Proactive Risk Management Controlling Uncertainty in Product Development

ISBN-10: 1563272652

ISBN-13: 9781563272653

Edition: 2002

Authors: Preston G. Smith, Guy M. Merritt, Roland Smith

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Book details

List price: $47.95
Copyright year: 2002
Publisher: Productivity Press
Publication date: 6/17/2002
Binding: Paperback
Pages: 248
Size: 6.75" wide x 9.75" long x 0.75" tall
Weight: 1.232
Language: English

Preface
Introduction
What Is Risk and How Is It Managed?
Example of Project Risks
Risk Management and Product Development
What Is a Risk?
Uncertainty
Loss
Time Component
Why Companies Fail in Managing Risk
Cross-Functionality
Proactiveness
The Antithesis of Risk Management: Firefighting
How Much Risk Management?
Risk As an Ally
Attitudes toward Risk
Summary
Supplementary Reading
Using Project Risk Models
Standard Risk Model
Simple Risk Model
Cascade Risk Model
Ishikawa Risk Model
Summary
Supplementary Reading
The Risk Management Process
Overview of the Process
Identifying Project Risks
Analyzing Risks
Prioritizing and Mapping Risks
Planning Resolution of Targeted Risks
Monitoring Project Risks
Summary
Supplementary Reading
Step 1--Identifying Project Risks
Plan and Prepare
Assemble a Diversity of Opinion
Verify Risk Management Knowledge and Explain Project Details
Get Participants Thinking Creatively
Start Early--But Not Too Early
Capturing Project Risks
Schedule Based
Development Process Based
Success-Thwarting Based
Prompt-List Based
Facilitating the Session
Balance between Optimism and Pessimism
Running Example
Summary
Supplementary Reading
Step 2--Analyzing Risks
Establish the Facts
Conducting the Workshop
Developing Risk Event Drivers
Developing Impact Drivers
Quantifying Total Loss
Risk Scaling Considerations
Calculate the Risk
Probability Estimation Techniques
Estimate Risk Event Probability
Estimate Risk Impact Probability
Calculate Expected Loss
Working with Differing Units and Qualitative Scales
Running Example
Summary
Supplementary Reading
Step 3--Prioritizing and Mapping Risks
How to Prioritize
Sort Risks by Expected Loss
Develop a Risk Map
Develop a Prioritized List
Communicate the Prioritized List
Running Example
Summary
Supplementary Reading
Step 4--Planning Resolution of Targeted Risks
Risk Resolution Process
Action Planning
Avoidance
Transfer
Redundancy
Mitigation
Mitigation Actions
Prevention Planning
Contingency Planning
Reserves
Balancing Benefits with Cost
Running Example
Summary
Supplementary Reading
Step 5--Monitoring Project Risks
Ongoing Risk Management
Progress on Resolution
Terminating Action Plans for Risks Successfully Resolved
Identifying New Risks
Initiating New Action Plans
Communication
Product Development Team Communication
Risk Management Metrics
Strategic Metrics
Tactical Metrics
Risk Status Trend
Current Risk Status
Active Risk Loss Summations
Active versus Inactive Losses
Running Example--Conclusion
Summary
Supplementary Reading
Risk Management Toolkit
Sticky Density
Sticky Density for Risk Identification
Retrospective Application to Root Causes
General Guidance on the Sticky Density Technique
Spreadsheets
Decision Analysis
Decision Analysis Methodology
Decision Analysis Example
Risk Simulation
Design Structure Matrix
Summary
Supplementary Reading
Risk Management Approaches and Strategies
Avoid Risk When It Does Not Add Value
Stay Flexible on Unresolved Issues
Maintain Contact with Customers
Address the Risky Items First
Apportion Risk Carefully
Test at a Low Level
Use Failure to Your Advantage
Summary
Supplementary Reading
Implementing a Project Risk Management Program Successfully
Fitting Risk Management into Project Management
Build Risk Management into All Project Phases
Provide Data Management Tools
Implementation Guidance
Consider Risk Also As an Opportunity
Train Your People
Make Risk a Concern of Management
Take Potential Problems Seriously
Spare the Messenger
Do Not Let the Engineers Run Project Risk Management
Collect and Publicize Risk Metrics
Jump In
Do Not Oversell Project Risk Management
Continuously Improve Your Implementation
Extract the Learning from Each Project
Summary
Supplementary Reading
Case Studies from Allied Fields
Manufacturing Ramp-Up Case Study
Identify Risk
Analyze Risk
Prioritize and Map Risk
Plan Resolution
Monitor Risk
Embedded Software Development Case Study
Identify Risk
Analyze Risk
Prioritize and Map Risk
Plan Resolution
Monitor Risk
Summary
Supplementary Reading
Glossary
Index
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