving - process analysis project management - Problem solving - six word system project management - Problem solving - techniques project management - Problem solving - when do you use the techniques? project management - problem solving APIMA Other useful links at time management basics.com: Time management - meetings2 Time management - poor communication Time management - responsibility Time management - travel time Time management - prioritising Time management - resources Time management - resource issues Time management - staff issues Time management - commitment Time management - prioritising |
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