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A Risk Management Lesson - Implementation, Monitoring, and Conclusion

April 8, 2008 | Author: admin | Filed under: Risk Management, Risk Response & Control

A Risk Management Lesson - Implementation, Monitoring, and Conclusion (#5 in the series A Risk Management Lesson)
By Andy Murray

Implementation

To implement my risk management strategy for protecting my laptop I need to purchase a memory card, purchase/install/test Norton Ghost, buy an armoured case and open up an account with DHL.

The test part of restoring from a back-up is important since you don’t want to find out it doesn’t work after you’ve lost all your data!

Monitoring

Before each trip I should

• Check I’ve backed up my laptop
• Back up data required for immediate use on to my memory card
• Check Home Office and Foreign Office threat levels and guidance
• Check latest airline regulations on hand-luggage
• Check my DHL account is current.

Then DECIDE whether or not to use my normal laptop case or to use the armoured laptop case.

Why?

Because the armoured case is bigger than the hand-luggage size now permissible. That means my laptop will ALWAYS have to go in the hold. And that means I can’t use it at the terminal or in-flight. Which means I’ll be non-productive whilst travelling.

And if after leaving home the threat level increased or an incident happens I can always implement my contingency option - to send it onward/home via DHL.

Conclusion

I’ve used the risk management model provided by PRINCE2™ as a framework for some structured thinking to gain clarity on the options open to me. The analysis only took 10 minutes to complete (needed to research cost of armoured cases, courier costs, likelihood, detection rates, etc).

It enables you to identify the set of impacts and their consequences and then determine responses for each. The strategy you will choose is likely to be a combination of reduction, transference and contingency or it will be prevention/accept. It doesn’t take long, so give it a go.

Andy Murray is a director of Outperform UK Ltd, a management consultancy helping clients improve their bid, project and programme management performance through the practical application of structured methods. Outperform is an Accredited Consulting Organisation (ACO) and is ISO 9001 certified. Andy previously sat on the Executive Committee for Best Practice User Group™ (BPUG™) which represents users on behalf of OGC for their best practice trilogy of PRINCE2™, Managing Successful Programmes (MSP) and Management of Risk (M_o_R®). Andy’s runs a professional blog, PRINCE2:2009 Project, where he shares his thoughts about PRINCE2.

Related Articles

• Creating the Project Scope - Conclusion
• Managing The Project Time - Conclusion
• Risk Management 101: Risk Monitoring
• Managing Testing Resources: Five Suggestions for the Project Manager - Conclusion
• What is Monitoring and Controlling Process Group?

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