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Monday, July 26, 2021

Project Risk Management | update

 CHAPTER 11. PROJECT RISK MANAGEMENT

Frequently Asked Questions (FAQ) 

1. Apa tujuan dari Project Risk Management?

The objectives of project risk management are to increase the probability and/or impact of positive risks and to decrease the probability and/or impact of negative risks, in order to optimize the chances of project success.


2. Apa tujuan dari  Plan Risk Management?

to defining how to conduct risk management activities for a project.

3. Sebutkan elemen dari  risk management plan?

Risk strategy

Methodology

Roles and responsibilities

Funding

Timing

Risk categories


4. Apa tujuan dari Identify risk?

to identifying individual project risks as well as sources of overall project risk, and documenting their characteristics. 


5. Sebutkan tool dan Teknik yang dipakai saat melakukan identify risk?

Expert judgment

Data gathering

Brainstorming

Checklists

Interviews

Data analysis

Root cause analysis

Assumption and constraint analysis

SWOT analysis

Document analysis

Interpersonal and team skills

Facilitation

Prompt lists

Meetings

6. Jelaskan secara singkat Data Analysis (tools yang dipakai) dalam Identify Risk!

Root cause analysis

is typically used to discover the underlying

causes that lead to a problem, and develop preventive action. It can be used to identify threats by starting with a problem statement (for example, the project might be delayed or over budget) and exploring which threats might result in that problem occurring. 

Assumption and constraint analysis


Every project and its project management plan are conceived and developed based on a set of assumptions and within a series of constraints. These are often already incorporated in the scope baseline and project estimates. Assumption and constraint analysis explores the

validity of assumptions and constraints to determine which pose a risk to the project. Threats may be identified from the inaccuracy, instability, inconsistency, or incompleteness of assumptions. Constraints may give rise to opportunities through removing or relaxing a limiting factor that affects the execution of a project or process. 


SWOT analysis


This technique examines the project from each of the strengths, weaknesses, opportunities,

and threats (SWOT) perspectives. For risk identification, it is used to increase the breadth of identified risks by including internally generated risks. The technique starts with the identification of strengths and weaknesses of the organization, focusing on either the project, organization, or the business area in general. SWOT analysis then identifies any opportunities for the project that may arise from strengths, and any threats resulting from

weaknesses. The analysis also examines the degree to which organizational strengths may offset threats and determines if weaknesses might hinder opportunities.


Document analysis


Risks may be identified from a structured review of project documents, including, but not limited to, plans, assumptions, constraints, previous project files, contracts, agreements, and technical documentation. Uncertainty or ambiguity in project documents, as well as

inconsistencies within a document or between different documents, may be indicators of risk on the project.


7. Apa perbedaan Risk Register dan Risk Report?


Risk Register : Contain threat and opportunity


Risk Report : Contain all Risk


8. Sebutkan tujuan dari  Perform Qualitative Risk Analysis?

To  prioritizing individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics. The key benefit of this process is that it focuses efforts on high-priority risks.

 

9. Sebutkan Tools dan Teknik yang dipakai saat melakukan Perform Qualitative Risk Analysis?

Expert judgment

Data gathering

 Interviews

Data analysis

Risk data quality assessment

Risk probability and impact assessment

Assessment of other risk parameters

Interpersonal and team skills

Facilitation

Risk categorization

Data representation

Probability and impact matrix

Hierarchical charts

Meetings

10. Sebutkan tujuan dari Perform Quantitative Risk Analysis?

numerically analyzing the combined effect of identified individual project risks and other sources of uncertainty on overall project objectives.


11. Sebutkan Tools dan Teknik yang dipakai saat melakukan Perform Quantitative Risk Analysis?

Expert judgment

Data gathering

Interviews

Interpersonal and team skills

Facilitation

Representations of uncertainty

Data analysis

Simulation

Sensitivity analysis

Decision tree analysis

Influence diagrams

12. Apa tujuan dari Plan Risk Responses?

To  developing options, selecting strategies, and agreeing on actions to address overall project risk exposure, as well as to treat individual project risks. 


