Iso 31000 Risk Management Ppt10/14/2021
Reports on Risk, Culture, and PerformanceThe organization reports on risk, culture, and performance at multiple levels and across the entity. Communicates Risk InformationThe organization uses communication channels to support enterprise risk management. Project Risk ManagementIntroduction to Risk ManagementCertified ISO 31000 Risk Manager Training Course ISO 31000 Risk Manager Certification in Doha-ievision.org - IEVISION is PECB Accredited and ISO 31000 Risk Management training and certification course is delivered by industry experts in Doha city in QATAR at a low cost. ISO 31000 seeks to provide a universally recognized standard for Program Risk & Safety ManagementISO 31000. The purpose of ISO 31000:2009 provides a framework and a process for the management of risk that are applicable to any type of organization in public or private sector. International Organization for Standardization (ISO) 31000 is a family of standards relating to risk management.Done The same dedicated team will lead OutlineWhat is Risk?What is Project Risk?Causes of RiskRisk AttitudeRisk OptimizationNeed for Risk ManagementRisk Management ProcessProject Risk ManagementRole of Project ManagerEarlier this year the International Organization for Standardization (ISO) revised their ISO 31000 standard. Consider how youre going to design your risk management framework. Will still review if current process way can be adjusted to adapt to new ISO. Done New ISO 31000:2018 has changes from previous 2009 version.
![]() 31000 Risk Management Ppt How To Conduct RiskThe project manager and the team look at what has happened on the project, the current status of the project and what is yet to come and reassess the potential threats and opportunities. Market share)What capital buffer is the organization ready to invest?11Consider both pros and cons of risk takingWhen threats and opportunities are better understood, risk taking is optimized and managers, in turn, will make more informed business decisionsImproved decision making enables an organization to quickly meet emerging marketplace challengesRisk OptimizationRisks exists the moment the project is conceivedThere needs to be a proactive approach for risk management consistently throughout the project for the project to be successfulRisks must be actively identified and effectively managed at all levels of the organization during entire life of the projectLack of proactive focus on Risk ManagementIncrease the impact of risks that are realized Potentially lead to project failureReactive response to risks result intoThe projects paying heavy penalty in terms of cost, schedule, quality or scopeIncreased rate of project failures13Need for Risk Management14CommunicateCommunicationRisk Management ProcessProject Risk ManagementRisk Management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events and/or to maximize the realization of opportunities.Project Risk Management is an important aspect of project management.Risk management is one of the ten knowledge areas defined in PMBOK.Project risk can be defined as an unforeseen event or activity that can impact the project's progress, result or outcome in a positive or negative way.Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk in a project.15Discussion on uncertainitiesDiscussion on why risks arise1516InitiationClosurePlanningExecutionMonitoring & ControlProject StartProject EndPlan Risk Management : Define how to conduct risk management in the projectIdentify Risk Management: Determine risks that affect the project and document their characteristicsPerform Qualitative Risk Analysis: Prioritize the risks for further analysis or action by assessing their probability of occurrence and impactPerform Quantitative Risk Analysis: Numerically analyze the effect of risks on overall project objectives.Plan Risk Responses: Develop options and action plan to enhance opportunities and reduce threats to project objectivesMonitor & Control Risks: Implement risk response plans, track identified risks, monitor residual risks, identify new risks & evaluate risk process effectivenessProject Risk ManagementThe goal of risk management is to be more proactive and less reactiveA project managers work should not focus on dealing with problems it should focus on preventing them1617Risk Management is iterative process carried out throughout the life of the project.Existing risks need to be assessed and any new risks need to be identified periodically.Risks are identified and managed starting in initiating and are continually kept up-to-date or added to while the project is underway. Quality compromises)What risks will the organization will take on new initiatives? (e.g., new product lines)What risks will the organization will accept on competing objectives? (e.g., gross profit vs. Risks which are threats to project may be accepted if within tolerance limit and are in balance with the rewards.e.g., opting for fast track schedule is a risk taken to achieve a reward created by early completion date.Risk Tolerance Specific Example 10Risk Attitude Key QuestionsWhat risks will the organization accept? (e.g., environment vs. Degree of risk that can be accepted is tolerance. The risk attitudes are driven by perception, tolerances, other biases.
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