RISK

MANAGEMENT
PROCESS
 RISK - Effect of uncertainty on objectives

uncertainty objectives
effect

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RISK - Effect of uncertainty on objectives

He has to attend a very important sales

meeting tomorrow at 9AM. He has to
get to this meeting on time. If he is late,
the meeting will be cancelled and he will
lose the deal. Value of the deal is 1
million.
Objective = Get to meeting before 9AM,
so the meeting can start at 9AM.

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 RISK - Effect of uncertainty on objectives

Objective = Get to meeting

before 9AM, so the meeting
can start at 9AM.

Home Taxi Train Walk Office

(20min) (50min) (10min)
7:35 am 8:55 am
Total expected journey time under normal circumstances = 80 min
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RISK - Effect of uncertainty on objectives

Objective = Get to meeting

What uncertainties needs to
before 9AM, so the meeting
consider?
can start at 9AM.

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RISK - Effect of uncertainty on objectives

Objective = Get to meeting

What effect could these
before 9AM, so the meeting
uncertainties result? e.g.
can start at 9AM.
potential event + consequences

Event leading from uncertainty

- May wake up late due to faulty alarm clock

Consequences
- May not be ready when the taxi arrives and thus may be delayed. 6
RISK - Effect of uncertainty on objectives

Objective = Get to meeting

What effect could these
before 9AM, so the meeting
uncertainties result? e.g.
can start at 9AM.
potential event + consequences

Event leading from uncertainty

- The taxi did not arrived on time due to faulty problem.

Consequences
- May not be able to get to the meeting. 7
RISK - Effect of uncertainty on objectives

Objective = Get to meeting

What effect could these
before 9AM, so the meeting
uncertainties result? e.g.
can start at 9AM.
potential event + consequences

Event leading from uncertainty

- Train may be delayed due to bad weather.

Consequences
- Will not be able to get to train station on time due to and thus may 8
be delayed.
RISK - Effect of uncertainty on objectives

Objective = Get to meeting

What effect could these
before 9AM, so the meeting
uncertainties result? e.g.
can start at 9AM.
potential event + consequences

Event leading from uncertainty

- Road going to the office is closed.

Consequences
- May take another route going to the office and may take slightly 9
longer.
Uncertainties Effect

Event leading from uncertainty

- May wake up late due to faulty alarm clock.
Consequences
- May not be ready when the taxi arrives and thus may be delayed.

Event leading from uncertainty

- The taxi did not arrived on time due to faulty problem.
Consequences
- CONCLUSION
May not be able to get to the meeting.
Objective = Get to meeting
before 9AM, so the meeting
Event leading from uncertainty can start at 9AM.
- Train may be delayed due to bad weather.
Consequences
- Will not be able to get to train station on time due to and thus may be
delayed.

Event leading from uncertainty

- Road going to the office is closed.
Consequences
- May take another route going to the office and may take slightly longer.
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RISK MANAGEMENT PROCESS

Identification of a risk in one

particular domain.
Planning out the entire
REVIEW + IDENTIFY
IMPROVE management process.
Mapping the manifestations
of the risk, identification of
objectives of risk etc.
Outlining a framework.
OBJECTIVE Designing an analysis of
risks involved at each stage.
Deciding upon the risk
solution/s
PLAN FOR ANALYZE &
ELIMINATION PRIORITIZE

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RISK
IDENTIFICATION
& ASSESSMENT
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THANKS!
Any questions?
Email me at
chestercofino@gmail.com

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