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Managing Risk at Solystic

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Title: Managing Risk at Solystic


1
(No Transcript)
2
Managing Risk at Solystic
  • Workshop

3
Workshop Introduction
  • Opening by Frédéric Badier
  • Learning Objectives
  • Workshop Overview
  • Participant Introductions
  • Participant Expectations

4
Learning Objectives
  • The purpose of this workshop is to provide
    participants with a solid understanding of Risk
    Management principles, approach, techniques and
    best practices

5
Learning contents
  • Develop your skills to
  • Understand what is risk
  • Anticipate risk before it arises
  • Set up action plan to eliminate anticipated risks
  • Set up action plan to recover situation when
    risks arise
  • Use a common Solystic Risk Management methodology
    to be integrated into your project plan

6
Why a Risk Management Methodology ?
  • A Risk Management methodology
  • For the Operation department to be in a better
    position to face the rapid changes in the market
    and a growing competition
  • To address needs expressed by Northrop
  • To be in line with strategic customers
    expectation
  • To make life of Project Managers and Chargé
    dAffaires easier through better planning,
    being more proactive than reactive
  • To better cope with the shortening of the overall
    production cycle

7
The proposed methodology
8
Learning Approach
  • Diverse learning methods
  • Business related case studies
  • Balance between theory and practice
  • Leverage knowledge and experience of participants
  • Balance individual and course goals

9
Workshop Overview
  • Module 1 - Project Risk Management
  • Module 2 - Risk Identification
  • Module 3 - Risk Analysis
  • Module 4 - Risk Avoidance and Mitigation
  • Module 5 - Risk Monitoring and Control
  • Module 6 - Risk Management Implementation
  • Module 7 - Risk Management Tips and Tricks
  • Module 8 - Cost Effectiveness of Risk Mgt

Day 1
Day 2
10
Indicative Schedule
Day 1
Day 2
Start 8.30 am
Start 10 am
Break 10.45
Break 11.30
Lunch 13.00-14.30
Lunch 12.30-14.00
Break 16.00
Finish 16.30
Finish 18.30
11
Introduction and experience sharing
  • Experience in leading Risk Management and Project
    Management workshops at Nissan, Microsoft across
    Europe, Cisco, Coca-Cola, SUEZ
  • Teaching Project and Risk Management at INSEAD,
    MBA EM Lyon, Milano Catholic University
  • Having implemented SAP projects European-wide at
    Procter Gamble and rolled-out in North America

12
Networking and experience sharing
  • Further to the questionnaire you filled in
  • What is your current position ?
  • Which key project are you currently working on ?
  • In these projects, what are, according to you,
    the Key Success Factors ?
  • What kind of barriers have you identified ?
  • What are the reasons for potential failures you
    have identified ?

13
Project andProject Risk Management
  • Project
  • Project Risk
  • Project Success Failures
  • Risk Processes
  • Risk Management
  • Risk Management Planning

14
Overview
15
What Is A Project?
  • According to you
  • What is a project ?

16
What Is A Project?
  • A project is a temporary endeavor undertaken to
    create a unique product, service or result
  • Source Project Management Institute (PMI)

17
What Is A Project?
  • A project is a temporary endeavor undertaken to
    create a unique product, service or result
  • A project balances business financial benefits
    against risk cost
  • Source Project Management Institute (PMI)

18
What is sound Project Management ?
  • Project management is the art to run and
    coordinate human and material resources
  • All along project life cycle
  • Using specific techniques
  • To meet objectives of time, cost quality and
    aiming thus at total customer satisfaction

19
What is sound Project Management ?
  • Are we performing well?

20
What is sound Project Management ?
  • Are we performing well?

Scope
Scope
Scope
21
Characteristics of a Project
  • Clearly defined and agreed deliverables
  • Set of activities performed once
  • Planned stages reflecting milestones
  • Active Risk management
  • Approved and fixed budget
  • Team assembled for the purpose
  • Clearly defined Benefits to be delivered
  • Clearly identified Pitfalls

22
Project Risk
  • Risk is a measure of a project's inability to
    achieve its objectives
  • It comprises two components
  • the probability of failing to achieve particular
    objectives
  • the consequences of failing to achieve those
    objectives

