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Week 3: Risk Identification (continued) - Discussion
Risk Identification (graded)
The project charter usually will include assumptions about the risks the project will face.
These assumptions may or may not be correct. Once the risks are identified, what do you
think would be the way to verify or refute these assumptions?
Responses
Response
Author
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Hi
Class
Date/Time
0
Professor Moretti
1/14/2012 11:25:48 AM
Let's start this discussion by addressing the following: The project
charter usually will include assumptions about the risks the project
will face. These assumptions may or may not be correct. Once the
risks are identified, what do you think would be the way to verify or
refute these assumptions?
Thanks,
OLM
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RE: Hi
Class Adriana Garcia
1/18/2012 11:42:12 PM
The charter is laying down the foundation of the project. Identifying the risks will be
helpful. Knowing the risk assumptions needs to be checked off in the very beginning of
the project in order to be successful. Then the team will be able to continue with the
project without having any surprises at the end. This is only to avoid the mistakes and
time wasted along the way in a project. Using the template gives everyone a better
perspective of how the project will end.
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RE:
Hi
John Garganera
Class
1/19/2012 9:04:26 PM
Adriana:
How to check the assumption on the risk if that risk is not even possibility to
happen. What if that never happened because we did what we about to do
with no distractions? Well, I think its impossible to have the project to be
perfect without risk and interruption. BUt just in case the risk that we
assume that will happen and that never happen?
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RE:
Hi
Adriana Garcia
Class
1/22/2012 11:25:27 PM
John, I really do not understand your question.
All I can say is being prepared and do not take short cuts would
lead to success. Being prepared and using all the resources that a
project manager has should be used in case of a risk to be present.
Of course how will we know of a risk if we do not see it coming. But
we should also present possible misshapen in everything we do in
life. If the risk we thought would happen did not happen we are
safe to say we were prepared.
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RE: Hi
Class Mei Chen
1/18/2012 8:25:59 PM
The risk assumptions should be done in the very early stage of the project. In order to
verify these assumptions, we can look into the pass experience / sample cases to see
if the assumptions are valet, and we can further verify these assumptions throughout
the process of the project as it goes on.
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RE: Hi
Class Amber Webb
1/18/2012 2:26:05 PM
The project charter is typically done very early on within a project, or should be for
any type or size of a project. From this point obvious risks have been identified and
known for the project, the assumptions about the risks are aligned with each risk
within a risk workshop. I think one way to verify or refute these assumptions is to
continue on within the project with periodic tests to look back on risks that have
occurred not occurred, and also the handling of these risks, as well as the outcome.
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RE:
Hi
John Garganera
Class
1/18/2012 3:20:46 PM
Amber:
That is true analization is the big key, We need to analyze those projects
that already been done and know what are the risk involved on that projects
so that it can be intercepted if that risk will be occurring in the near future.
this is what I mostly do when I do a project either be cleaning my room,
doing my chores, driving in the snow. Before I do that, I need to analyze on
what needs to be done first and determine what risk I am taking especially
driving in the snow. Even I am good in driving in the Snow I still cant be
really reckless because the road is really slippery and slusshy, so I need to
do some analization about the potential of my car to overcome those risk.
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RE:
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Tyrone Labad
Class
1/22/2012 5:47:07 PM
Very true amber , also A project charter describes what your project is and
how you will approach it, and it lists the names of all stakeholders. It's a
critical component of the project management initiation and planning phases,
and you'll refer to it throughout the life of the project. Each project begins
with an idea, a vision, or a business opportunity--and that is the starting
point that must be associated with your organization’s business objectives.
The project charter is that starting point. The charter lays the foundation of
the project. It includes a statement of your business's needs. What is the
history that has led to the need? How was it recognized, and why is it
planned now?
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RE: Hi
Class Christopher Morton
1/18/2012 2:26:38 PM
As it states in the PMBOK Guide chapter 11; this would require conducting some
information gathering techniques such as Brainstorming, interviewing, root cause
analysis, and the Delphi technique, which is to allow certain experts participate that
would shed light on particular topics that could lead to obtaining a better perspective
of the risks established. Basically at some point a group effort in numerous meetings
may be the key to potentially weeding out risks or causes of risks with preventive
measures, therefore minimizing the overall risks itself. Anytime you are able to take a
major risk assessment and crunch it down effectively through proper contingencies or
preventive measures, that will help develop an overall better quality project in respect
to planning efforts.
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RE: Hi
Class Matthew Voorhees
1/18/2012 7:13:48 PM
"The project charter usually will include assumptions
about the risks the project will face. These
assumptions may or may not be correct. Once the
risks are identified, what do you think would be the
way to verify or refute these assumptions?"
The way to verify or refute assumptions would be to make that an issue address by
the workshop set up during the identification step. To do this, once all risks are
brought to the table, each risk should be evaluated by the workshop members to
verify it's level of risk. After all risk are evaluated, then the workshop can then move
on to risks not address by the project charter for equal evaluation for risk level.
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RE: Hi
Class Douglas Cave
1/18/2012 7:15:26 PM
Once risks have been identified I believe the project team can work together on a risks
analysis and risk management plan to gather information about the validity of the
risks mentioned.
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RE:
Hi
John Garganera
Class
1/19/2012 9:18:12 PM
Douglas:
I think the Project Manager has a duty to let the team know on what kind of
risk in the projects that they are going to face. I believe that the team
should help each other to determine the assumption in the risk on a Project.
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RE: Hi
Class Walter Monroy
1/17/2012 8:58:50 PM
Once assumptions of possible risk have been establish a
project manager can
use this knowledge to prepare for ways to avoid the risk or
create a contingency plan
in order to reduce the damage associated with the risk.
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Hi
Class
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Tyrone Labad
1/17/2012 12:50:53 PM
The project risks should be aligned with assumptions and assessed in the risk
workshop. Once the assumptions have been identified at the workshop they must be
written down on an assumptions and constraints analysis template. The assumptions
there can be identified, validated and tested. However, risks identified at the project
charter are usually very obvious risks but the reason they are a risk is only discovered
as a part of the risk analysis efforts. Not all risks can truly be assessed until a full
scope analysis is completed for the project so great care should be taken as things will
change in the course of a project.
