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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 - Other issues in the project life cycle
Risk management is part of project management. We must identify risks before controlling them. How does the project life cycle phase affect this?
Separate projectDepending on the size of the overall project it may be worth considering making the risk management process a project in its own right.Project life cycleThe challenges facing the risk management process will differ depending at what point in the project life cycle it is implemented.ConceptWhen the risk management process is instigated too early in the project life cycle there are advantages and distinct disadvantages.
There may be opportunities here to examine the overall strategy and various outcomes of introducing a particular product. DesignUncertainty of the later stages of the project applies pressure on the risk management process. In particular, project management costs will be hard to pin down.PlanIf the idea of a risk assessment is new to a company then you will need to introduce it in a manner that doesn't alienate personnel.The best place to start is probably utilising a project in the plan stage to minimise problems as discussed above. You don't want to step into a project that has been poorly managed to date or where there is too little time (see 'The Complete Time management package') to do the risk management process justice. AllocateTogether with 'design' and 'plan' phase these generally are called the 'planning' phase. There are commitments of resources that are required for the next action plans towards the following horizon planning. Other aspects e.g. contracts will be developed.If approvals are still required at this stage in terms of GO / NO GO / MAYBE decision these may not just be internal but may also rely upon external sanctions. For example, costs my be a major concern to banks. The role of the risk management process in this phase will be to challenge previous assumptions from earlier phases. This process is also likely to include the efficiency of the project management process (see 'The Complete Project management package') and the quality of the personnel involved. You may find some leadership trainng useful (see 'The Complete Leadership package'). The danger of risk assessment at this stage is that it is seen as attacking all that has gone before and will require good management. It can highlight missing insights that should have been gained earlier. A well run project should really see the need for some sort of risk management at an earlier stage, preferably the 'plan' stage. It is common for the detailed plans (schedules) to be generated from the bottom up. This will be a complete waste of time unless strategic issues have been reviewed thoroughly via a risk assessment. It is also possible that a formal risk management process at this stage may review an earlier risk assessment process. ExecuteThis is a dangerous place to introduce the risk management process. It is all a little too late. If the project is in trouble at this point then a change of key personnel may be the result.At this point schedules that are too detailed and rigid can be a bad thing as flexibility is lost. It is better to encourage empowerment amongst the participants. Time (see 'The Complete Time management package') is often better spent earlier using the risk management process to examine strategic issues. DeliverDoes the product do what it is supposed to in the field?This is usually much too late to make any risk assessment worthwhile. However, a particular circumstance may have lead to the product not performing as expected. As a contractor you may well be aggrieved and, for example, as a contractor may wish to justify certain fees. The use of a risk assessment in these circumstances to justify the contractor's position may prove useful. ReviewBy its very nature a review stage that is useful will already have had risk assessment in place at an earlier stage.It is not possible to introduce the risk management process at this stage. Any attempt to introduce anything here will be 'closing the stable door after the horse has bolted' and will be riddled with the wisdom of hindsight. It may also be seen as an instrument to apportion blame. Without the existence of a suitable risk assessment process valuable data may not be captured which allows you to compare the 'overall performance' of the project and the project management. This may be valuable over a period of time when comparing against other projects. SupportIntroduction of the risk management process at this point is very unlikely.Any problems here will be as a result of the failure to identify potential risks earlier. Any problems here may lead to crisis management. For example, a product may have to be withdrawn due to adverse affects found out only after considerable use. This can happen in the pharmaceutical industry or may be the car industry where products may withdrawn for safety issues. 
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 - blame culture Time management - poor delegation Time management - typical process Time management - crisis management Time management - information collection2 Time management - checklists Time management - reminders Time management - projects Time management - review Time management - strategies for getting on with it Time management - delegation process |
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