23
Project Success and Failures
  • The factors influencing the outcome

24
Reasons for project failures (Source Gartner
2005)
25
Project Success
  • A project is successful when
  • It is completed according to scope and schedule
  • The costs do not exceed the project budget
  • The solution fits with the needs
  • Aligns with Business Strategy
  • Meets Customer Business Requirements
  • Realizes the Business Case
  • Ensures Organizational Readiness
  • Although there are varying degrees of failure, a
    project fails if any of the above criteria are
    not met

26
Critical Success Factors
  • Formal and smart objectives needs clearly
    defined and signed off
  • A stable project scope
  • Identified risks and mitigation plan
  • Sponsorship and empowerment from management
  • Adequate human resources, budget and logistics
  • Efficient business leader-project leader
    co-management
  • Strong project methodology, clear and common
    approach
  • Rigorous acceptance tests
  • Continuous communication detect risk and alert
    system (problems are getting worse with time !)
  • Change impact has been identified and taken care
    of

27
Be SMARTon Objectives
  • S PECIFIC
  • M EASURABLE
  • A GREED
  • R EALISTIC
  • T IME BOUND

SMART !
28
Risk Management
  • Risk management is the practice of controlling
    risk, this process includes
  • Identifying and tracking risk areas
  • Developing Risk avoidance plan
  • Developing Risk mitigation plans
  • Monitoring risks i.e. performing risk assessments
    to determine how risks have changed

29
Risk Management
  • Effective Risk Management is an on going process
  • Effective risk management is a critical
    component of any winning management strategy in
    the market
  • If properly designed, effective risk management
    allows an organization to actually take on some
    additional risks, provided they are carefully
    managed and balanced with extra-value

30
Risk Management Process
3. Qualitative Risk Analysis
2. Risk Identification
1. Risk Management Planning
4. Quantitative Risk Analysis
Risk Management Process
6. Risk Monitoring and Control
5. Risk Avoidance Planning
31
The IPECC Process Groups based on PMI
Process Groups
Initiating
Planning
Executing
Controlling
Closing
32
The IPECC Process Groups Sequence
The process groups help to manage the project
lifecycle
33
Initiating Projects
34
Project Initiation System View
Input
  • Objectives
  • Description of project deliverables
  • Information/learning from prior projects
  • Identification of key users and stakeholders

Output
End Results
  • Project proposal
  • Preliminary Project
  • Scope Statement
  • Risk Management Plan
  • Rough cost/benefits
  • assessment
  • Assumptions/constraints
  • Go/No go review with Management
  • Formal agreement
  • to go
  • Budget released or CER approved
  • Project team appointed

35
Project Initiation
  • Getting started
  • Defining rough scope and objectives
  • Checking alignment with overall strategy and
    organisation or department priorities
  • Designing a statement of work
  • Identifying all key players and stakeholders

36
Project Initiation
  • At Macro-level i.e. roughly
  • Assess feasibility based on clients requirements
  • Prepare a rough schedule and preliminary scope
  • Prepare a first Risk Management Planning
  • Run a rough Cost Benefit

37
Defining Preliminary Scope Statement
  • An important step in the Initiation phase is to
    define the Scope of the project
  • In the methodology you will find the terms SOW
    i.e. Statement Of Work

38
Scope Statement Tip
  • The Scope
  • Defines the project boundaries
  • What is IN and what is OUT
  • Remember to be SMART

39
Define Scope Carefully
  • How many modules?
  • How many legacy systems ?
  • How much legacy data conversion ?
  • How many systems to interfaces ?

Pan European ERP Project
What you don't know hurts you!
40
Project Proposal Go or No Go ?
  • The Project Proposal is submitted to Management
    for approval
  • The end result is
  • a Go or No Go

41
Exercise on Risk Identification Reasons for
failure
  • Work in teams
  • Subject Replacement of Mechanized Letter
    Sorting Systems in Hong Kong
  • Identify Risk Areas and link them with potential
    reason for failures
  • Prepare the exercise in team (30 min)
  • Elect a presenter (s) to feedback to the main
    group (10 min. max)

42
Risk Management Planning
  • Within the Project Management methodology, we
    will now focus on Risk Management Planning
  • In the context of Solystic, we start from T0 i.e.
    at the beginning of the Execution phase