13. Jelaskan tools dan teknik apa saja yang digunakaan untuk melakukan plan risk responses!

Expert judgment

Data gathering

Interviews

Interpersonal and team skills

Facilitation

Strategies for threats

Strategies for opportunities

Contingent response strategies

Strategies for overall project risk

Data analysis

Alternatives analysis

Cost-benefit analysis

 Decision making

Multicriteria decision analysis


14. Apa perbedaan antara Strategies for overall project risk dengan dua strategi sebelumnya?

Overall Risk berisi semua  strategi untuk semua risk. 


15. Kenapa saat melakukan Plan Risk responses ada Changes Request pada outputnya? Dan

apa jenis CR nya (correction, preventive or defect repair)?

Planned risk responses may result in a change request to the cost and schedule

baselines or other components of the project management plan

Preventive

16. Apa yang dimaksud dengan fallback plan, secondary risk, residual risk, dan risk trigger?

fallback plan can be developed for implementation if the selected strategy turns out not to be fully effective or if an accepted risk occurs. 

17. Jelaskan apa tujuan dari Implement Risk Responses!

Implement Risk Responses is the process of implementing agreed-upon risk response plans. 


18. Jelaskan apa yang dimaksud dengan Interpersonal and Team Skill!

Individual behavior

19. Apa tujuan dari Monitor Risk?

to  implementation of agreed-upon risk response plans, tracking identified risks, identifying and analyzing new risks, and evaluating risk process effectiveness throughout the project. 

20. Bagian PMP mana saja yang merupakan input saat Monitor Risk?

21. Jelaskan apa yang dimaksud dengan Technical Performance Analysis!

Technical performance analysis compares technical accomplishments during project execution to the schedule of technical achievement. It requires the definition of objective, quantifiable measures of technical performance, which can be used to compare actual results against targets. Such technical performance measures may include weight, transaction times, number of delivered defects, storage capacity, etc. Deviation can indicate the potential impact of threats or opportunities.


22. Jelaskan pula apa yang dimaksud dengan Reserve Analysis!

Throughout execution of the project, some individual project risks may occur with positive or negative impacts on budget or schedule contingency reserves. Reserve analysis compares the amount of the contingency reserves remaining to the amount of risk remaining at any time in the project in order to determine if the remaining reserve is adequate. This may be communicated using various raphical representations, including a burndown chart.


23. Apa tujuan dilakukan Risk Audit?

Risk audits are a type of audit that may be used to consider the effectiveness of the risk

management process. The project manager is responsible for ensuring that risk audits are performed at an appropriate frequency, as defined in the project’s risk management plan. Risk audits may be included during routine project review meetings or may form part of a risk review meeting, or the team may choose to hold separate risk audit meetings. The format for the risk audit and its objectives should be clearly defined before the audit is conducted.


24. Jelaskan apa yang dimaksud dengan risk thresholds, risk appetide dan risk attitude!

Risk thresholds express the degree of acceptable variation around

a project objective. 


Risk Appetite. The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward.



25. Apa yang dimaksud dengan “known-unknown” dan “unknown-unknown”?

Known-Unknown : Risk sudah diketahui namun amountnya tidak diketahui

Unkown-unkown : risk dan impact belum di ketahui

26. Jelaskan dengan singkat mengenai Data Gathering yang merupakan salah satu tool dalam

Identify Risk!

Brainstorming : To gather idea about risk

Checklist : A checklist is a list of items, actions, or points to be considered. It is often used as a reminder.

Interview :  Interviews should be conducted in an environment of trust and confidentiality to encourage honest and unbiased contributions.


27. Jelaskan apa yang dimaksud dengan Representation of Uncertainty dalam perform

quantitative risk analysis!

