EGI-Engage:Risk Plan

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Contents


Help and support: quality@egi.eu

Risk registry: https://documents.egi.eu/document/2795 (access restricted to AMB, CB and PMB)

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

Following definitions are used in EGI-Engage Risk management process:

  1. Risk: a risk is defined as an uncertain event or condition that if it occurs, has a negative (threads) or positive (opportunities) effect on a Project's Objectives. (Source: PMBOK) In EGI-Engage the risk management process has been limited to threads.
  2. Risk Registry: a database of identified risks with the associated analysis and response planning as well the estimation of risk occurrence and the history of their treatment.

Risk process.png


  1. Risk identification
    • goal:determining which risks can affect the project and documenting it in the Risk registry
    • a process that is used to find, recognize, and describe the risks that could affect (prevent or undermine) the achievements of objectives.
  2. Risk analysis
    • goal: assessing likelihood and impact , evaluate the risk level
    • a process that is used to understand the nature, sources, and causes of the risks that have been identified and to estimate their level. It will also study impact and consequences and examine the controls (an activity that prevents or detects issues to mitigate risks) that currently exist.
  3. Risk response 
    • goal: defining the actions to be taken in order to avoid the risks or to minimize their impact (risk response plan) for each risk
    • a process of developing options and actions to reduce threats to project objectives
  4. Risk control
    • goal: improve success of risk management activities through continuously monitoring and adjustment
    • a process for implementing the risk response plan, tracking identified risks, performing risk status review


Procedure of Risk risk is written under https://wiki.egi.eu/wiki/PROC04_Risks_review


Risk identification

Input: Expertise of actors involved ;

Output: Initial entry in risk registry

Risk identification is a process that involves finding, recognizing, and describing the risks that could affect the achievement of the project objectives. It is used to identify possible sources of risks 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 conducted by Quality and Risk manager with Work Package leaders
  2. Continuously (whenever necessary):
    • Work Package leaders are expected to inform the Quality and Risk manager in case of identification of new risks or occurrence of a risk


Each risk is supposed to be described in following way:

Risk analysis

Input: entry in the Risk Registry

Output: Prioritized list of risks (list of risks that pose the greatest threats), risk trends

During the analysis the risk level is evaluated by means of interviews to the Work Package leaders and other relevant actors performed by the Quality and Risk manager. Risk rating (level) is calculated according to likelihood and impact matrix.

Risk likelihood descriptors

The following table contains the risk likelihood descriptors:

Rating
Description
Likelihood of occurrence
1 Unlikely Not expected, but there's a slight possibility it may occur at some time.
2
Possible The event may occur at some time.
3
Likely There is a strong possibility the event will occur
4
Almost Certain Very likely. The event is expected to occur in most circumstances

Risk impact descriptors

The following table contains the risk likelihood descriptors:

Rating
Description
Project Objectives impact
1 Minor
  • Any risks which will have just a light impact on the project, still these must be addressed in time.
  • Degradation of deliverable quality barely noticeable.
2
Moderate
  • Risks which will cause some problems, but nothing too significant. Reduction of deliverable quality requires approval.
3
Major
  • Risks which can significantly jeopardize some aspects of the project, but which will not compromise the success of the whole project.
  • Reduction of deliverable quality unacceptable
4
Catastrophic
  • A risk that can be detrimental for the whole project


Risk likelihood and impact matrix (risk level)

The risk likelihood and impact matrix is a grid for mapping likelihood of each risk occurrence and its impact to the project objectives in case the risk occurs. Risks are prioritized according to their potential consequences on the 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 the risk owner, who is responsible for given risk and its risk response, must be identified by Quality and Risk manager and Technical Coordinator. Risk response should be appropriate for the significance of the risk (risk level), cost-effective, realistic and agreed by impacted Work Packages leaders, Technical Coordinator and for high and extreme level risks also by PMB during periodic rick registry review (every 3 months). For each risk impact level the following table presents a suggested response, to be properly defined:


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

Risk Impact level
Response
Minor
  • Accept
  • Define recovery activities
  • Monitor and review
Moderate
  • Avoid or Mitigate
  • Define and implement mitigation activities
  • Managed by monitoring or response procedures
Major
  • Avoid or Mitigate
  • Define and implement
    • controls
    • mitigation activities
    • recovery activities
  • requires Project Management Board attention and definition of management responsibility
Catastrophic
  • Avoid or Mitigate
  • Define and implement
    • controls
    • contingency plan
    • recovery activities
    • mitigation activities
  • Must be managed by Project Management Board with a detailed treatment plan.

For each risk level the following table presents a suggested involvement of the actors:

Risk level
Involvement
Technical Coordinator Work Package leader
PMB
Low
Informed Active engagement Informed
Medium
Consulted Active engagement Informed
High
Active engagement Active engagement Consulted
Extreme
Active engagement Active engagement Active engagement


Risk control

Input: Risk registry

Output: Improved success of risk approach

Risk control is a process to improve efficiency of the risk management through continuously monitoring and adjustment. It implements risk response plan, tracking identified risks, performing risk reviews.
The main activities planned as part of risk control are:

  1. Continuously (whenever necessary)
    • Work Package Leaders are
      • applying risks response
      • reporting on risk occurrence
      • reporting on new risks identified
  2. On a monthly basis
    • Quality and Risk Manager is
      • reporting to PMB risk occurrences and newly identified risks which require PMB attention.
  3. Every 6 months
    • Quality and Risk Manager is conducting the risk registry review with Work Package leaders, including:
      • identification of deprecated risks
      • reassessment of impact and probability of existing risks
      • review of risk response
      • identification of new risks
    • Quality and Risk Manager is reporting to PMB the results of the review.

Roles

Involved actors are project team members who take part in risk management process. All actors have clearly assigned roles and responsibilities, which are defined as follow:

Quality and Risk Manager

Responsible for:

Technical Coordinator

Responsible for:


Work Package leaders

Responsible for:

Project Management Board

Responsible for:

Timing

This section describes when and how often the Risk Management Process will be performed during the project life cycle. The Risk Management Process timing is as follow:

  1. Continuously (whenever necessary)
    • Work Package Leaders are
      • applying risks response measures
      • reporting by email on risk occurrence to the Quality and Risk Manager
      • reporting by email on new risks identified to the Quality and Risk Manager
  2. On a monthly basis (whenever necessary)
    • Quality and Risk Manager is
      • reporting by email to PMB about risks occurrence and newly identified risks which require PMB attention.
  3. Every 6 months
    • Quality and Risk Manager is conducting risk registry review with Work Package leaders (through Activity Management Board), including:
      • identifying deprecated risks
      • reassessment of impact and probability of existing risks
      • reviewing of risk response
      • identification of new risks
    • Quality and Risk Manager is reporting during PMB meeting about the results of the review.


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