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Category: Risk

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Risk Register – Doodle

RIsk Register – Doodle, a Visual illustration! How? he Risk Register, risk log, a repository to record, analyze and store risk data. According to IRM’s A Risk Practitioners Guide to ISO 31000: 2018: “The nature and extent of communication of the information contained in the risk register throughout the risk architecture of the organization also […]
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Schedule and cost estimates after creating mind map

Risk Management with Mind Maps

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 […]
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Big Picture- Decision Tree 5 by www.gleeym.com

Decisive Decision Making for Digital Risk Management (DRM) – A Headway to Digital Transformation

Digital Transformation Aligning resources to remain competitive and meeting strategic goals are cumbersome in this era of “Digital Transformation”. Digital transformation is reshaping the corporate world. Pursuing the digitizing requires a sense of urgency, change management agents, and the ability to choose the optimal decision based on the data. Decision making requires Data as input and presenting data in […]
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Integrated Cost and Schedule Risk Analysis (IRA). Why? 5 visuals explain it!

Summary In Oil & Gas industry projects are always complex whether onshore or offshore. Remote locations, site access, communities, resources constraints and long lead items (LLI), etc. can be challenging to execute the project. Performed schedule and cost risk analysis with uncertainty using Monte Carlo simulation for Condensate Process and Storage Facility Project.  Even developing […]
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Illustrated Infograpgics

Planning and Implementing EPPM for PMO using Mind Mapping. How? 1 Picture Illustrates

Planning and Implementation of EPPM for PMO using Mind Mapping. How? 1 Picture Illustrates A Digital Transformation program with intensive change management initiative to digitize PMO. Used methodology of MindMapping for planning and facilitating workshops with Stakeholders. Enterprise level Software Implementation Project Management using MindMap – Digital transformation project. Facilitated the workshop with key stakeholders […]
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Decision Tree Analysis for Making Decision Under Uncertainty

Why Decision Tree Analysis? Product Development: Before discussing anything on product development let us discuss what is the product? Precisely, a product is ‘Any Thing or Things produced’. More precisely, as per engineering and manufacturing perspective, products are purchased as a raw material and sold as finished goods. In a real world, Product can be tangible or intangible. […]
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How to Perform PERT Analysis Manually

One – Point estimation reflects one value per activity. It is based on expert judgement, experience, expert opinion or historical information. Fear of padding is always a major concern with one-point estimation. Also, it does not reflect risk or uncertainty associated to schedule or cost estimation. Therefore, Three-point (3) estimation is preferred for activity duration […]
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GAs TimeScaled Data

Quantitative Cost and schedule Risk (QCRA, QSRA) Modelling of Weather event.

Introduction Tough, rigid, and uncertain conditions ground and environmental conditions in a remote location can be treacherous. Weather calamity can be a known-unknown or unknown – unknown event with huge impact. Generally, quantitative cost & schedule and Cost (QSRA & QCRA) model are developed for catastrophic events like Hurricane, Tornado and flood etc. Case Study […]
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Risk Register dashboard infographics, developed by Gleeym. www.gleeym.com

COMMUNICATE WITH RISK REGISTER

This is article is on RISK Register. It is equally applicable to Portfolio, program, project and ERM etc. Throughout the article for the simplicity Risk Register is referred to Projects only. Key Words Risk identification, Risk communication, risk assessment, risk evaluation, risk meta-language, Qualitative Risk Analysis, Risk , Causes, Causation, Schedule, Cost, quality, Risk score, […]
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Digital World, 2nd machine age

Digital Risk Analysis using Monte Carlo Simulation using Monte Carlo Simulation (MCS)

Questions: What is Digital Risk Management? Why Schedule for Agile environment? How Monte Carlos Simulation will help to answer the question and concerns of key stakeholders. Digital World: Digital electronics provides the basis for fourth industrial revolution or second (2nd) machine age. It is evolving and following “Morse Law” and expanding exponentially. Computing power is also growing substantially to provide support in planning, […]
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