Program Risks & Opportunities
Keywords:
- Program Risk Management
- Program Opportunity Management
- Product Failure Mode and Effects Analysis
- Monte Carlo Analyses
Background Experience available at Novo Artifact Consulting:
- Responsible for the management of Risks [09]
- Responsible for the management of (schedule recovery, cost-reduction and cost avoidance) Opportunities [21]
- Responsible for the setup and maintenance of Risk and Opportunity Management processes, involving a Program- or Portfolio-wide register, actions management systems and Monte Carlo method, and for the monitoring and control of the adherence to these processes [14] [17] [19] [21]
- Responsible for the incorporation of margins and contingencies to cover risks into Program business cases and baselines [19] [21]
- Contributions to the management and recovery of Issues [14] [19] [21]
The numbers in brackets refer to positions as stated in the CV of Hans-H. Altfeld; it can be downloaded from this site under 'About me'
Typical PDCA Content:
FMEA: Failure Mode and Effects Analysis; PDCA: Plan – Do – Check – Act
- Identification and Assessment of Risks and Opportunities
- Planning and Scheduling of FMEA
- Planning for Monte-Carlo Analysis
- Planning and Scheduling of Mitigation and Enabling Actions
- Implementation of Mitigation and Enabling Actions
- Processing of FMEA Tasks
- Processing of Monte Carlo Tasks
- Check Status of Mitigation and Enabling Actions
- Assessment of Residual Risk
- Assessment of Opportunity materialization
- Assessment of Failure Potential
- Identification of key drivers for Monte Carlo analysis results
- Re-enforcement or Launch of new Mitigation and Enabling Actions
- Alternatively, Acceptance of the Risk or Lack of Opportunity
- Launch of Measures to eliminate or reduce Failure Potential
- Launch of Measures to eliminate or reduce risk potential of Monte Carlo drivers