Where the duration, cost, or resource requirement for a planned activity is uncertain, the range of possible values can be represented in the model as a probability distribution. This may take several forms. The most commonly used are triangular, normal, lognormal, beta, uniform, or discrete distributions. Care 


28. Jelaskan dengan singkat mengenai Sensitivity Analysis, Decision tree Analysis dan

Influence Diagram saat melakukan perform quantitative risk analysis!

Sensitivity analysis helps to determine which individual project risks or other sources of

uncertainty have the most potential impact on project outcomes.

Decision trees are used to support selection of the best of several alternative courses of

action. 


29. Apa yang dimaksud dengan contingent responses strategies?

Some responses are designed for use only if certain events occur. For some risks, it is appropriate for the project team to make a response plan that will only be executed under certain predefined conditions, if it is believed that there will be sufficient warning to implement the plan. Events that trigger the contingency response, such as missing

intermediate milestones or gaining higher priority with a seller, should be defined and tracked. Risk responses identified using this technique are often called contingency plans or fallback plans and include identified triggering events that set the plans in effect.


30. Apakah perbedaan Project Team Assignment pada Plan Risk Responses dan Manage

Team?


Pada risk response team assignment di gunakan untuk melihat availble team untuk solve risk


New Update 9aug2021:

FAQ Frequently Asked Question PMBOK GUIDE 6th Edition: Chapter 11 PROJECT RISK MANAGEMENT Pertanyaan (silahkan dijawab dan masing2nya merujuk ke halaman berapa di PMBOK): 1. Apa tujuan dari Project Risk Management? Plan Risk Management? The objectives of project risk management are to increase the probability and/or impact of positive risks and to decrease the probability and/or impact of negative risks, in order to optimize the chances of project success. page 395 2. Sebutkan elemen dari risk management plan? Risk strategy. Describes the general approach to managing risk on this project. Methodology. Defines the specific approaches, tools, and data sources that will be used to perform risk management on the project. Roles and responsibilities. Defines the lead, support, and risk management team members for each type of activity described in the risk management plan, and clarifies their responsibilities. Funding. Identifies the funds needed to perform activities related to Project Risk Management. Establishes protocols for the application of contingency and management reserves. Timing. Defines when and how often the Project Risk Management processes will be performed throughout the project life cycle, and establishes risk management activities for inclusion into the project schedule. Risk categories. Provide a means for grouping individual project risks. A common way to structure risk categories is with a risk breakdown structure (RBS), which is a hierarchical representation of potential sources of risk (see example in Figure 11-4). An RBS helps the project team consider the full range of sources from which individual project risks may arise. This can be useful when identifying risks or when categorizing identified risks. The organization may have a generic RBS to be used for all projects, or there may be several RBS frameworks for different types of projects, or the project may develop a tailored RBS. Where an RBS is not used, an organization may use a custom risk categorization framework, which may take the form of a simple list of categories or a structure based on project objectives. Page 405 3. Apa tujuan dari Identify risk? Identify Risks is the process of identifying individual project risks as well as sources of overall project risk, and documenting their characteristics. The key benefit of this process is the documentation of existing individual project risks and the sources of overall project risk. It also brings together information so the project team can respond appropriately to identified risks. page 409