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Daniel Hintz
Class
1/18/2012 6:34:10 PM
Tyrone - I couldn't agree more. In the risk assessments that I have worked
on we always started with assumptions as the basis of what could happen
and when it happens what to expect. If you have an experience team they
should be able to foresee most risk. The unknown risk can always be dealt
with a more generic template, with specifics being added during the risk
analysis.
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RE:
Hi
Christopher Morton
Class
1/20/2012 8:33:00 AM
Great illustration and explanation Tyronne. I truly believe in all you stated as
risk assessment is based on the amount of knowledge and analyzing that has
been done in regards to those risk identified at the charter. After proper
analysis, some identified risk may not be that profound of a risk due to the
structure of the particular project and tasking goals. Not much more I can
elaborate on this due to your comments.
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RE: Hi
Class Thomas Yusavage
1/16/2012 6:47:31 PM
Once the assumptions have been identified at the workshop they must be written
down on an assumptions and constraints analysis template. The assumptions there
can be identified and validated and tested. During the discussion the assumption will
be considered safe and less likely to occur or proven false based on past experience.
there will be some constraints which can be fixed and shown not likely to change
during the project. Some safe assumptions and constraints corrected can be excluded
as a possible risk. There may even be a few false assumptions that would be
addressed outside this meeting to be considered by the project manager and the
project sponsor.
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RE: Hi
Class Robert Yoes
1/16/2012 9:48:18 PM
Once the risks are identified, what do you think would be the
way to verify or refute these assumptions?
I believe it would helpful to use statistic to attempt to predict the probability of an
event occurring. Conducting a risk workshop with key players in the project is a good
way to bring in the personnel that can help determine what risk are really valid.
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RE:
Hi
John Garganera
Class
1/19/2012 9:25:34 PM
Robert:
Do you think assumptions is always wrong, because we assume that this well
happen, is always be assumption be negative all the time or it can be also
positive?
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RE:
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Robert Yoes
Class
1/22/2012 9:07:44 PM
You should not assume anything, you should make well informed
decisions in all the decisions in your life.
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RE:
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Walter Monroy
Class
1/20/2012 3:56:32 PM
I think that if scheduling and budget allow for it then
having a trial run just to see how
the risk can affect the project is a good idea. If the
budget and scheduling does not allow
for a test run then just being aware of the risk can be
beneficial.
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RE: Hi
Class Ricky Worley
1/15/2012 1:25:45 PM
I know for projects where I have a leadership role I typically do this activity as a part
of the risk workshop wrap up. The Project Charter is established early, typically as a
part of the justification for the project so many of the risks are not known and/or
understood at that point. When the core team has worked through the risk definition
and ranking of risks, they can then look back to see if the early thoughts were correct
or not. In my experience I have often found that risks identified at the project charter
are usually very obvious risks but the reason they are a risk is only discovered as a
part of the risk analysis efforts. I have also found that the periodic risk review
meetings should continue to look backwards as well as forward when exploring project
risks. Things will change in the course of a project so there needs to be vigilance in
regards to understanding those changes. This is just one of many areas that have to
be monitored.
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Hi
Kristy Krezeczowski
Class
1/16/2012 5:27:19 PM
The risks that are known earlier in the project are very simple risks or more
obvious risks. They are normally not specific and are more broad and
general. One way to refute these or verify these is to go into more detail.
Also, you can look into other risks that may be more viable.
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RE: Hi
Class Joseph Allen
1/15/2012 6:21:26 PM
Having a team meeting, or focus group to review the project charter and develop a
WBS would further help to identify risks, verify assumptions and refute assumptions
that were not correct. By breaking down the project into manageable pieces we can
better define what needs to be done and better identify the risks. We will also be able
to better understand which assumptions from the project charter are correct, and
which of those that are not.
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RE:
Hi
Ricky Worley
Class
1/16/2012 3:56:23 PM
Joseph, I think you make a great point. By breaking down the project steps
and analyzing the tasks at a more granular level, the project team can better
see where there may be threats and opportunities related to the project.
When the team is looking at the project as an aggregate objective or group
of objectives, it is often difficult to see what risks and uncertainties exist. The
project may look like it if fraught with all types of issues at first but when the
team breaks everything into the bite sized pieces that will need to be
performed those ogres will become much smaller and may even disappear.
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RE:
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David Froning
Class
1/17/2012 7:07:35 AM
I think you guys are on the right track. By breaking down the
project into small pieces and creating a WBS the team and its
stakeholders can much easier see the risks that are much harder to
see in the initial charter.
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RE:
Hi
Darick Robinson
Class
1/17/2012 10:36:22 AM
After the business professionals have identified
the risk, they should be researched and
evaluated for further assessment. The initial
responses to those risks are developed in the
workshop and they end with the documentation
of the risks, the risk plan, and they set the stage
for the next step in the process: the assessment
step. Some of these risks may be small and
minute in comparison to others, so assessing
these risk can either verify or refute these
assumptions. After verifying or refuting these
assumptions allowing management to eliminate
those risk that are not a big factor while paying
more attention to the risks that are more valid.
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RE: Hi
Class Elizabeth Vorass
1/16/2012 1:24:06 PM
The project risks should be aligned with assumptions and assessed in the
risk workshop. All assumptions should be analyzed and potentially
considered a risk until the assumption can be confirmed that it will follow
through. Having assumptions in a project/WBS increases the associated
risk of the project because the actual follow-through of the process or the
actual availability is not known until confirmed.
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RE: Hi
Class David Badilla
1/16/2012 3:46:50 PM
Not all risks can truly be assessed until a full scope analysis is completed for the
project. Once the full scope is known, then a risk workshop would be a good way to
get ideas from each other, then a discussion to analyze the assumptions to determine
validity. Past experience can be a good determination.
