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Assess Risks

Purpose

  • Assess risks to understand potential negative impacts during or after a transition.

  • Use this understanding to recommend actions.

Description

  • Risk Analysis and Management

    • Evaluate risks related to current state, future state, change, change strategy, or tasks.

    • Analyze:

      • Possible consequences

      • Impact

      • Likelihood

      • Time frame

  • Using Risk Collection

    • Input for change strategy.

    • Accept risk if modifying it is more costly than potential loss.

Managing Risks

  • Proceed with change while managing risks to minimize impact on value.

Important Note

  • Positive Risk

    • Opportunities are managed as needs.

    • Risk is for uncertain events with negative outcomes.

Inputs

Business Objectives

  • Future Direction: Identify risks.

Elicitation Results (Confirmed)

  • Stakeholder Perceptions: Understand risks.

Influences

  • Internal and External Factors: Impact on goals.

Potential Value

  • Value Benchmark: Compare risks to value.

Requirements (Prioritized)

  • Risk Influence: Higher requirements affect understanding.

Elements

Unknowns

  • Uncertainty: Estimate impacts.

  • Context: Use past lessons.

Constraints, Assumptions, and Dependencies

  • Risk Management: Handle as risks.

Negative Impact to Value

  • Risk Identification: Assess likelihood and impact.

Risk Tolerance

  • Attitudes: Manage varying levels.

Recommendation

  • Course of Action:

    • Pursue Regardless: Proceed.

    • Risk Reduction: Invest.

    • Benefit Increase: Enhance.

    • Opportunity Management: Optimize.

    • Avoidance: Stop if risks are high.

    • Monitoring: Identify and plan.

Guidelines and Tools

  • Business Analysis Approach: Guides risk analysis.

  • Business Policies: Define decision-making limits.

  • Change Strategy: Plans transition and assesses risks.

  • Current State Description: Contextualizes present risks.

  • Future State Description: Identifies future risks.

  • Identified Risks: Starting point for assessment.

  • Stakeholder Engagement Approach: Identifies impact of forces.

Techniques

  • Brainstorming: Collaborative risk identification.

  • Business Cases: Capture change-related risks.

  • Decision Analysis: Assesses problems.

  • Document Analysis: Identifies risks in existing documents.

  • Financial Analysis: Understands financial risks.

  • Interviews: Gathers stakeholder insights.

  • Lessons Learned: Utilizes past issues as risk foundations.

  • Mind Mapping: Categorizes risks and relationships.

  • Risk Analysis and Management: Identifies and manages risks.

  • Root Cause Analysis: Addresses underlying problems.

  • Survey or Questionnaire: Gathers stakeholder perceptions.

  • Workshops: Engages stakeholders in risk assessment.

Stakeholders

  • Domain Subject Matter Expert: Provides input based on expertise.

  • Implementation Subject Matter Expert: Offers insights into preparation needs.

  • Operational Support: Identifies potential risks and impacts.

  • Project Manager: Manages and mitigates project risks.

  • Regulator: Ensures compliance with laws and regulations.

  • Sponsor: Authorizes and funds change, needing risk understanding.

  • Supplier: Risks may arise from utilizing external suppliers.

  • Tester: Identifies risks from a validation perspective.

Outputs

  • Risk Analysis Results: Understanding of risks and mitigation strategies.

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