43
Risk Management Lifecycle
Stage Initiation
Project Initiation
Throughout Stage
3
Identification Documentation
1
2
6
7
4
Establish Strategy
Initiate Risk Log
Tracking Reporting
Closing
Assignment Review
5
Analysis Mitigation
44
Risk Management Planning
  • The purpose of Risk Management is to assure that
    the risks to the success of the project are
    identified and avoidance and mitigation plans are
    developed
  • The Risk Management Plan includes
  • Risk Identification Assessment
  • Risk Avoidance Plan
  • Risk Mitigation Plan execution
  • Monitoring Risk Assessments

45
Risk Management Planning
  • The 5 fundamental questions to be
    asked/addressed in both Project AND Risk
    Management Planning are
  • WHAT / WHY?
  • HOW?
  • WHO?
  • WHEN?
  • HOW MUCH?

46
Inputs to Risk Management Planning
  • Project Proposal
  • Organizational Policies
  • Analysis of Stakeholder Tolerances
  • Planning Meetings and Agenda

47
Outputs of Risk Management Planning
  • Risk Management Plan
  • Scope
  • Schedule
  • Deliverables
  • Activities
  • Team
  • Cost

RISK
48
Risk Identification
  • Risk Identification
  • Risk Categories
  • Risk Statements

49
Inputs for Risk Identification
  • Project and Risk Management plans
  • Performance/Quality issues
  • Technical issues
  • Organizational environment
  • Business environment
  • Financial constraints
  • Regulatory issues
  • Historical information

50
Techniques
  • Interviews
  • Brainstorming
  • Programmatic Dependency Analysis
  • SWOT Analysis
  • Nominal Group Technique
  • Pert Estimating
  • Checklists

51
Programmatic Dependency Analysis
QA / QC
Upper Management
Project Requestor/ End-User
Project Manager
Vendors/ Contractors
Legal
Marketing
R D
Team
Production
52
Risk Identification Outputs
  • Risk Statements
  • Sources of Risk
  • Risk Situation
  • Risk Description
  • Risk Triggers/Events

53
Stating a Risk
Risk
Impact
Situation
  • Describe cause and effect relationship
  • Understand the nature of impact
  • Consider the audience
  • Avoid using might, may, or could
  • Consider multiple effects
  • Do not quantify/qualify severity of Risk

54
Risk Categories
  • Business Imperative
  • Technical
  • External environment
  • Environmental
  • Organizational
  • Regulatory
  • Project Structure and Management
  • People

55
Important Project Risks
56
Linking Risk Management and Project Planning
  • IPECC
  • Risk Focus Areas

57
Risk Management PM Methodology
  • A solid Risk Management needs to be fully
    integrated into the Project Life Cycle
  • Link the different steps in Managing your Risks
    to the IPECC stages

58
Linking Risk with IPECC stages
  • Initiating stage Risk focus areas
  • Stakeholders, especially customers, expectations
  • as per TC
  • Feasibility of technical expected performance
    objectives
  • Assessment on rough cost vs. benefit study
  • Feasibility to meet final deadline
  • and deliver milestones on time
  • Reaction of competition on prices technology

59
Linking Risk with IPECC stages
  • Planning stage Risk focus areas
  • Assessment of the feasibility of your
    plan/schedule
  • Assessment of different alternative scenarios
  • Check on regulatory constraints or
  • deregulation opportunities
  • Likelihood of total cost of your plan
  • Likelihood of getting or not getting the required
    resources (people technology)

60
Linking Risk with IPECC stages
  • Executing stage Risk focus areas
  • Identification of remaining execution risks
  • Assessment of impact from change in the Plan
  • during Execution
  • Overspending vs. original cost budget estimates
  • in the course of the Execution

61
Linking Risk with IPECC stages
  • Controlling stage Risk focus areas
  • Assessment of potential problems in technical
    solution prior to Site Acceptance Test
  • Time slippage in in the course of Controlling
    stage
  • and impact on final completion deadline
  • Diagnose any difficulty or unrealistic
    commitment leading for change in the original
    Plan. Better act now than in the Closing stage

62
Linking Risk with IPECC stages
  • Closing stage Risk focus areas
  • Feasibility of final delivery schedule
  • Feasibility in fulfilling Key Performance
    Indicators expected by the client
  • Likelihood of fast response if emerging
    difficulty in the Site Acceptance Test and final
    delivery
  • Reliability of Site Acceptance Test in reflecting
    the on going reality
  • Assessment of potential need for future
    liabilities and post installation support to the
    client
  • Reliability in assessment of final profit
    delivered in the overall project taking the full
    cost picture