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Reminder Threaded
Discussion
Grading
Expectations
0
Professor Moretti
1/16/2012 11:46:14 AM
Threaded Discussion Grading Expectations
In the Discussion areas of the course, students can interact with
the instructor and classmates to explore questions and comments
related to the content of this course. Discussions will always close
Sunday, 11:59 P.M. Mountain Time (MT). Students are
expected to log into the course and post (respond) in each graded
threaded discussion on a minimum of three separate days per
week in each graded thread, beginning no later than
Wednesday each week. The threaded discussions (TDA) will be
graded for:
Frequency/17 total points - Frequency is calculated on a “points
per day” basis, with 2 points per day for each graded thread plus 5
point for making the first post by Wednesday. Students cannot earn
full points for frequency without meeting the frequency
requirements. A deduction of two points per graded thread is taken
for posting after the Wednesday deadline.
Quality/18 total points - Post quality is evaluated using the
quality measurement criteria listed in the syllabus. DeVry uses the
Portfolio method. For example, a student may post 5 medium
quality posts in one graded thread and earn full points for quality.
Thanks,
Oscar L. Moretti, Ph.D., PE, PMP
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Quiz Like
Question
0
Professor Moretti
1/16/2012 11:47:00 AM
The type of risk that includes the inherent chances of both profit
and loss is:
a. Business Risk
b. Pure Risk
c. Insurable Risk
d. Project Risk
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RE: Quiz
Like
Question
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Joshewa Fishwild Giesseman
1/16/2012 5:49:31 PM
I have two ideas Project Risk and Business Risk. The one I think works
the best is Business Risk Investment risk associated with the changes in
the earnings capability of the company.
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RE: Quiz
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Danielle Hite
Question
1/17/2012 8:35:29 AM
Josh, I also think Project Risk or Business Risk. Project Risk is the recognition
that the problem could occur...but that "problem" doesn't necessarily mean
that it will lead to a loss. I believe Project Risk could lead to a loss, a profit,
or neither come the end of the project. Business Risk can be a gain or loss in
wages, repairs, taxes, general expenses, and so forth. Pure Risk is only
having the possibility of loss as the outcome. There would be no beneficial
result from Pure Risk. Insurable risk is a loss or damage that is definable and
pays out...and to think outside the box, Insurable Risk is a loss of money,
unless it pays out...which then could be profit. Hmmmm.
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RE: Quiz
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Kristy Krezeczowski
Question
1/18/2012 6:17:33 PM
I would also say business risk beacuse there can be a gain or loss
in profit. Just because we know there is a risk, we need to find a
way to see if the success of the project will out weigh the risk,
which is the whole point of the risk management process.
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Question
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Joseph Allen
1/16/2012 6:45:39 PM
I believe I would define the risks as:
a. Business Risk-a risk that includes chances for both profit and loss
b. Pure Risk- A risk that is out of anyones control and normally leads to a negative
event
c. Insurable Risk-A known risk that is more than likely inevitable to happen, therefore
precautions can be taken to insure the outcome of the risk
d. Project Risk-A risk that may take place in the future and can be planned for.
The answer would be a. Business Risk.
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RE: Quiz
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Brett Lubcke
Question
1/18/2012 10:50:30 PM
Like many of my classmates I was going to say that it was both Business
Risk and Project Risk. However you make a very good point with your
definitions.
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RE: Quiz
Like
Adriana Garcia
Question
1/21/2012 4:04:43 PM
Great response and question Joseph. This really does look like a quiz
question. I would be confused with A and B for some reason. I will review it.
Thanks again
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Question
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Ricky Worley
1/17/2012 6:57:51 AM
In my view the correct answer would be a Business Risk. I believe Pure Risk is a risk
where there is no possible gain, Insurable Risks are those that meet criteria that allow
the risks to be spread across parties and project risks, while possibly resulting in
profits or losses for a company, really are focused on upside and downside impacts to
the project itself.
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Question
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Justin Warburton
1/16/2012 9:08:53 PM
A business risk because it can profit but lower than anticipated or that it will
experience a loss rather than a profit but it is the only risk for both profit and loss.
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RE: Quiz
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Professor Moretti
Question
1/17/2012 7:42:01 AM
Good work! The correct answer is Business Risk.
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Question
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Sabino Garza
1/17/2012 7:42:00 AM
The answer is a. Business Risk.
Reference:
A-Moneim, Prof. Dr. Atef M. Risk Assessment and Risk Management.
Center of Advancement of Postgraduate Studies and Research in
Engineering Sciences, Faculty of Engineering - Cairo University
(CAPSCU)
, 2005. Digital.
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Question
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John Garganera
1/20/2012 12:29:05 PM
Business risk- this is no brainer because we all know that the people that will gain
profit and lose are only the Businessman. Well if we talk about pure risk - it talks
about the risk itself. Insurable risk - I think this is where did now know if that risk is
known or unknown. Project risk can lose profits if the project goes wrong because this
is by contract,
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Question
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Darick Robinson
1/20/2012 9:34:22 PM
The type of risk that includes the inherent chances of both profit and loss is Business
Risk.
A business risk is a circumstance or factor that may have a negative impact on the
operation or profitability of a given company. Sometimes referred to as company risk,
a business risk can be the result of internal conditions, as well as some external
factors that may be evident in the wider business community.
When it comes to outside factors that can create an element of business risk, one of
the most predominant risks is that of a change in demand for the goods and services
produced by the company. If the change is a positive one, and the demand for the
offerings of the company increase, the amount of risk is decreased a great deal.
However, if consumer demand for the offerings decreases, either due to loss of
business to competitors or a change in general economic conditions, the amount of
risk involved to investors will increase significantly. When a company’s risk factor is
considered to be increased due to outside factors that are beyond the control of the
company to correct, chances of attracting new investors is severely limited.
http://www.wisegeek.com/what-is-a-business-risk.htm
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Mei Chen
1/21/2012 11:04:45 PM
I believe both Business Rick and Project risk will result in both profit and lost as both
risk will have a chance to have the out come as opportunities.
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HI
Class
0
Professor Moretti
1/17/2012 7:42:48 AM
Brainstorming is an essential tool in the identification step. But it
can get off track easily. How would you keep it from getting out of
hand?
Thanks,
OLM
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Class
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Daniel Worcester
1/17/2012 9:23:21 PM
Whether its brainstorming possible projects, the solutions to problems, or steps to
completing a project brainstorming is an awesome tool. To keep co workers on task
while brainstorming I always like to set up one person as the chairman. This person
using a whiteboard writes everyone's ideas on a white board or piece of paper and
with one idea at a time the team ensures that one idea or another does not go off
task. If the chairman who is elected by the team feels that the team is going off basis
than they have the job to bring everyone back on task.
