Manage risks
Purpose
Risk management identifies risks at an early stage and defines measures to ensure project success.
Basic idea
Risks are possible future events that pose a problem if they occur. Project risks concern the course of the project. Operational risks affect the utilization of the project outcomes.
Risks are identified, analyzed, and evaluated. Depending on the significance of a risk, the strategy (e.g. avoidance, reduction, outsourcing, acceptance) and measures for dealing with the risk are defined.
HERMES specific
Risks are managed within the framework of solution development according to the project management plan.
An in-depth risk assessment takes place at the end of each phase under the traditional approach and at the end of each release under the agile approach so that a decision on the release of the next phase or the next release can be made. The effective risks are recorded in the phase or release report and in the project status report, depending on the project.
The risk assessment is recorded in the QA and risk report.
As part of the steer project task, the project sponsor can commission superordinate risk management of the project.
Activities
- Identify risks and group them into risk areas; analyze risks and assess their probability of occurrence and the extent of damage, and document this in the project status report.
- Define the strategy (e.g. avoidance, reduction, outsourcing, acceptance of the risk) for each risk in the project status report and define, commission, and monitor the measures.
- Periodically communicate the assessment of the risk situation to the relevant bodies and persons using the project status report.
Relationships
| Module | Task | Task responsibility | Outcome | Involved in creation of outcome |
|---|---|---|---|---|
| Project management | Manage risks | Project management* | Project status report | Project management*, Project support |
| Project management | Manage risks | Project management* | Project management plan | Project management* |