Methodology essay paper

Methodology

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Program Risk Management Plan
for

[Program] Methodology

[Program Manager]

Table of Contents

[How to Use this template – This template includes all the required sections for the program risk management plan with sample wording. The program manager will complete this plan and then delete any text shown in [ ]s. Additional sections can be added to the program risk management plan as deemed necessary by the program manager.]

Program Risk Process Methodology

The [program name] Risk Management process includes identifying, assessing, monitoring, risk response planning and implementation (mitigation and contingency planning) and closing risks. Risks will be evaluated against the program metrics. To begin the program risk management process for this program, the program manager will create program metrics and review them with the project managers in the program. Once the metrics are established, risk identification will begin. Methodology

The begin program risk identification each project manager will provide the program manager with the project risk register for evaluation of all the project risks to the program metrics. Next, the program manager will brainstorm potential risks to the program based on the metrics. The program manager will then create a risk register for review by the program’s project managers. The risk register will follow the template provided on the Project Management Knowledge Base. The program manager owns the assessment, monitoring, mitigation, and contingency activities of these risks.

[Include this paragraph if the optional project identification and assessment process was used on any of the program’s projects.]
Project managers have the option to perform a risk identification and assessment process, recommended for large projects, that includes interviews with project team members. For this program, we have chosen to complete that process for [some / all] of our projects. This process results in a report that is another source for risk identification for this program. The reports created will be reviewed by the program manager for program risk identification.

Finally, the program manager will review the risk register on at least a monthly basis to ensure mitigation plans are effective. The program manager will make necessary changes to the risk register at the program status meetings, including changes to impact and likelihood, mitigation strategy, contingency plans, and close risk as required. Once the program is completed, the program manager will close all individual risks and the risk register. The program manager owns the assessment, monitoring, mitigation, and contingency planning of these risks.Methodology

Budgeting

This program will require funding for risk management for:
 Travel to XXX to perform risk interviews and mitigation,
 Contingency funds,
 Reason 3
The expected cost is $nnnn.nn.

[If there is no specific funding required for risk management, delete this section.]

Risk Register Scoring and Interpretation

Risks will be scored on a scale of 1-5 in two areas, impact and likelihood. The impact score reflects the impact to the category of the risks based on program metrics. For example, recommended instrument metrics are research knowledge base, program delivery, community satisfaction, public outreach, and quality. Likelihood reflects the probability that the risk will be realized. This program will use the following scales for rating impact and likelihood of risks.
[The program manager can adjust the numbers and categories below according to stakeholder risk tolerances.]

Impact

4-5 (High)
User experience – satisfaction unlikely
Integrated data < 10%
Security > nn events expected
Program delivery (schedule slip) > 10%
Quality guidelines will not be met

3 (Medium)
User experience – satisfaction questionable
Integrated data < 30%
Security > nn events
Program delivery (schedule slip) > 5%
Some quality guidelines will not be met

1-2 (High)
User experience – satisfaction likely but work-arounds required
Integrated data > 70%
Security < nn events
Program delivery (schedule slip) > 1%
Most quality guidelines will be met

Likelihood

4-5 (High)
Realization of this risk is inevitable. Risk mitigation is weak; there is minimal to no effective contingency plan.

3-4 (Moderate)
Realization of the risk is likely. Risk mitigation does not cover all areas of the risk; contingency plan is inadequate.

1-2 (Low)
Realization of the risk is unlikely but still possible. Mitigation plan is strong, contingency plan is effective.

Mitigation and Contingency Plans

The program manager will include mitigation and contingency plans, with an effectiveness rating on the mitigation plans, in the program risk register. Contingency plans will be outlined as soon as the risk is identified and not delayed until the risk is realized.

If a risk is realized the program manager will ensure that the appropriate contingency plan is activated. The exact steps will depend on the contingency plan.

Reporting Formats

The program manager will create the risk register and ensure that the register is available on the program team site found in the Project Management Knowledge Base. The program manager will include the status of the medium and high risk on the periodic program status report. The program manager will also report all medium and high risks to the division associate director.

Timing

The risk register will be kept on the Project Management Knowledge Base in the program site and kept up to date by the program manager. All team members and sponsor(s) will have access to the register. All stakeholders with comments and concerns should forward them to the appropriate team leads and the program manager.

Training

Any program team member needing risk management training will be directed to the online training on the Project Management Knowledge Base. If more in-depth training is required, the team member’s manager will be notified and will work with the team member to obtain the training externally.

Roles and Responsibilities