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HI
Brett Lubcke
Class
1/21/2012 10:23:49 PM
The meeting leader whether that be a chairman or person by
some other name is responsible for staying on track. I have been
in situations where that person is the one that likes to stray
however. It is responsible for every member in the meeting or
the team to keep on track and have some way to relate to the
key objectives. Tangents can be good things. They can lead down
the road less traveled and show solid solutions to complex
problems but they must be kept in check to a certain extent.
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RE:
HI
Adriana Garcia
Class
1/21/2012 4:13:38 PM
Daniel,
Brainstorming is very important because this is what assists in getting ideas
and answers to problems that might come up. I also agree with you about
keeping the team members thinking and working hard with this tool. It
assists in everyone getting into gear and finishing the steps to come. This
also helps for individuals not only group projects. Brainstorming really
organizes a project which is very important because the project needs to
look its best. If the team does a project without being organized the project
could suffer so many problems.
Daniel have you used the whiteboard before? I have in the past but its a
different concept.
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RE:
HI
Daniel Worcester
Class
1/21/2012 8:53:40 PM
Yes and I highly recommend using a white board because its easy
to add and erase ideas. However I highly recommend using a
proctor to facilitate the brainstorming process. When a group of
people try to add their ideas all at the same time ideas get lost
people get confused and some even get intimidated that their idea
will never get heard. By utilizing a proctor they can ensure that all
ideas get heard and all ideas get placed on the board.
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RE:
HI
Adriana Garcia
Class
1/22/2012 11:27:53 PM
Daniel,
Thanks for the advice. Okay so a proctor is a better
solution in brainstorming. I see where you say the team
could be confused because everyone interprets an idea
differently. I would also think it is more visible. Thanks
again.
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HI
Class
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Thomas Yusavage
1/17/2012 2:41:46 PM
The first step is to have a schedule for the meeting time and a deadline to conclude
the meeting, which can be a three day process. There should be between ten to fifteen
people present at the meeting which have a key purpose for being there. This meeting
should be structured with and agenda and a facilitator which can steer the topic back
on track, in case of a run away problem. Each member should state their name and
tell their role in the meeting. There should be a checklist to work from to keep to the
agreed topics needing attention. This meeting process should be put into a start to
finish format controlled by the facilitator to keep the meeting meaningful and on time
and to carate effective results.
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Robert Yoes
1/18/2012 1:24:50 AM
Some good tips to keeping a brainstorming session on track are:
Provide a positive comfortable positive environment for the session
Lay out ground rules to guide the discussion
Don't be dismissive of independent ideas
Keep outlandish ideas out of the pool, be realistic
Brainstorming is a great tool and team building opportunity, keeping it focused will
help keep it guided in the right direction.
http://designinstruct.com/articles/project-management/tips-productive-brainstorming-
sessions/
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Class
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Sabino Garza
1/18/2012 7:44:27 AM
Brainstorming is very important to a team to stimulate the mind. This is a creative
exercise to really motivate the team, by having them contribute. If the brainstorming
is not monitored and setup correctly, it could go of on a major tangent. I found this
website below that has methods of using a brainstorming session efficiently and
effectively. Below, I will display the first three steps for the brainstorming session.
"To run a group brainstorming session effectively, do the following:

Find a comfortable meeting environment, and set it up ready for the
session.

Appoint one person to record the ideas that come from the session.
These should be noted in a format than everyone can see and refer to.
Depending on the approach you want to use, you may want to record
ideas on flip charts, whiteboards, or computers with data projectors.

If people aren’t already used to working together, consider using an
appropriate warm-up exercise or ice-breaker."
Reference:
http://www.mindtools.com/brainstm.html
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Class
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Tymmothy Roy
1/18/2012 9:57:46 AM
When brainstorming you need to keep someone as the leader to ensure you stay on
topic. Alot of times our brainstorming goes off topic and the moderator needs to
remind us where we are trying to head. I personally like using the sticky notes for
brainstorming.
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HI
Class
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Elizabeth Vorass
1/18/2012 11:11:10 AM
At the beginning of the risk management meeting it should be made
clear, and all attendees should agree, that everyone stay on topic and
stay focused on the risk that is being assessed. The leader of the meeting
can redirect the group when it begins to go veer off course by asking the
attendees questions to get them back in the right direction.
Keeping the number of attendees at a reasonable number can also help
to keep the group focused. Though the risk assessment process should
have as many stakeholders as needed to make a thorough assessment, it
should be kept in mind that too many people can make it more difficult to
keep the process focused and productive.
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HI
Class
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Danielle Hite
1/18/2012 11:17:53 AM
I define the problem that we are going to brainstorm on the board then I appoint one
person to record the ideas on a dry-erase board. I call on any 'quiet' individuals to
make sure they contribute and generate their ideas. Eliminating long trains of thought
is important to stay on track. Keeping the brainstorming team to a limited number of
people is crucial also for this type of brainstorming. It's easier to keep my group
focused when I only include 4 - 8 people in the brainstorming session.
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Ricky Worley
1/17/2012 9:13:50 AM
While brainstorming sessions are supposed to allow "free thought" to some degree
there is an opportunity for the group to stray into areas that have little or no relevance
to the project or the risks being discussed. An effective tool i have used to counter this
is something called brain writing ... With this tool there are sheets of paper that are
either posted on the wall or passed around the room that contain definitions of the
topic (risk in this case) and each team member moves from sheet to sheet writing
their ideas regarding the specific topic. While there is still an opportunity to get off
track, this technique seems to work better as it requires the participant to expend
more energy to get off track because they are having to write their thoughts instead of
simply talking. Writing also requires a lot more thought to ensure the idea is clear.
There are other techniques such as popcorn and round robin that produce good
results. A great book (although a little dated) that I have used to identify really
effective facilitation techniques is
Games that Trainers Play by Scannell and Newstrom. (McGraw-Hill, New York, New
York, 1980)
The book is available on Amazon and other outlets
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Robert Yoes
Class
1/18/2012 1:16:05 AM
Interesting post.
