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Difference between revisions of "EGI-Engage:Risk Plan"

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Revision as of 13:54, 29 September 2015

EGI-Engage project: Main page WP1(NA1) WP3(JRA1) WP5(SA1) PMB Deliverables and Milestones Quality Plan Risk Plan Data Plan
Roles and
responsibilities
WP2(NA2) WP4(JRA2) WP6(SA2) AMB Software and services Metrics Project Office Procedures



Help and support: quality@egi.eu

This page is proving rules regarding risk management within EGI-Engage project.


Risk process.png


  1. Risk identification
    • goal: determining which risk can affect the project and documenting it in Risk registry
    • a process that is used to find, recognize, and describe the risks that could affect the achievement of objectives.
  2. Risk analysis
    • goal: assessing likelihood and impact , calculate risk level
    • a process that is used to understand the nature, sources, and causes of the risks that you have identified and to estimate the level of risk. It is also used to study impacts and consequences and to examine the controls that currently exist.
  3. Risk response 
    • goal: defining risk response plan for each risk
    • a process of developing options and actions to reduce threats to project objectives
  4. Risk control
    • goal: improve efficiency of risk approach through continuously monitoring and adjustment 
    • a process of implementing risk response plan, tracking identified risks, performing risk reviews

Roles and responsibilities

Quality and Risk Manager

Responsible for:

  • defining risk management plan
  • helping Work Package leaders in risk analysis and response
  • performing risk reviews
  • reporting to PMB about risk management status

Technical Coordinator

Responsible for:

  • the risk analysis and contingency planning tasks within the project with a peculiar attention to those induced by innovation
  • coordinating implementation of risk response plan

Work Package leaders

Responsible for:

  • identifying and defining new risks
  • review of existing risks
  • implementing risk response plan
  • reporting on risk status

Project Management Board

Responsible for:

  • supporting Technical Coordinator
  • approving risk response for risks level high and extreme

Timing

Risk management process timing is as follow:

  • daily - Risks should be treated and identified on daily basis by Work Package Leaders.
  • every 3 months - Risk management status review is performed by Work Package leaders with Quality Manager support, and reported to PMB.

Definitions

Risk

  • iso 31000: a risk is defined as the effect of uncertainty on objectives
  • PMBOK (Project Management Institute): a risk is an uncertain event or condition that if it occurs, has a positive or negative effect on a Project's Objectives


Risk Registry

  • (Access restricted)
  • database of identified risks with recorded their analysis and response planning


Risk entry

Each risk is described as follow:

  • Risk no - unique risk identifier
  • Risk - one sentence description of the risk
  • Likelihood - (Unlikely, Possible, Likely, Almost Certain) Likelihood (probability) is the chance that something might happen.
  • Impact - (Minor/Moderate/Major/Catastrophic) A consequence (impact) is the outcome of an event and has an effect on objectives.
  • Risk level - (Low/Medium/High/Extreme) The level of risk is its magnitude. It is estimated by considering and combining consequences and likelihoods. A consequence is the outcome of an event and has an effect on objectives. Likelihood is the chance that something might happen. (based on Risk likelihood and consequences matrix)
  • Consequences - description of impact risk will have in case of occurrence
  • Deliverables - Deliverables which might me impacted in case of occurrence
  • KPIs - Impacted KPIs
  • Objective - Impacted Objective
  • WP1-WP6 - Impacted WPs
  • Treatment - (accept, mitigate, avoid) description of possible treatment of the risk
  • Owner - A risk owner is WP that has been given the authority to manage a particular risk and is accountable for doing so.
  • Trend - (Stable, Improving, Degrading, New, Deprecated) Indication of risk trend comparing to previous risk review period
  • Comment for PMB - additional comments for PMB after AMB review


Risk identification

Input: Work Package leaders expertise 

Output: Initial Risk entry in Risk registry

Risk identification is a process that involves finding, recognizing, and describing the risks that could affect the achievement of an organization’s objectives. It is used to identify possible sources of risk in addition to the events and circumstances that could affect the achievement of objectives. It also includes the identification of potential consequences.

Risk are identified:

  1. Periodically: 
    • During Risk registry review through interviews and brainstorming with Work Package leaders
  2. On daily basis:
    • For all newly identified risks EGI Engage risk entry template should be filled in (Part Risk Description)
    • Sent the document to Quality Manager (quality@egi.eu)

Risk analysis

Input: risk entry in Risk registry

Output: prioritized list of risks (list of risks that pose the greatest threat), risk trends 

The level of likelihood and impact for each risk is evaluated during the interviews with Work Package leaders performed by Quality manager. 

Risk rating (level) is calculated according to Likelihood and impact matrix:

Risk likelihood and impact matrix (risk level)

The matrix is a grid for mapping the impact and likelihood of each risk occurrence and its impact to the project objectives if that risk occurs. Risks are prioritized according to their potential implications on project objectives.

Likelihood Impact
Minor Moderate Major Catastrophic
Unlikely Low Low Medium Medium
Possible Low Medium High High
Likely Medium High High Extreme
Almost Certain Medium High Extreme Extreme

Risk response 

Input: Risk registry

Output: Risk response plan for each risk

Within this process risk owner, who is responsible for given risk and its risk response, must be identified. Risk response should be appropriate for the significance of the risk (risk level), cost-effective, realistic and agreed by involved parties.

Following response activities are foreseen:

  • Accept
  • Mitigate
  • Avoid


Following response activities are foreseen:

  • Mitigation activities: activities designed to minimize the severity of the event once it has occurred.
  • Recovery activities: activities serve to bring back disrupted systems and infrastructure.
  • Contingency plan: process-level documents describe what an organization can do in the aftermath of a disruptive event; they are usually triggered based on input from the emergency management team.
  • Controls: additional controls applied in order to reduce it to an acceptable level.


Following table presents for each Risk level expected response to be defined and involvement of Risk management team members.

Risk Impact
Response
Minor
  • Accept
  • Define
    • recovery activities
Moderate
  • Mitigate
  • Define
    • mitigation activities
Major
  • Mitigate
  • Define
    • controls
    • mitigation activities
    • recovery activities
Catastrophic
  • Avoid/mitigate
  • Define
    • controls
    • contingency plan
    • recovery activities
    • mitigation activities


Risk level
Involvement
Quality manager
Technical Coordinator Work Package leader
PMB
Low
Informed Informed

Accountable

Active engagement

Informed
Medium
Consulted Consulted

Accountable

Active engagement

Informed
High
Consulted Active engagement

Accountable

Active engagement

Informed

Consulted

Extreme
Responsible Active engagement

Accountable

Active engagement

Active engagement


Risk control

Input: Risk registry

Output: Improved efficiency of risk approach

Risk control is a process which goal is to improve efficiency of risk approach through continuously monitoring and adjustment. It  is implementing risk response plan, tracking identified risks, performing risk reviews.

Activities

  1. Periodically - every 3 months (AMB and PMB):
    • performing Risk registry review through interviews and brainstorming with Work Package leaders. Outcome is reported by Quality manager to PMB.
  2. On daily basis (Work Package Leavers):
    • implementation of risk response plan
    • tracking identified risks
    • report on risk occurrence to Quality manager