Risk Definition will include sorting out all the threats and the opportunities that will surround the project during the development stages. There will be standard risks that will be addressed to the project risk register in addition to the specific risks that will remark the project's nature and type.
Risk Evaluation is the stage where I will develop a comprehensive risk register to te project. after sorting out the project risks, we will come to evaluation each risk from likelihood and impact. I will use standard matrix to set up the risk threshold to prioritize the severity of each risk.
Quantitative Risk analysis shall be conducted to your project's Risk. This step will aim to record numerical impact of the risk on your project schedule and total cost. I will use Risk analysis software such as Primavera Risk Analysis and Safran to run the risk simulation and You will receive comprehensive risk assessment accordingly.
I will Work With you through all the risk management process. I define your project risks, do the necessary analysis, suggest mitigation action and I will update and maintain your project risk register.
My Risk Works
Qualitative Risk Analysis
Qualitative risk analysis involves identifying threats (or opportunities), how likely they are to happen, and the potential impacts if they do. The results are typically shown using a Probability/Impact ranking matrix. This type of analysis will also categorize risks, either by source or effect. I will Work to develop your Risk Register that will include all needed qualitative Risk Analysis.
Quantitative Risk Analysis
A quantitative assessment is a risk analysis performed with a focus on numerical values of the risks present. The quantitative risk analysis allows you to determine the potential risk of a project. This can help you decide if a project is worth pursuing. I will use Primavera Risk Analysis and Safran to conduct all quantitative risk analysis
Risk Probability Assessment
Risk Probability is the determination of the likelihood of a risk occurring. This likelihood can be based on historical project information, or come from interviews or meetings with individuals who would have knowledge of the probability of risks occurring. I will work with you in both scenarios, I will provide your with the standard risks as per my experience, however, I will be conducting several workshop with you and your team to dig further into your project's risk probabilities
Risk Impact Assessment
Risk Severity (also called Risk Impact) is the expected harm or adverse effect that may occur due to exposure to the Risk. In other words, it measures how bad things could get if a particular Risk materializes. Through out the project's I will work with you to assess the risks impact (Cost Time) to see in numerical analysis the project impacted schedule and impacted cost.
Risk Evaluation Matrix and risk factor.
The combination of probability and Impact factors will generates a Risk Factor for each of the project's risk event, this factor will be used to prioritize the project’s list of risks.
We are going to use a calculation of each risk event’s risk factor that gives the same weight to severity and likelihood by a proportion of 1 to 1. That is, the following formula has been applied:
Risk Factor = Severity x Probability
The Project Risk Register
The Project risk register is the container in where we are going to process all the risk management procedure. In this risk register, the 4 main section of risk management can be coexisted; Risk Identification , Risk Assessment, Risk Response, Risk Action., and under each one of these section, one, or more columns are allocated to breakdown each section into more meaningful analysis.