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Jeremy Garretson
1/17/2012 10:23:08 AM
I agree that given free thought a group can brainstorm some seriously exageratted
risks during a project. Keeping a realistic apporach to identifing risks is probably the
best way to encourgage brainstorming of realistic risks. For example although you
might be building a robot that has human characteristics, it does not mean that they
will take over and destroy the world. A more realistic risk assumption would be power
outtage due to storms could delay the project, or power surges could damage delicate
electronic parts.
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Daniel Hintz
1/20/2012 1:56:59 PM
When brainstorming you should always have a basic criteria and set the expectations
as to what needs to be achieved and when. The basic criteria or outline should keep
everyone within the boundaries of the project. The expectations should set the
standard of how much each person should input. The time gives the person a
reference as to how much effort they should put into each of their ideas.
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Walter Monroy
1/19/2012 3:33:28 PM
In the book its says that it is important to acknowledge
everyone opinion when brainstorming, i can
see how this can make the brainstorming session go of track.
a way to keep the conversation going
on the right track is to offer constructive criticism or simply
nudge the conversation back on track by asking
for specific.
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Justin Warburton
1/19/2012 8:49:39 PM
To keep on track in a brainstorming session itis essential to be in a comfortable
enviroment where there is not alot of distractions. Also make a list of topics that you
want to cover and try to keep the time short of each subject to keep the meeting
moving.
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David Froning
1/18/2012 8:25:20 AM
For brainstorming sessions you need a leader, or a facilitator that just keeps everyone
on the same page. No one should be afraid to add something to the group or the
session will be a failure. You should have enough people to get a good variety of
information, but not so many that it ends up being mass confusion.
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Joshewa Fishwild Giesseman
1/18/2012 3:54:40 PM
Brainstorming is a great tool to try to master. The better you are
prepared the better off you will be in a project. Brainstorming is a popular
tool that helps you generate creative solutions to a problem. It also helps
you overcome many of the issues that can make group problem-solving a
sterile and unsatisfactory process. So in order to keep it for getting out of
hand you will need to have one person take charge and do some
delegating in the brainstorming process so no one gets off track and stay
on the subject.
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Darick Robinson
1/21/2012 10:44:07 AM
The best way to start a project is with a brainstorming session -- with your team or by
yourself. But brainstorming sessions can lose focus real easy because we have a
tendency to get off track when we have these type of discussions. Here are ten great
tips from SmartDraw.com, the makers of the popular SmartDraw business graphics
software.
1.
2.
3.
4.
5.
6.
7.
8.
9.
Quantity not Quality. When brainstorming on your own or with a team of
people, the goal is to express as many ideas as possible very quickly. Do not
self-censor or hesitate before offering an idea. A free exchange is what can
help bring your most brilliant ideas to the surface.
Pen to Paper. Assign a person to write down all of the ideas on a sheet of
paper that can be seen by all of the participants. This list will serve as the
master and will be culled to include the most relevant suggestions.
No Critics. All ideas should be welcome and no one (leader or participant)
should issue any type of verbal criticism toward an idea presented, no matter
how off base it may seem at the time. This will help keep the environment
supportive and help to encourage everyone to take part in the process.
Time's Up. For fertile idea generation, set a time limit. Having a ticking clock
or a timer helps get the creative juices flowing.
Go the Extra Mile. Even after you think you've exhausted all of the
possibilities, reexamine the ideas presented and push yourself to add a few
more to the list.
Change of Scenery. Sometimes the best brainstorming and idea generation
can happen in new surroundings. So, leave the all-too-familiar conference
room behind and meet somewhere new, maybe a colleague's home, a park or
a quiet café.
Small Groups. Brainstorming works best in groups of up to 15 people. If a
group gets too large, some attendees may not feel as comfortable
participating.
Brainstorm Alone? Sure, it's possible. Create a mind map starting with your
central theme and branch off that, setting new ideas in different circles that
connect to the central theme. Maybe one of your new ideas inspires you, so
make it a theme and connect new thoughts to it. This form of mind mapping
is commonly used by writers trying to spark their imagination. The main rules
are the same: no self-censorship, set a time limit, and keep writing - the pen
must be touching the page the entire time.
Project Maps. Mind maps are great to use in project management. One such
use would be to brainstorm a list of all the questions you have regarding the
scope of your project to make sure you are prepared with the answers.
10. Have Fun! Brainstorming can be fun, and is a great way to boost morale
among employees and help them to feel part of the decision making process.
Source: http://www.allbusiness.com/company-activitiesmanagement/company-strategy/8452360-1.html#ixzz1k7F9f1tc
Source: http://www.allbusiness.com/company-activities-management/companystrategy/8452360-1.html#ixzz1k7EfKF6p
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Mei Chen
1/22/2012 2:12:51 AM
Brainstorming could be very effective or it can be off track easily, sometimes, it's also
easy lead to discussion on other issues instead of the actual topic. I think a list of
discussing topics and the host of the meeting should be able to guide all people back
to the topic if it's off by too far away.
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Kristy Krezeczowski
1/22/2012 12:56:25 PM
You can have a brainstorming leader who makes sure everyone stays on task.
In the past where I work, we have had, after the orignial brainstorming session, we
have a group of pessimist and opptomists who argue the different points to ensure we
are looking at it from every angle. That can get out of control quickly so we put strict
timeframes on each topic and one person is keeping time and notes.
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Amber Webb
1/22/2012 1:42:00 PM
It would best to have one person within the team or the project manager to organize
and keep everyone on track during the indentification step. Brainstorming is essential
towards the growth and sucess of any project but it can go off from the main purpose
very easily, if someone is keeping this process on track then it will minimize this from
happening.
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0
John Garganera
1/17/2012 1:18:58 PM
The risk are identified based on how the Project Management manage the WBS. I think to verify
througroughly is to do some research each break down structure and we will Analyze carefully
along with the team the (what IF) statement and make some solution.
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refuting
assumptions
0
Boris Feijoo
1/17/2012 6:36:53 PM
During the workshop activities risk are identified; however, risk need to be prove appropriate
and real to the project at hand. The validity of each risk is tested by using directed discussions
during the workshop, where each risk (assumption or constraints) is examined to detail to
determine their real impact over the project. During these discussions many assumptions are
often proven false and results support on previous experiences, in the same way constraints
consider fixed can be found to be variable during the life of a project.