4. Sebutkan tool dan Teknik yang dipakai saat melakukan identify risk?

Expert judgment

Data gathering

Brainstorming

Checklists

Interviews

Data analysis

Root cause analysis

Assumption and constraint analysis

SWOT analysis

Document analysis

Interpersonal and team skills

Facilitation

Prompt lists

Meetings

page 414

5. Jelaskan secara singkat Data Analysis (tools yang dipakai) dalam Identify Risk!

  • Root cause analysis. Root cause analysis (see Section 8.2.2.2) is typically used to discover the underlying causes that lead to a problem, and develop preventive action. It can be used to identify threats by starting with a problem statement (for example, the project might be delayed or over budget) and exploring which threats might result in that problem occurring. The same technique can be used to find opportunities by starting with a benefit statement (for example, early delivery or under budget) and exploring which opportunities might result in that benefit being realized.
  • Assumption and constraint analysis. Every project and its project management plan are conceived and developed based on a set of assumptions and within a series of constraints. These are often already incorporated in the scope baseline and project estimates. Assumption and constraint analysis explores the validity of assumptions and constraints to determine which pose a risk to the project. Threats may be identified from the inaccuracy, instability, inconsistency, or incompleteness of assumptions. Constraints may give rise to opportunities through removing or relaxing a limiting factor that affects the execution of a project or process.
  • SWOT analysis. This technique examines the project from each of the strengths, weaknesses, opportunities, and threats (SWOT) perspectives. For risk identification, it is used to increase the breadth of identified risks by including internally generated risks. The technique starts with the identification of strengths and weaknesses of the organization, focusing on either the project, organization, or the business area in general. SWOT analysis then identifies any opportunities for the project that may arise from strengths, and any threats resulting from weaknesses. The analysis also examines the degree to which organizational strengths may offset threats and determines if weaknesses might hinder opportunities.
  • Document analysis. Described in Section 5.2.2.3. Risks may be identified from a structured review of project documents, including, but not limited to, plans, assumptions, constraints, previous project files, contracts, agreements, and technical documentation. Uncertainty or ambiguity in project documents, as well as inconsistencies within a document or between different documents, may be indicators of risk on the project.

6. Apa perbedaan Risk Register dan Risk Report?

Risk Register : Contain threat and opportunity , captures details of identified individual project risks.

page 417

Risk Report : Contain all Risk, presents information on sources of overall project risk, together with summary information on identified individual project risks

page 418

7. Sebutkan tujuan dari Perform Qualitative Risk Analysis?

Perform Qualitative Risk Analysis is the process of prioritizing individual project risks for further analysis or action

by assessing their probability of occurrence and impact as well as other characteristics. The key benefit of this

process is that it focuses efforts on high-priority risks. This process is performed throughout the project

page 419

8. Apa tujuan dari Plan Risk Responses? teknik apa saja yang digunakaan untuk melakukan

plan risk responses!

Plan Risk Responses is the process of developing options, selecting strategies, and agreeing on actions to address

overall project risk exposure, as well as to treat individual project risks. The key benefit of this process is that it identifies appropriate ways to address overall project risk and individual project risks. This process also allocates resources and inserts activities into project documents and the project management plan as needed

page 437

9. Apa perbedaan antara Strategies for overall project risk dengan dua strategi sebelumnya?

Risk responses should be planned and implemented not only for individual project risks but also to address overall

project risk.

diantaranya:

Avoid.

Exploit.

Transfer/share.

Mitigate/enhance

Accept

page 446


10. Kenapa saat melakukan Plan Risk responses ada Changes Request pada outputnya?

Dan apa jenis CR nya (correction, preventive, or defect repair)?


Karena Planned risk responses may result in a change request to the cost and schedule baselines or other components of the project management plan

page 447

Plan Risk Responses is the process of developing options, selecting strategies, and agreeing on actions to address overall project risk exposure, as well as to treat individual project risks. The key benefit of this process is that it identifies appropriate ways to address overall project risk and individual project risks. This process also allocates resources and inserts activities into project documents and the project management plan as needed. This process is performed throughout the project.


Pagre 437

Jenis CR nya : Preventive

11. Apa yang dimaksud dengan fallback plan, secondary risk, residual risk, dan risk trigger?

Fallback plan can be developed for implementation if the selected strategy turns out not to be fully effective or if an accepted risk occurs. 

page 439

Fallback plans include an alternative set of actions and tasks available in the event that the primary plan needs to be abandoned because of issues, risks, or other causes.


page 706

12. Jelaskan apa tujuan dari Implement Risk Responses!

Implement Risk Responses is the process of implementing agreed-upon risk response plans. The key benefit of

this process is that it ensures that agreed-upon risk responses are executed as planned in order to address overall

project risk exposure, minimize individual project threats, and maximize individual project opportunities. This process is

performed throughout the project.


