ICT Business Cases are often submitted with probabilities that have no more rigour behind them than someone sticking a finger in the air (e.g. P50 or P80).
Business Cases are often presented with no real understanding of their likelihood of succeeding.
Project Sponsor Groups and Project Sponsors end up allocating resources to projects with no real understanding of the likelihood of success.
At ALB Consulting, we help you assess your project's risk. We help you assess your project risk through the lenses of the 5 Cases model including the Strategic case, the Economic case, the Commercial case, the Financial case and the Managerial case.
And then we help you review your cost estimates to extract the task level variance..
Once we've worked with you to understand your task level variance, we use our Monte Carlo Simulation Software to run the thousands of simulations required to derive your project's probability of success.
We work with you to help you assess your project against industry benchmarks and best practice to determine a recommended risk management approach. We do this by:
Assess the unique risk management needs of your project. Then we help you translate how those needs inform your risk management approach.
Using our Analytical Hierarchy Process tool we help you determine priorities of your project's various project objectives. Then we help you determine how the varied priorities of the project objectives inform your risk management approach.
Once we have that information, we will work with you to determine the risk management approach that is most appropriate for your project. We help you define the "what", "how", "who", "why", "when", "where" and "how much" of risk management for your project.
As an output of this collaborative work, we work with you to produce a risk management plan document optimised for you.r project
4. SUBSEQUENT RISK IDENTIFICATION, REANALYSIS AND TREND REPORTING
Projects are Dynamic environments. Things change in projects, and they change quickly. The risks you initially identified might suddenly magnify exponentially. Or they might fade into insignificance. And new risks might emerge.
Regardless of the change in your risk profile, it is important that you maintain consistency in how you assess and manage risks.. You need to make sure that each time that you report on risks that you are using the same metrics.
That's where we come in. We use standardised methods and metrics to ensure that the risk introduced by the change in your project is assessed rationally and accurately.
If we weren't involved in your initial risk assessment, we perform a risk retrospective assessment to ensure that we are assessing and measuring risk using the same yardstick throughout your project.