Developing a Risk Register by Derek Hendrikz
-
Upload
derek-hendrikz -
Category
Business
-
view
266 -
download
2
description
Transcript of Developing a Risk Register by Derek Hendrikz
![Page 2: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/2.jpg)
Copyright © 2014
Derek Hendrikz Consulting
www.derekhendrikz.com
![Page 3: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/3.jpg)
BEFORE DEVELOPING THE RISK REGISTER, ONE HAS TO ANALYSE THE RISK:
• EVENT: WHAT COULD HAPPEN?
• PROBABILITY: HOW LIKELY IS IT TO HAPPEN?
• IMPACT: HOW BAD WILL IT BE IF IT
HAPPENS?
• MITIGATION: HOW CAN WE REDUCE THE
PROBABILITY?
• CONTINGENCY: HOW CAN WE REDUCE THE
IMPACT?
www.derekhendrikz.com
![Page 4: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/4.jpg)
CODING PROBABILITY:HIGH (H): EXHIBITS THE HIGH RISK CUE(S), HAS HAPPENED
FREQUENTLY, HAS VERY SIGNIFICANT CHANCE OF
HAPPENING IN THE FUTURE.
MEDIUM (M): HAS HAPPENED OCCASIONALLY OR HAS REASONABLE
BUT NOT COMPLETELY EXPECTED CHANCE OF
HAPPENING IN FUTURE.
LOW (L): HAS HAPPENED VERY INFREQUENTLY OR IS EXPECTED
NOT TO HAPPEN EXCEPT INFREQUENTLY.
NOT APPLICABLE (NA): THIS RISK IS IRRELEVANT TO THE PROJECT OR
OPERATION.
NEED INFORMATION (NI): IMPOSSIBLE TO DETERMINE PROBABILITY WITH
CURRENT AVAILABLE INFORMATION.
TO BE DETERMINED (TBD): ADDITIONAL STUDY IS REQUIRED.www.derekhendrikz.com
![Page 5: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/5.jpg)
CODING IMPACT:
HIGH (H): MAJOR IMPACT ON THE SYSTEM AND LIKELY TO CAUSE SIGNIFICANT DISRUPTION IN SERVICE, A VERY VISIBLE EVENT.
MEDIUM (M): SOME IMPACT ON THE SYSTEM AND WILL BE VISIBLE TO A NUMBER OF USERS. A POSSIBLE DISRUPTION IN SERVICE FOR SOME NON-CRITICAL USERS IS EXPECTED.
LOW (L): NON-SERVICE DISRUPTION OR NEGATIVE EFFECTS ARE EXPECTED. ANY NEGATIVE IMPACT CAN BE CORRECTED WITHOUT SIGNIFICANT EFFORT VISIBLY.
NOT APPLICABLE (NA): THIS RISK IS IRRELEVANT TO THE PROJECT OR OPERATION.
NEED INFORMATION (NI): IMPOSSIBLE TO DETERMINE PROBABILITY WITH CURRENT AVAILABLE INFORMATION.
TO BE DETERMINED (TBD): ADDITIONAL STUDY IS REQUIRED.
www.derekhendrikz.com
![Page 6: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/6.jpg)
DEVELOPING THE RISK MANAGEMENT PLANwww.derekhendrikz.com
![Page 7: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/7.jpg)
1. UNDERSTAND THE RISK
www.derekhendrikz.com
![Page 8: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/8.jpg)
2. DEFINE THE RISK
www.derekhendrikz.com
![Page 10: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/10.jpg)
4. UNDERSTAND CONSEQUENCES
www.derekhendrikz.com
![Page 11: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/11.jpg)
5. ELIMINATE ISSUES
www.derekhendrikz.com
![Page 12: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/12.jpg)
6. ASSIGN PROBABILITY
www.derekhendrikz.com
![Page 14: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/14.jpg)
8. COMPUTE TOTAL RISK
www.derekhendrikz.com
![Page 15: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/15.jpg)
9. DEVELOP MITIGATION
www.derekhendrikz.com
![Page 16: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/16.jpg)
10. DEVELOP CONTINGENCY
www.derekhendrikz.com
![Page 19: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/19.jpg)
TIPS IN DEVELOPING THE RISK MANAGEMENT PLAN:
PLAN FOR CHANGE.
ALWAYS INVESTIGATE.
USE SPREADSHEET TO KEEP TRACK
OF THE RISK PLAN ON A ONGOING
BASIS.
DEVELOP RISK TRIGGERS (EARLY
WARNING SIGNALS).www.derekhendrikz.com
![Page 20: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/20.jpg)
WARNINGS WHEN DEVELOPING THE RISK MANAGEMENT PLAN…
RISK MANAGEMENT MUST NOT
OVERSHADOW THE WORK THAT MUST BE
DONE (NO RISK = NO RETURN).
DO NOT IGNORE LOW RISK ITEMS
COMPLETELY, BUT ALSO DO NOT SPEND TO
MUCH TIME ON THEM.
DO NOT ASSUME THAT YOU HAVE ALL THE
RISKS IDENTIFIED.
DO NOT LET POLITICS INTERFERE WITH YOUR
ASSESSMENT.
CONSIDER WHAT MIGHT HAPPEN IF MORE
THAN ONE THING GOES WRONG AT THE SAME
TIME.
www.derekhendrikz.com
![Page 21: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/21.jpg)
FAILURE MODE AND EFFECTS ANALYSIS (FMEA):
IMPACT X PROBABILITY X DETECTION
= RISK VALUE
www.derekhendrikz.com
![Page 22: Developing a Risk Register by Derek Hendrikz](https://reader035.fdocuments.us/reader035/viewer/2022062404/554c58deb4c9053e308b4dee/html5/thumbnails/22.jpg)
3 basic formulas for risk analysis…
• RISK = PROBABILITY X IMPACT
(SCALE OF THE THREAT)
• REDUCTION = MITIGATION X CONTINGENCY
(ABILITY TO MANAGE THE THREAT)
• EXPOSURE = RISK – REDUCTION
(THE AMOUNT OF RISK THAT YOU SIMPLY CANNOT AVOID)
www.derekhendrikz.com