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0
Professor Moretti
1/18/2012 8:14:38 AM
The results of the Initiation should include:
· Project Size.
· Project Objectives.
· Tools and Techniques.
· Scales of Probability and Impact.
· All of the above
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John Garganera
1/20/2012 12:24:06 PM
Professor:
A All of the above Because those are needed to determine risk in a project
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Dennis Evans
Modified:1/18/2012 9:28 PM
1/18/2012 9:15:32 PM
The results of the Initiation should include
Project Size
Project Objectives
Tools and Techniques
Scales of Probability and Impact
All of the above.
The answer would be all of the above. They all go hand and
hand to the initiation going.
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Danielle Hite
Like
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1/20/2012 9:08:04 AM
I agree Dennis. According to our lecture information these all do go hand-inhand. Having all of this information in the Initiation step sets us up for the
next step. Defining these 4 items helps us define our risk.
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Sabino Garza
1/19/2012 9:46:56 AM
Answer is All of the above
According to the Lecture from week 2:
The idea of risk management is to identify and manage risks
and reduce their impact on a project. In order to manage
risks, we have to know what they are; we have to identify
them. But how can we identify them if we don't know what
we are trying to accomplish? A risk needs to be looked at in
relation to the thing it will impact, so the first step in a risk
management process should be identifying what objectives
we are trying to accomplish. That is what the Initiation Step
of the ATOM process is all about.
Many projects start with no clearly defined goals and the idea
that we can just define them as we go along. If we don't
define the goals, however, we can't measure the risks to
those goals. That sets up the project to be more inclined to
fail. The Initiation step is based on the idea that the
structured risk process starts with identifying the project
goals and then what will and will not be within the scope of
the project. Once that is defined, the next step is to decide
how comprehensive a risk analysis will be done.
It makes no sense to do a very in depth risk analysis on a
project that will be done in a few days and use very few
company resources. That would be a waste of both time and
money. The risk analysis should be based on the size of the
project, its impact on the company, and based on the project
scope, what areas of the objectives we want to analyze for
risk. We may want to analyze cost and schedule risks and
not those that impact the technical area, or some variation of
these, rather than all of them.
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David Froning
1/18/2012 8:57:35 AM
The initiation step should include the Project Objectives. Without knowing the
objectives the project has no definition and will have no way to study the risk.
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Professor Moretti
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1/19/2012 8:42:41 AM
Hi David:
That is not the correct answer. Try again.
OLM
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Ryan Stover
Like
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1/18/2012 12:37:06 PM
Modified:1/18/2012 12:37 PM
Answer is All of the Above. It’s the idea, the plan, the
initial concept of what the project is trying to
accomplish. That would include first finding your
objectives, understanding the size of the project,
figuring out the probability and impact, and develop
some tools and techniques to help with the planning.
It’s like locating a spot to camp while out hiking
through Tahoe. First step would look at your
surroundings, than figure out how much room you
need, and where there is a water source. You do that
first and then you start to plan the unpacking of your
30lb pack. Should I get the food out first? Should I get
the tent out and up first? Etc.
I currently still don’t have my book so I did some
research through Google and found some good links
that helped me with this question.
Source: http://www.cio.ny.gov/pmmp/guidebook2/Initiation.pdf <---Good
Source: http://www.projectmanagementtraining.net/book/chapter1.html#initiationphase
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Professor Moretti
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1/19/2012 8:43:12 AM
That is the correct answer.
OLM
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INITIATION
RESULTS
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Boris Feijoo
1/18/2012 7:15:57 PM
The initiation process as per chapter three covers the project sizing and which
normally is prepared before the initiation meeting, but in case that the organization
does not have one, it will be develop.Also clarification and precise definition of project
objectives are cover during the initiation as well as tools and techniques and scales of
probability and impact.
The correct answer to this question will ALL OF THE ABOVE.
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1/18/2012 7:29:34 PM
Isaiah Donaldson
Modified:1/18/2012 7:45 PM
The correct answer is "A" all of the above.
Project Size - Hillson and Simon (2007)This determines the level of risk associated
with the project. It also places a level of importance on the project in relation to other
projects within the company
Project Objectives - Hillson and Simon
quality requirements of the project.
(2007)This will cover the scope, time cost, and
Tools and Techniques - Hillson and Simon (2007)This process is where a standard or
modified set os risk tools and techniques are used during the Initiation meeting. The process
is discussed, agreed, and documented in the Risk Management Plan.
Scales of Probability and Impact - Hillson and Simon (2007)This is an agreed to
process where labels are defined and assigned a point value to estimate the impact of an
individual risk.
Hillson, D., & Simon, P. (2007). Practical project and risk management .
Vienna, VA: Management Concepts
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1/18/2012 8:23:34 PM
Joseph Allen
The primary output of initiation is the Risk Management Plan which includes:
Introduction
Project description and objectives
Aims, scope, and objectives of risk process
Application of the ATOM risk management process
Risk Tools and Techniques
Organizational roles and responsibilities
Risks reviews and reporting
Project specific definitions of probability and impacts
Project specific sources of risk
The correct answer would be "All of the above"
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Hi Class,
Situational
Question
0
Professor Moretti
1/19/2012 8:44:45 AM
You are the risk champion for the identification workshop. How will
you get started in organizing the workshop?
Thanks,
OLM
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Class,
Situational
Question
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Joshewa Fishwild Giesseman
1/19/2012 5:10:05 PM
The first thing a risk champion needs to do is the interdiction. Following
the interdiction you will then confirm the project objectives also you need
to confirm the scope of the risk process for the workshop. Once the
objectives and the scope are confirmed the workshop ground rules need
to be stated. I quick briefing, expectations and results and identify risk.
Once this is done you will need to rationalize the risks, describe the risks
using risk metalanguage then finally you will need to record the identified
risks.
