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Risk Management
Kannan Subbiah
Director, Operations
Knowledge Universe Technologies India
1
Objectives
Understanding Risk
Risk Management as a process
Exercise
Q&A
What is a Risk?
A risk is ANYTHING that may affect the achievement
of an organizations objectives.
It is the UNCERTAINTY that surrounds future events
and outcomes.
Alternatively
Risk is a potential event with negative consequences that
had not happened yet
Could also be an event with positive consequences
Key Terms
Risk Exposure to chance of hazard
Risk Level A measure to represent the significance of the risk
Controls Action(s) that could eliminate or reduce the risk level
Exercise - I
Think of a risk in your daily life
Determine the probability of occurrence
Make an assessment of an impact, if it occurs.
Who is involved?
Customer
End user
Project Team
Senior Management
Related Project teams
Vendors and suppliers
10
When?
A continuous process
Starts from proposal stage
Ends on project completion
Review stages
Business case analysis
Project approval
Project planning
Technology, Tools & Vendor selection
Project status reviews
Deployment and Maintenance
11
INHERENT
12
A Simple Framework
Step 1
Establish
Objectives
Step 2
Identify
Risks &
Controls
Step 3
Assess
Risks &
Controls
Step 4
Evaluate
& Take
Action
Step 5
Monitor
&
Report
13
SWOT
14
Stra
tegic
Decisions transferring
strategy into action
Prog
ramm
tegic
Stra
m
gra
Pr o
me
Pr o
ject
&O
per
a
tion
al
ject
Pr o
a
per
&O
al
tion
Decisions can be categorized into three types. The amount of risk (uncertainty)
varies with the type of decisions. Most decisions are concerned with
implementation.
15
The HM Treasurys The Orange Book
Risk Environment
External Risk Environment
re L a
gu ws
la &
tio
ns
ial
Political
Outcomes
nc
Fina
St
r
Po ateg
lic ic
y /
Communication
& Learning
Inf
Te orma
ch
no tion
log
y
Assess
rm
ati
on
Human
Resources
e
Th nom
o
Ec
y
LHINs
Op
n
tio
e ra
al
S
ex tak
pe eh
ct o l d
at e
io r
ns
Leg
Com al/
plian
ce
Ot
h
nis er
trie
s
er- s
rtn on
Pa izati
n
ga
Or
l
na
io
a t ce
iz an
a n rn
rg e
O Gov
Communication
& Learning
Ide
n
tify
t
en
ym
Pa ty &
fer bili e
ns nta
c
Tra ccou rnan
A o ve
G
Inf
o
h
is
bl
ta
tor
i
n
Mo
Es
Mi
Internal
MOHLTC
Risk Environment
Evaluate
Capacity
Communication
& Learning
ic n
bl tio
Pu cep
r
Pe
MOHLTC
Extended
Extended
Enterprise
Corporate Governance
Requirements
16
2.
Financial Risk
3.
4.
People / HR Risk
5.
Information/Knowledge Risk
6.
7.
8.
9.
Technology Risk
10.
11.
Privacy Risk
12.
Security Risk
13.
Equity Risk
Slide 17
17
Slide 18
18
Immediate now
Less than 6 months
Between 6-12 months
Between 12 24 months
Between 24 36 months
More than 36 months
19
Risk rating
Combining impact and likelihood
RISK PRIORITIZATION MATRIX
5
RISK
IxL
IMPACT
RISK
IxL
RISK
IxL
1
1
LIKELIHOOD
Slide 20
20
High Risk
Moderate Risk
Low Risk
21
22
Excellent
Strong
Adequate
Weak
24
Exercise II 15 minutes
Identify risks that the cyclists faces in cycling to work.
Report back.
25
Risks
Threats:
Opportunities:
Death
Exercise
Head Injury
Sunlight
Injury
Reputation
Reputation
Financial
Financial
Role model
Environment
Sunburn/frost bite
26
Acknowledgements
Practical approach to Risk Management - by Finance Management Institute,
Toronto Chapter.
Introduction to Risk Management for Outsourcing projects - by Peter Kolb
28
Questions?
29