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Project Setup and Risk Management Guide

The document outlines key elements of project management, focusing on project governance, launch, and risk management. It emphasizes the importance of accountability, authority, and stakeholder engagement during project setup. Additionally, it discusses risk identification, assessment, and response planning to mitigate potential issues that may arise during the project lifecycle.

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Ahmed Mohamed Mahamoud
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4 views10 pages

Project Setup and Risk Management Guide

The document outlines key elements of project management, focusing on project governance, launch, and risk management. It emphasizes the importance of accountability, authority, and stakeholder engagement during project setup. Additionally, it discusses risk identification, assessment, and response planning to mitigate potential issues that may arise during the project lifecycle.

Uploaded by

Ahmed Mohamed Mahamoud
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Project

Management
PROJECT Funedements
SETUP Module Three
Prof. Thomas Davis
Project Setup

Project governance
Project launch
Risk management
Project Governance

Accountability
Organizational commitment and
accountability
Project advocates
Support network for project manager
Project Governance

Authority
Identify decision making authority of
project manager
Identify other decision makers
Identify procedures to terminate project
Project Board/Project
Sponsor
Includes diverse stakeholders (project board)
Ensures organizational commitment and
accountability
Provides support/advice for project manager
Makes decisions beyond project manager’s
tolerances
Monitors ongoing viability of the project
Launching the Project:
Project Charterr
Purpose and deliverables
High-level project estimates: activities/ schedule/
budget
Tolerances (tied to estimates) and change control
Project risks
Assumptions and constraints
Launching the Project:
Communication
Formally acknowledge the project launch
Introduce stakeholders to project
Ensure stakeholder understanding
Project Risk

What could go wrong?


Local conflict
Scope creep
Financial issues Staff shortages
Risk Management

Risk identification
Risk assessment
-Probability
-Impact
Risk response planning:
avoid/transfer/reduce/accept
Risk monitoring and control
Risk Management Tools

Red flag list: For small projects


Brainstorm to identify risks; review/update
Risk register
Identify risks
Prioritize by probability/impact
Identify risk response for priority risks

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