63
Exercise on Risk Management Planning
  • Work in teams
  • Subject iLSM supply to Royal Mail and/or Flats
    Automation Program Phase II
  • Identify - Risk Output
  • - Risk Categories
  • - Cause and effect relationship
  • Prepare the exercise in team (30 min)
  • Elect a presenter (s) to feedback to the main
    group (10 min. max)

64
Risk Analysis
  • Qualitative and Quantitative Risk Analysis
  • Risk Scoring
  • Risk Register
  • Risk Profile
  • Decision Matrix

65
Estimating Risk Probability
66
Severity of Impact
67
Risk Impact
  • Critical an event that, if it occurred, would
    cause program failure (inability to achieve
    minimum acceptable requirements).
  • Serious an event that, if it occurred, would
    cause major cost and schedule increases.
    Secondary requirements may not be achieved.
  • Moderate an event that, if it occurred, would
    cause moderate cost and schedule increases, but
    important requirements would still be met.
  • Minor an event that, if it occurred, would cause
    only a small cost and schedule increase.
    Requirements would still be achieved.
  • Negligible an event that, if it occurred, would
    have no effect on program.

68
Inputs for Qualitative Risk Analysis
For Characterizing Probability
For Characterizing Severity
  • Estimates from individual contributors
  • Project plans
  • Lessons-learned files
  • Range estimating for cost
  • PERT estimating
  • Resource constraints
  • Complexity of the project

69
Decision Matrix
PROBABILITY
High
Medium
Low
Catastrophic
High
SEVERITY
Medium
Low
70
Decision Matrix Solystic perspective
PROBABILITY
High
Medium
Low
Catastrophic
Direct impact on Customer contract e.g Site
Acceptance Test issue
High
SEVERITY
Technical Risk with unlikely solution e.g.
Validation for roll-out
Medium
Technical Risk with solution e.g. Mock-up Design
Low
71
What Can Be Measured?
Quantity how many?
Quality how well?
Cost how much?
Time how long?
72
Risk Assessment
  • In terms of Impact (what is the potential for
    harm) and Probability (how likely is it to occur)

High
IMPACT
Medium
Low
Low
Medium
High
PROBABILITY
73
Risk Scoring
74
Exercise on Risk Analysis
  • Work in teams
  • Subject iLSM supply to Royal Mail and/or Flats
    Automation Program Phase II
  • Run a full Risk analysis, by Risk category
  • - Assess Probability
  • - Assess Severity
  • - Prepare a decision matrix
  • Prepare the exercise in team
  • (40 min)
  • Elect a presenter (s) to feedback to the main
    group

75
Reminder on Project Planning Link with Risk
Management
  • WBS
  • OBS
  • RACI Matrix

76
Risk Management Project Planning
  • A solid Risk Management cannot stand alone
  • But needs to be part of an integrated Project
    Management methodology

77
Planning tasks using Work Breakdown Structure
tool
78
Work Breakdown Structure WBS
  • Based on the agreed scope
  • A method to decompose the tasks down to the level
    of execution

79
Work Breakdown Structure
  • The Work Breakdown Structure (WBS) is a way to
    graphically present the project using
    flowcharting
  • The WBS represents the project in terms of the
    hierarchy of tasks and deliverables it will
    produce
  • The WBS starts with a single box at the top which
    represents the whole project

80
Decomposition
  • The project is then broken down into its
    components with lower level boxes
  • Level 1 Project Name
  • Level 2 Key Deliverables or Work Packages
  • Level 3 Tasks
  • Level 4 Subtasks

81
Work Breakdown Structure WBS
82
Guidelines to build a WBS
  • Start from the agreed Scope
  • Start with a heading box at Level 1 indicating
    the Project Name
  • Identify the major deliverables which will be
    form the basis of the Level 2 i.e. Key
    Deliverables or Work Package

83
Guidelines to build a WBS
  • Drill down your Scope design vertically for each
    Key Deliverable to a Level 3 i.e. Tasks level
  • If necessary, drill further down at a Level 4
    i.e. Subtasks level, until all the subtasks can
    be costed and scheduled

84
WBS Types
  • There are many types of WBS, including
  • phase organized
  • component oriented
  • functional
  • contractual

