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    Risk Identification Tool

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    PAUL JOHN PACULANANG
    This document discusses various risk identification tools and techniques that can be used to identify potential risks for a project. It describes tools such as brainstorming, nominal group technique, Delphi technique, interviews, checklists, SWOT analysis, cause and effect diagrams, and risk checks. Some key points: - Brainstorming is a less structured technique to generate ideas from a group, while nominal group technique uses individual and then group participation to lessen chaos. - Delphi technique obtains predictions from a panel of experts anonymously to reduce bias. - Interviews, checklists, and reviewing past projects can provide historical information. - SWOT analysis and cause and effect diagrams help identify broad

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    Risk Identification Tool

    Uploaded by

    PAUL JOHN PACULANANG
    24 views15 pages
    This document discusses various risk identification tools and techniques that can be used to identify potential risks for a project. It describes tools such as brainstorming, nominal group technique, Delphi technique, interviews, checklists, SWOT analysis, cause and effect diagrams, and risk checks. Some key points: - Brainstorming is a less structured technique to generate ideas from a group, while nominal group technique uses individual and then group participation to lessen chaos. - Delphi technique obtains predictions from a panel of experts anonymously to reduce bias. - Interviews, checklists, and reviewing past projects can provide historical information. - SWOT analysis and cause and effect diagrams help identify broad

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    RISK IDENTIFICATION TOOL

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    This document discusses various risk identification tools and techniques that can be used to identify potential risks for a project. It describes tools such as brainstorming, nominal group technique, Delphi technique, interviews, checklists, SWOT analysis, cause and effect diagrams, and risk checks. Some key points: - Brainstorming is a less structured technique to generate ideas from a group, while nominal group technique uses individual and then group participation to lessen chaos. - Delphi technique obtains predictions from a panel of experts anonymously to reduce bias. - Interviews, checklists, and reviewing past projects can provide historical information. - SWOT analysis and cause and effect diagrams help identify broad

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    24 views15 pages

    Risk Identification Tool

    Uploaded by

    PAUL JOHN PACULANANG
    This document discusses various risk identification tools and techniques that can be used to identify potential risks for a project. It describes tools such as brainstorming, nominal group technique, Delphi technique, interviews, checklists, SWOT analysis, cause and effect diagrams, and risk checks. Some key points: - Brainstorming is a less structured technique to generate ideas from a group, while nominal group technique uses individual and then group participation to lessen chaos. - Delphi technique obtains predictions from a panel of experts anonymously to reduce bias. - Interviews, checklists, and reviewing past projects can provide historical information. - SWOT analysis and cause and effect diagrams help identify broad

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    RISK

    IDENTIFICATION
    TOOL
    LEARNING CYCLE- (Identify facts, assumptions)
     Identifying risk is the process of understanding what potential events might hurt
    or enhance a particular project.

     Another consideration is the likelihood of advanced discovery

     Risk identification tools and technique include;

    • Brainstorming

    • The Depth Technique

    • Interviewing

    • SWOT analysis
    BRAINSTORMING (less structured)
     is a technique by which group attempts to generate ideas or find a solution for a
    specific problem by amassing ideas spontaneously and without judgement.
     an experienced facilitator should run the brainstorming session.
     identification of many risks, team must be available, highly creative, encourages
    teamwork and if not adequately executed, it can lead to “chaos”

    Brainstorming Process:
    -Define the scope
    -Get a facilitator
    -Get a list of participants
    -Conduct brainstorming sessions
    -consolidate responses
    -fill up the list with the identified risks
    NOMINAL GROUP TECHNIQUE-
    (structured)
     used in problem solving sessions to encourage creative thinking
     individual brainstorming
     get the info in advance
     mix of the individual and group participation
     fast and effective
     lessens the “chaos” of brainstorming
     each member of the group writes down his/her ideas, which are then discussed and
    prioritized one by one by the group.
    DELPHI TECHNIQUE- (a group of experts)
     is used to derive a consensus among a panel of experts who make predictions about future
    developments. (Interview SME’s)
    • a facilitator uses a questionnaire to get ideas about important risks
    • responses are summarized & recirculated to experts for further comment
     Helps reduce bias & having I person have undue influence on the outcome
     provides independent and anonymous input regarding future events
     used when there may be conflicts or when brainstorming is not recommended
     Used to get comments from competitors
     slow process
     uses repeated rounds of questioning and written responses and avoids the biasing effects possible in
    oral methods, such as brainstorming
    INTERVIEWS
     is a fact-finding technique for collecting information in face-to-face, phone, e-
    mail, or instant-messaging discussions.
     interviewing people with similar project experience is an important tool for
    identifying potential risks
    CHECKLIST- (structured tools)

     can be developed based on historical information and knowledge that has been
    accumulated from previous similar business and from other sources of
    information
    SWOT Analysis
     a method used for controlling areas of planning and risk and highlight areas of the
    project that could be maximized to benefit of the whole project or individual areas where
    some competitive advantage may be gained.
     it is used to evaluate particular activities of the project in order to optimize their potential
    as well as to evaluate risks
     normally performed during the initial project start-up phase so that the elements of the
    analysis can form the basis of the project plan
     also can be used later in the project
     (strengths, weaknesses, opportunities, and threats) can also be used during risk
    identification
     helps identify the broad negative and positive risks that apply to a project
    CAUSE & EFFECT- (a.k.a
    FISHBONE/ISHIKAWA)
     Graphically illustrates the relationship between a given outcome and all the
    factors that influence this outcome.
     specify the effect to be analysed. The effect can be positive (objectives) or
    negative (problems). Place it in a box on the right side of the diagram
     List the major categories of the factors that influence the effect being studied.
    • The “4 Ms” (Methods, Manpower, Materials, Machinery) or the:
    • “4 Ps” (Policies, Procedures, People, Plant) are commonly used as a starting point
    PAST PROJECT- (lesson learned from
    past
    Nominall Group Technique (NGT)

     each individual silently writes their ideas on a piece of paper


     each idea is the written on a board or flip chart one at time
     in a round-robin fashion until each individual has listed all of his or her ideas
     the group then discusses and clarifies each of the ideas
     the group the discusses the ranking and priorities
     each individual ranks and prioritizes the ideas again
     the rankings and prioritizations are then summarized for the group
    RISK CHECK
     Funding for the project has been secured
     Funding for the project is sufficient
     Funding for the project has been approved by senior management
     The project team has the requisite skills to complete the project
     The project has adequate manpower to complete the project
     The project charter and project plan have been approved by senior
    management or the project sponsor
     The project’s goal is realistic and achievable
     The project’s schedule is realistic and achievable
     The project’s scope has been clearly defined
     Processes for scope changes have been clearly defined
    STRENGTH WEAKNESSES OPPORTUNITIES THREATS

    -Things your company does -Things your company -Undeserved markets -Emerging competitors
    well lacks for specific
    -Changing regulatory
    -Qualities that separate you -Things your competitors -Few competitors in
    from your competitors do better than you your area -Negative press/ media
    coverage
    -Internal resources such as -Resource limitation -Emerging need for
    skilled, knowledgeable staff. your products or -Changing customer
    -Unclear unique selling services attitudes toward your
    -Tangible assets such as proposiition company
    intellectual property, capital, -Press/media coverage
    proprietary technologies etc. of your company
    CAUSE & EFFECT DIAGRAM
    FISHBONE/ ISHIKAWA

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