Risk Identification Techniques

Interview with SME’s (Subject Matter Experts)

BrainstormingDelphi TechniqueNominal Group TechniqueCrawford SlipAnalogyChecklist, forms, and templatesSWOTCause & Effect Diagram

Interview with SME’sSME’s (Subject Matter Experts) Technique

used to inquire about issues related to doubts and other technical characteristics

Process◦Define the SCOPE ◦Use a facilitator◦List of INTERVIEWEES (subject matter

experts)◦Develop the questions◦Send and receive answers◦CONSOLIDATE responses

Delphi TechniqueA way to reach a CONSENSUS of

experts (Interview SME’s (Subject Matter Experts)◦A facilitator uses a QUESTIONNAIRE to get ideas about important risks

◦Responses are summarized, & RECIRCULATED to experts for further comment

Helps reduce bias, & having 1 person have undue influence on the outcome

Delphi Technique cont. Interviews are ANONYMOUS

Used when there may be conflicts or when brainstorming is not recommended

Used to get comments from competitors

SLOW PROCESS

BrainstormingIdentification of many RisksTeam must be availableHighly creativeEncourages TEAMWORKIf NOT adequately executed, it can lead

to “chaos”◦Depends on how good the facilitator is◦Sometimes you get “volume” but not

necessarily depth or quality◦Doesn’t work for introverts

Works better if you go in teams of “2”, and then come back to the group

Brainstorming ProcessDefine the scopeGet a facilitatorGet a list of PARTICIPANTSConduct brainstorming sessionCONSOLIDATE responsesFill up the list with the

identified risks

Nominal Group TechniqueUsed in problem solving sessions to

encourage creative thinkingINDIVIDUAL brainstormingGet the info IN ADVANCEMix of individual and group participationFast and effectiveLessens the “chaos” of brainstormingEach member of the group writes

down his or her ideas, which are then discussed and prioritized one by one by the group

Crawford Slip1920’s, with PIECES OF PAPERUsed to identify many risks in a

short period of timeUse it when you do not have TIME or

ABILITY to discuss ideas, and just want to collect people's thoughts.

Uses a “slip” or “post-it”Individual brainstormingGroup consolidation

AnalogyBased on previous history

◦What risks other similar projects hadReference is neededAvailable information must be

adjusted to the current scenario

Strengths, Weaknesses, Opportunities, Threats

SWOT

SWOT cont.A method used for controlling areas of planning and risk and highlight areas of the project that could be maximized to the benefit of the whole project

◦or individual areas where some competitive advantage may be gained.

It is used to evaluate particular activities of the project in order to optimize their potential as well as to evaluate risks

SWOT cont.Normally performed during the initial project start-up phase so that the elements of the analysis can form the basis of the project plan

Also can be used later in the project IF the project is running into difficulties with scheduling, deliverables or budget and needs to be brought back on track.

Aka Fishbone Diagram

Cause & Effect Diagram(Explanation: Next 2 slides)

Graphically illustrates the relationship between a given OUTCOME and all the FACTORS that influence this outcome.

Specify the effect to be analyzed. The effect can be positive (objectives) or negative (problems). Place it in a box on the right side of the diagram.

Cause & Effect Diagram cont.

List the major categories of the factors that influence the effect being studied. ◦ The “4 Ms” (Methods, Manpower, Materials,

Machinery) or the:◦ “4 Ps” (Policies, Procedures, People, Plant) are

commonly used as a starting point.

Cause & Effect Diagram cont.