It was a great interactive risk management process walk through with real examples. Discussed:
1- Risk Management plan along with its components
2- Risk Identification. Using sticky notes digitally.
3- Qualitative Risk Analysis. Discussed in details Risk Matrix and who aligned it with Enterprise Risk Management.
4- Quantitative Risk Analysis. Discussed schedule, schedule audit, cost estimates and Monte Carlo simulation in considering real example that is ” Digital Risk Management Project”.
5- Risk Responses: What to consider and how to plan a mitigation actions. Discussed Risk Contingency and how to calculate it.
6- Risk Register: Shown risk register with example
7- Risk Communication: Stakeholder Identification, Stakeholder Analysis and communication with them on a priority basis.
8-Risk Mitigation Actions: SMART, avoid ensure and meetings words. Planned Vs Actual.
Last but not the least ” Threat To opportunity”. Develop new type of simplified BowTie with Mitigation actions instead of impacts.