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Class,
Situational
Question
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Thomas Yusavage
1/19/2012 6:20:14 PM
The first place to start would be sitting down with the project manager and project
sponsor and create a list of attendees. There should be between ten and sixteen
members in the workshop, there should be enough work through key points for
effective participation and productivity. The risk champion should be able to manage
the group during the session. The average workshop is a couple days long and an
agenda is drawn up to cover the entire meeting from beginning to end, and this should
be handed out before the meeting begins. There should also be prebreifing information
passed out to the attendees before which would ind the summary, project charter and
the larger threats and opportunities in the project.
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Class,
Situational
Question
268191432
Jeremy Garretson
1/19/2012 10:43:46 AM
The first step would be to contact the project manager and decide who all should be in
attendance for the workshop including the stakeeholders.Then proceed to planning the
agenda for the meeting and pre-briefing materials should be circulated to prepare the
atendees.
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Class,
Situational
Question
Douglas Cave
1/22/2012 7:41:03 PM
The first thing I would do is sit down with all major stakeholders and pm and have a
clear defined scope of project. I would then brainstorm with everyone to come up with
a list of potential fears or risk to manage properly. I would then create a risk
management plan and implement training to make all aware of the plan.
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Class,
Situational
Question
Christopher Morton
1/22/2012 2:53:32 PM
Primarily I would address the key players that should be involved in the workshop,
whether through specific department or specific roles within the company or project.
This in turn would help establish a baseline in diverse thinking towards risk
assessment. I would then establish a reporting process in regards to the risks
identified and analysis pertaining to go along with contingencies to counter those risks.
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Class,
Situational
Question
Daniel Hintz
1/21/2012 11:26:19 AM
First I would get a list of stakeholders who would be affected by the risk and who can
help with the response plan. Second I would create an agenda for brainstorming the
risk and the response. I would also make sure once the risk are identified that the
register is completed and that meeting minutes are taken. The minutes would allow for
us to pick up where we left off from the previous meeting.
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Hi
Class:
0
Professor Moretti
1/20/2012 7:16:37 AM
Can you list the outputs of the risk identification process?
Thanks,
OLM
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RE: Hi
Class:
Brett Lubcke
1/22/2012 8:31:27 PM
The output of the risk identification process is a risk register.
(http://www.slideshare.net/blairaj/Project-Risk-ManagementPMBOKApex slide 8). A
list of the key risks and their likelihoods
(http://changingminds.org/disciplines/change_management/4d_change_project/docu
ments/risk_register.htm) .
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Class:
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Amber Webb
1/20/2012 2:35:52 PM
One of the main outputs from the risk identification process is the entry into the risk
register. A list of clearly identified risks will be made, as well as uncertain project
assumptions are described. Risks responses are also generated through this process
which gives clear and manageable solutions to a unknown or known risk. Causes or
where risks come from may also come from the risk identification process. It is part of
the process that as risks are identified more risks become known or foreseen, which
will even further limit possible set backs for the project at hand.
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RE: Hi
Class:
Douglas Cave
1/21/2012 5:36:43 PM
The outputs from risk identification are: risks, triggers, and inputs to other processes.
A risk is an uncertain event or condition that could have a positive or negative effect
on a project objective.
Triggers are symptoms or warning sign that indicate that a risk has occurred or is
about to occur.
The third output from risk identification is inputs to other processes. In the process of
identifying risks, you may also identify the need for further action in another area.
269601542
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RE: Hi
Class:
Dennis Evans
1/21/2012 5:45:14 PM
As it states on page 138 our book.
Here is a list of outputs of the risk identification process.
1. Confirm scope and objectives of risk process
2. Identify risks using:
Assumptions and constraints analysis
Standard risk checklist
Open discussion / brainstorm (if necessary)
3. Rationalize risks
4. Assess probabilities and impacts, plot P-l matrix
5. Assign risk owners
6. Prioritize risks
7. Determine response strategy and initial actions
8. Record risk data (after meeting)
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RE: Hi
Class:
Elizabeth Vorass
1/20/2012 7:59:27 AM
According to the PMBOK Guide, identifying risks is the process of
determining which risks may affect the project and documenting their
characteristics. The main outputs of the risk identification process are
contained in the Risk Register and are the outcomes of other risk
management processes as they are conducted. This includes a list of
identified risks, in detail with their root causes, and sometimes a list of
potential responses. The list of potential responses can become useful in
the future when determining inputs for planning the Risk Response
Process.
268834735
outputs
268798155
Boris Feijoo
1/20/2012 9:00:18 AM
According to our text book, in chapter 5 " exposing the challenge(Identification)
pages.57 and 64. The identification process produces :
- A consolidated agreed list of risk described using metalanguage. ( Main output)
- A list of initial responses.
The outputs an initial responses are recorded to be used as an inputs in the next
process step , The Response planning.
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Professor Moretti
1/20/2012 7:19:01 AM
The project objectives are defined by:
· the project team.
· the stakeholders and project manager.
· the project manager and project team.
· the management team.
· The project manager.
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Boris Feijoo
1/20/2012 9:42:16 AM
Our text book makes emphasis that project objectives should be defined and
documented before the project start in the project chapter ( pag. 43) ; however,
mentions in different parts that key stakeholder must get involve (pag.38,44) and
even in the case or no having a defined project objectives, they must be defined at the
start of the initiation meeting.(pag 43).and since the project manager must be aware
of the context of the whole project and form part of the decision making for the
project , I have to say the answer is:
The stakeholder and project manager.
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David Froning
Like
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1/20/2012 9:47:53 AM
I would agree that the Stakeholder and the Project manager will define the
objectives, and it is the Project Managers job to manage the project to
complete the objectives.
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Tymmothy Roy
1/20/2012 10:36:31 AM
The stakeholder and project manager would be the correct answer. This questions
remind me of the Project+ exam.
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Ryan Stover
Like
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1/20/2012 2:09:42 PM
I agree, What is "The Stakeholders and Project Manager"
Trabeck.
Stakeholder Source: http://erc.msh.org/quality/ittools/itstkan.cfm
Keyword in that links definition is "influence" and “Conduct a
stakeholder analysis in the early stages of planning a quality
improvement initiative.”
Naturally the Project Manager’s role is to determine the scope as
well as the expected deliverables which makes definition of the
project.
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Professor Moretti
1/21/2012 7:33:20 AM
Like
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Hy Ryan and All:
That is the correct answer.