85
WBS Example (Phased)
Level 1
Make Dinner
Level 2
Prepare Food
Wine
Cook Food
Lay Table
Serve Dinner
Select Wines
Level 3
Prepare
Cook
Serve
Starter
Starter
Starter
Open bottles
Prepare Main
Cook
Serve Main
Course
Main Course
Course
Prepare
Serve
Dessert
Dessert
Level 4
86
WBS Example (Component)
 
87
WBS Example (Functional) en annexe
88
Planning organisation structure Organisation
Breakdown Structure tool
89
Organisation Breakdown Structure (OBS)
  • The Organisation Breakdown Structure
  • A functionally oriented structure indicating
    organizational relationships and used as the
    framework for the assignment of work
    responsibilities
  • A project organization arranged so as to relate
    Key Deliverables or Work Packages to
    organizational units

90
Guidelines to build an OBS
  • Start from your WBS chart
  • Assign names at the Level 2 i.e. Key Deliverables
    or Work Packages level
  • Assign names further down at the Tasks level and
    at the Subtasks level

91
RACI Matrix
92
Assigning responsibility and accountability
  • Roles and responsibilities assignment to
  • Project team members
  • Users
  • Stakeholders
  • Sponsors

93
Project Management Governance rules
  • It is critical to have clearly identified
  • Who will be responsible for what
  • Who will be accountable for what

94
The RACI Matrix A tool for clear roles
assignment
  • R who is responsible for doing the task
  • A who is accountable for approving the task
  • C who should be consulted about the task
  • I who should be informed about the task

95
The RACI Matrix An illustration

96
Risk Avoidance and Mitigation
  • Proactive and Reactive Risk Response Planning
  • Risk Register
  • Risk Aversion
  • Risk Symptoms
  • Contingency Planning

97
Risk Retention
  • The organization expects that taking the risk,
    value will exceed costs
  • The exposure ("potential loss") is too small
  • The odds of success are more than 50-50
  • There appears to be a small number of
    alternatives
  • A contingency plan for recovery is in place

98
Expected Value
  • EXPECTED VALUE REWARD x PROBABILITY OF SUCCESS
    LOSS x PROBABILITY OF FAILURE

99
Risk Response Planning
  • Developing options and determining actions to
    enhance opportunities and reduce threats to the
    project objectives

100
Risk Response Plans Include
  • The strategy applied to address the Risk
  • Specific steps to be carried out
  • Schedule for when these steps will be carried out
  • Assignment of responsibilities
  • Additional resources or outside assistance, if
    required

101
Proactive Risk Reduction
  • Avoidance
  • When feasible, this approach consists in taking
    action step ahead of the identified risk to have
    it eliminated

102
Other Risk Reduction approach
  • Mitigation
  • Reduce Probability of Occurrence
  • And
  • Reduce Severity of Impact

103
Risk Symptoms
A trigger should be
  • Objectiveclear to everyone
  • Appropriaterelated to key causes of Risk
  • Timelyprovide clear early warning that steps
    need to taken
  • Document/distribute risk response plans
  • Inform parties if its necessary to employ
    reactive strategies
  • Add cost of strategies to project cost

104
An existing application at Solystic the NSC
Program
  • Under the NSC program for Belgium
  • (New Sorting Centers)
  • An effective Risk Management methodology has been
    set up from beginning to completion
  • Very interesting learning can be drawn from this
    experience
  • The Risk Management methodology used for NSC is a
    positive application, with room for flexibility
    in adaptation to larger project

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Exercise on Risk Analysis
  • Work in teams
  • Subject iLSM supply to Royal Mail and/or Flats
    Automation Program Phase II
  • Design a Risk management log based on the NSC
    methodology
  • Feel free, in each team, to simplify the template
  • Keeping the items your team regards as critical
  • Prepare the exercise in team
  • (45 min)
  • Elect a presenter (s) to feedback to the main
    group

111
Risk Monitoring and Control
  • Risk Watch List
  • Risk Response Plan Execution
  • Effectiveness Assessment
  • Post-mortem Lessons Learned
  • Triggers for Contingency Activation

112
Risk Monitoring and Control
  • Keeping track of identified risks, monitoring
    residual risks, and identifying new risks

113
Why Reassess Risks?
  • Changes in personnel
  • Changes in the project environment
    (organizational climate)
  • Changes in customer requirements
  • Technological developments
  • Business factor fluctuations
  • Corrections