page 449

13. Jelaskan apa yang dimaksud dengan Interpersonal and Team Skill!

Skills used to effectively lead and interact with team members and other stakeholders.

page 709


Interpersonal and team skills that can be used for this process include but are not limited to influencing. Some risk

response actions may be owned by people outside the immediate project team or who have other competing demands.

page 451



14. Apa tujuan dari Monitor Risk?

Monitor Risks. The process of monitoring the implementation of agreed-upon risk response plans, tracking identified

risks, identifying and analyzing new risks, and evaluating risk process effectiveness throughout the project.


page 711


The key benefit of this process is that it enables project decisions to be based on current information about overall project risk

exposure and individual project risks


page 453


15. Jelaskan apa yang dimaksud dengan Technical Performance Analysis!

Technical performance analysis compares technical accomplishments during project execution to the schedule of technical achievement. It requires the definition of objective, quantifiable measures of technical performance, which can be used to compare actual results against targets. Such technical performance measures may include weight, transaction times, number of delivered defects, storage capacity, etc. Deviation can indicate the potential impact of threats or opportunities.

456

16. Jelaskan pula apa yang dimaksud dengan Reserve Analysis!

Reserve analysis.  Throughout execution of the project, some individual project risks may occur with positive or negative impacts on budget or schedule contingency reserves. Reserve analysis compares the amount of the contingency reserves remaining to the amount of risk remaining at any time in the project in order to determine if the remaining reserve is adequate. This may be communicated using various

graphical representations, including a burndown chart.


page 456

17. Apa tujuan dilakukan Risk Audit?

Risk audits are a type of audit that may be used to consider the effectiveness of the risk

management process. The project manager is responsible for ensuring that risk audits are performed at an appropriate

frequency, as defined in the project’s risk management plan. Risk audits may be included during routine project review

meetings or may form part of a risk review meeting, or the team may choose to hold separate risk audit meetings. The

format for the risk audit and its objectives should be clearly defined before the audit is conducted.

page 456



18. Jelaskan apa yang dimaksud dengan risk thresholds, risk appetide dan risk attitude!

Risk thresholds express the degree of acceptable variation around a project objective. 

page 398

Risk Appetite.  The degree of uncertainty an organization or individual is willing to accept in anticipation of a reward. expressed as measurable risk thresholds around each project objective.

page 407

Risk attitude. Risk that can assist in the selection of the optimal stakeholder engagement strategy mix

page 518


19. Apa yang dimaksud dengan “known-unknown” dan “unknown-unknown”?

Known-Unknown : Risk sudah diketahui namun amountnya tidak diketahui (which may be estimated to account for this unknown amount of rework.)

Unkown-unkown : Risk dan impact belum di ketahui


page 202


20. Jelaskan dengan singkat mengenai Data Gathering yang merupakan salah satu tool dalam Identify Risk!

Brainstorming : To gather idea about risk

Checklist :  A checklist is a list of items, actions, or points to be considered. It is often used as a reminder.

Interview :  Interviews should be conducted in an environment of trust and confidentiality to encourage honest and unbiased contributions.

page 414


21. Apa yang dimaksud dengan contingent responses strategies?


Some responses are designed for use only if certain events occur. For some risks, it is appropriate for the project

team to make a response plan that will only be executed under certain predefined conditions, if it is believed that

there will be sufficient warning to implement the plan. Events that trigger the contingency response, such as missing

intermediate milestones or gaining higher priority with a seller, should be defined and tracked. Risk responses

identified using this technique are often called contingency plans or fallback plans and include identified triggering

events that set the plans in effect.


page 445


22. Apakah perbedaan Project Team Assignment pada Plan Risk Responses dan Manage

Team?

Project Team Assignment - Plan Risk Response

Pada risk response team assignment di gunakan untuk melihat availble team untuk solve risk

Sebagai inputan proses : Project team assignments can show the resources that can be allocated to agreed-upon risk responses.

page 439


Project Team Assignment - Manage Team

Project team assignments identify the team member roles and responsibilities.

page 347


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