Thanks,
OLM
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Jeremy Garretson
Like
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1/22/2012 8:22:14 AM
The stakeholders decide the objects with the project manager because the
stakeholders are the ones that have finaces at stake and the project
manager is the person that decidedes whether the objectives are obtainable
and realistic.
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Joseph Allen
1/20/2012 7:53:25 PM
Project objectives should be defined before the project starts and documented in the
project charter. In this case the management team would define the objectives of the
project, document them identify key stakeholders and assign a project manager.
If the objectives are not clearly defined at the start of the project the objective should
be clearly identified and agreed on in the initiation meeting which is attended by the
key stakeholders and project manager.
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Isaiah Donaldson
Like
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1/21/2012 5:44:12 PM
You are right about project objectives being defined and documented in the
project charter. The key phrase to me is documented. I have seen projects
where objectives were discussed and agreed to but later in the project the
objectives were argued. Some stakeholders grew amnesia and said the
objectives were defined another way or never mentioned at all. When
projects go wrong the finger pointing will start. Documentation is the key to
CYA (cover your a$$).
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Dennis Evans
1/20/2012 8:57:33 PM
As it states in the book. "Hillson and Simon pg23"
If risk is defined as "any uncertainty that , if it occurs, would
have a positive or negative effect on achievement of one or
more objectives." then clearly the first step in a risk
management process is to ensure that the objectives at risk
are well defined and understood.
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Daniel Worcester
1/20/2012 10:19:13 PM
The project objectives are defined by the group that initiates the project. In most
cases this is going to be the the stakeholders and the project manager. A project is
established to meet the expectations of a customer whether the customer is internal
or external there would be no project unless someone asked for it. These people are
the stakeholders they have the most to gain or loose by with the project thus they set
the objectives with what needs to be done. The project manager is in this equations
because he knows or should know the limitations of the team. If the stakeholders
request too much the project manager can inform them the capabilities of the team
they are working with thus the project manager ensures the objectives that are set
are within the capabilities of the team.
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Project
assumptions Tyrone Labad
1/21/2012 7:40:08 PM
The primary challenge of project management is to achieve all of the
project goals and objectives while honoring the preconceived assumptions
of risk. Typical constraints to the project include scope time and
budget.However there are always other challenges that focus and include
the stakeholders ability to optimize the allocation of resources and
integrate the inputs necessary to meet pre-defined objectives.
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Isaiah Donaldson
Like
Question
1/22/2012 7:04:03 AM
Question, does the customer have any say in defining the overall project
objective? I am asking because when we bid on RFPs the overall objective is
already set. We as a project team will make a decision on how to achieve
that objective. The labor, schedule and materials are part of the objective as
well as allocation of all resources especially shared resources.
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Professor Moretti
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1/22/2012 9:21:46 AM
HI Isaiah:
Isn't the customer one of the main
stakeholders? There is your answer.
Thanks,
OLM
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Ryan Stover
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1/22/2012 2:15:35 PM
I believe I answered this is another post related to my
Subaru Project. The owner of the shop that is working on
my project is the Project Manager and I am the
stakeholder. I own the car and finance the project, the
project manager oversees the project to make sure
follows through as planned.
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Adriana Garcia
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1/22/2012 11:29:40
PM
Yes Professor Moretti,
A stakeholder is a customer as well. The customer is who
says yes or no at the end of the project. The customer
has the money and will make the company profitable no
matter what. The customer is the one who tells everyone
about the quality and performance. So being the
customer is the stakeholder too.
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Matthew Voorhees
1/22/2012 6:35:05 PM
I would say the stakeholders and project manager. This is
because the stakeholders are the ones in the company
putting assets on the line to have the project done in the first
place, and the project manager is the person chosen to be in
charge to assure the success of the project.
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Amber Webb
1/22/2012 1:39:44 PM
I would say the answer has to be project manager and stakeholders. This would
include all of the major parties who would have input to what the major objectives
are.
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#3
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Professor Moretti
1/22/2012 9:30:19 AM
Now, let's regroup for a minute on Risk Identification and the WBS.
First, remember that not doing a thorough WBS is a high risk in
itself! In other words, missing important or critical tasks and work
assignments in the early planning of a project can have a major
impact on the project.
Second, the WBS is a planning process that must be done in concert
with the team, key stakeholders, and the client. The WBS not only
helps identify the risk, but it generates the schedule and resource
assignments as well. You need to include all those who will be
affected by the project in doing the WBS. A generic WBS template is
a good starting point, and then you can add to the template based
on lessons learned in each similar project. This building of the
generic WBS is a sort of "organizational learning," a process of
building your capacity to define the work better and better each
time based on experience.
Third, it is difficult to get through these early WBS steps in the real
world, and that is why we see more and more project management
offices. PMOs help to support project planning and control and
provide templates and project review agendas to make sure Project
Managers do what they are supposed to do. Good risk management
requires support in terms of information systems, best practice,
documentation, software proficiency, and moral support.
Lastly, several of you are doing projects that are not part of large
organizations and therefore you had to build your WBS from
scratch. I realize that this raises issues, since you may not have the
benefit of past WBS and schedule templates to guide you. However,
this can also happen in both large and small corporations depending
on the size, complexity, management, etc.
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Ryan Stover
1/22/2012 2:20:34 PM
"Lastly, several of you are doing projects that are not part of large organizations and
therefore you had to build your WBS from scratch. I realize that this raises issues,
since you may not have the benefit of past WBS and schedule templates to guide you.
However, this can also happen in both large and small corporations depending on the
size, complexity, management, etc."
This is where I feel I benefit with my Subaru project since I am at the last week of
completion on this project. I have been from the beginning initiation phase to risk
analysis, and so on. It really helps you understand what's completely involved in a
project. I believe if I never had this project I wouldn't grasp as much as the
information you are feeding to us. No experience makes it easy to overlook problems
since you never experienced scope creep or a delay in a project.
P.S. Don't go out and drop roughly $40,000 to modify a car, stupid project and risk.
Great experience but pour investment =).
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1/22/2012 5:10:13 PM
It sounds like you risk analysis in the beginning was not done properly.
Probably a bad monetary invetment but eperience wise you will never have
something better than it.
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