114
Risk Watch List
Responsible Party ______ ______ ______ ______ ____
__
Current Status _______ _______ _______ _______ ___
____
Previous Priority ______ ______ ______ ______ ____
__
Risk ________ ________ ________ ________ ________
Priority 1 2 3 4 5
115
Before Leaving the Project
  • Did the tasks performed produce the desired
    deliverable on time and within the allotted
    budget?
  • Was this the best (i.e., most efficient,
    effective and/or least expensive) way to produce
    that deliverable?
  • Did the deliverable fulfill the needs for which
    it was designed? (And, if not, why not?)
  • What lessons did we learn?

116
Risk Management Implementation
  • Implementation Strategy and Approach
  • Roles and Responsibilities
  • Risk Management Maturity Stages

117
Maturity Stages
Strategy
Culture
Policy
Repeatable
Ad Hoc
118
Implementation Approach
  • Obtain Senior Management support for the
    initiative
  • Develop a Risk Profile
  • Integrate Risk Management into Existing Project
    Management Processes
  • Practice Integrated Risk Management
  • Enable Continuous Risk Management Learning

119
Risk Profile
120
Roles
  • Risk Owner
  • Risk Action Manager

121
Risk Management Tips and Tricks
  • Project Risk Wheel
  • Supporting Tools and Templates
  • Best Practices

122
Risk Wheel
  • Formalized project charter and roll-out planning
  • Procedures for progress tracking and scope
    management
  • Benefits Realization Tracking
  • Communications program
  • Knowledge Transfer to Competence Center

Clear Objectives
  • Use of accelerators and productivity tools
  • Backfilling
  • System testing standards procedures
  • Post go-live support
  • Clear roles responsibilities

Minimal Business Disruption
Joint IT Business Ownership
  • Involve global process owners
  • Involve business representatives
  • Executive alignment
  • Communication to the organization
  • Address the needs of different stakeholder groups
  • Assess change impact
  • on current organization
  • Early end-user involvement
  • Job specific training
  • HR process alignment

Ongoing ChangeManagement
Flexible Approach
  • Multicultural, experienced teams
  • Clear procedures and policies
  • Adherence to industry standards
  • Alignment Corporate
  • strategy with Regional/Local
  • requirements

Capable Project Team
Strong Project Management
  • Tracking of progress against plan
  • Effective methodologies and tools
  • Quality, risk and issue management
  • Governance model / decision making process
  • Validation after each phase of the project
  • Experienced implementation partners
  • High standards for team
  • Right balance team members
  • Key project roles full-time
  • Team on-boarding and training programs
  • Team incentives

123
Tools and Templates
  • Brainstorming
  • SWOT Analysis
  • Sample Risk List
  • Risk Template
  • PERT Estimating
  • Prioritized Risk Ranking
  • Risk Response Form
  • Program Risk Management Evaluation
  • Procedure Risk Management
  • Procedure Risk Prioritization

124
Best Practice
  • Set Goals for Risk Management Maturity
  • Promote Risk Management Culture and Attitude
  • Set up a Risk Management Function
  • Track Risk Management Performance
  • Provide Risk Management Training
  • Adopt unified Approaches, Tools and Metrics

125
Cost effectiveness of Risk Management
  • Cost of Risk Response Plans
  • Probability of Attaining Project Objectives
  • Cost Effectiveness Assessment

126
Cost of Risk Response
  • Acquisition cost
  • Development cost
  • Testing cost
  • Deployment cost
  • Training cost
  • Communication cost
  • Monitoring cost
  • Support cost

127
Benefits
  • Achievement of Objectives
  • Anticipation of problems
  • Reduced problem solving/trouble shooting
  • Learning from errors of the past
  • Strengthening of Project Management
  • Increased accountability
  • Improved overall Management capability
  • Higher value creation

128
Budget Control
129
Budget Baseline (S-Curve)
The budgeted cost of the work scheduled is known
as the Planned Value or PV for short
130
Budget Burndown Chart
131
Cost Effectiveness
  • Disproportionality Rule
  • (cost of incidents and recovery)
  • (cost of proactive risk response)

132
Conclusion
  • Dont forget that Risk Management is above all
    a search for further opportunities

133
THANKS TO ALL OF YOU !
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