KIDS III Project

Risk Management Plan

May 15, 2008

Version 0.5

KIDS Phase III Project Risk Management Plan

PK-12 Integrated Data System

Revision History

Date / Version / Description / Author
May 15 2008 / 0.5 / Initial Draft / Dennis Boston

Reviewers

Name / Title
Mojo Nwokoma / Project Director
Joel Robe / Regional Project Manager
Dennis Boston / Project Manager

Approvers

Name / Title
Doug Kosty / Asst. Superintendent – OAIS, Project Sponsor
Baron Rodriguez / CIO – OAIS
Mojo Nwokoma / Project Director
Dennis Boston / Project Manager

Distribution

Project Team and Stakeholders
This document is distributed from the Project Manager and available for reference at the project website, ode.state.or.us/go/kids.
KIDS Phase III Project Risk Management Plan 15May08v0.5 / Last Saved:10/3/2018 / 1

KIDS Phase III Project Risk Management Plan

PK-12 Integrated Data System

Table of Contents

1Introduction

1.1Purpose

1.2Scope

2Risk Management Approach

2.1Overall Strategy

2.2Roles Definition

2.2.1Project Roles

2.2.2Risk Management Responsibilities

3Risk Assessment

3.1Risk Identification

3.2Risk Analysis

3.2.1Qualitative Risk Analysis Process

3.2.1.1Combined Risk Factor

3.2.1.1.1Probability Factor Table

3.2.1.2Impact Factor Table

3.2.1.3Risk Factor Matrix

3.2.1.4

3.3Risk Response Planning

3.3.1Risk Response Strategies

3.3.1.1Acceptance

3.3.1.2Avoid

3.3.1.3Mitigate

3.3.1.4Transfer

3.3.1.5Exploit

3.3.1.6Share

3.3.1.7Enhance

3.3.2Risk Plan Development

4Risk Monitoring and Control

4.1Risk Tracking

4.2Risk Reporting

5Risk Management Forms

5.1Risk Log – KIDS Phase III Project Risk Analysis Workbook

1

KIDS Phase III Project Risk Management Plan

PK-12 Integrated Data System

Risk Management Plan

1Introduction

This is the Risk Management Plan for the Oregon KIDS Phase III Project: PK-12 Integrated Data System. This plan will be revised as required throughout the project. The Risk Management Plan will be incorporated into and become a formal part of theKIDS Phase III Project’s,Project Management Plan (under development).

1.1Purpose

The purpose of the Risk Management Plan is to describe and document the process for identifying and managing risks associated with the KIDS Phase III Project.

1.2Scope

The scope of this plan includes how to approach, plan and execute the risk management activities of the KIDS Phase III Project.

Key references supporting this plan are on the project website, ode.state.or.us/go/kids:

  • Project Charter
  • Scope Statement
  • Project Management Plan (includes document version control and all sub plans)
  • Project Schedule
  • Training schedules, agendas, and documentation

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KIDS Phase III Project Risk Management Plan

PK-12 Integrated Data System

2Risk Management Approach

2.1Overall Strategy

The overall all strategy for risk management within the KIDS Phase III Project is to identify, analyze, track and report all risks that will potentially have some effect on the project with respect to Project Time, Scope, Cost and Quality. AQualitative Risk Analysis process will be used in the assessment of each risk. Both positive impact risks, known as opportunitiesand negative impact risks will be tracked. Since the KIDS Phase III Project supports the success of external projects (DATA Grant and Longitudinal Growth Model), the project team will routinely identify, analyze, track and report all risks associated with those projects as well.

2.2Roles Definition

2.2.1Project Roles

Name / Organization / Role / Email Address
Doug Kosty / OAIS / Sponsor /
Mojo Nwokoma / OAIS / Project Director /
Joel Robe / OAIS / Regional Project Manager /
Dennis Boston / OAIS / Project Manager /
Nell Klumph / OAIS / QA/QC /

2.2.2Risk Management Responsibilities

Risk Management Activity / Project Sponsor / Project Director / Regional Project Mgr / Project Manager / QA/QC / DQWG – Technology Task Force
Risk Identification / J / J / J / P / J / J
Complete Risk Analysis / S / J / S / P / S / S
Determine Combined Risk Factor and Risk Level / S / J / S / P / S / S
Determine Risk Strategy / S / J / S / P / S / S
Document Risk Plan to Support Strategy / S / J / J / P / S / S
Risk Tracking / S / S / S / P / S / S
Risk Reporting / S / J / S / P / S / S
Legend
J = Joint/Shared Responsibility
P = Primary/Lead Responsibility
S = Support/Participatory Responsibility

3Risk Assessment

3.1Risk Identification

Risk Identification happens on a continuous basis throughout the life of a project. There should be an initial brainstorming session with key project stakeholders to identify project associated risks and opportunities as early on in the project life cycle as possible. Once risks are identified they will be analyzed, prioritized, tracked and reported on.

3.2Risk Analysis

Utilizing the Qualitative Risk Analysis Process, all risks/opportunities will be analyzed individually on their likelihood of happening (probability) and their impact on project Time, Scope, Cost and Quality. This process can be completed either manually or by utilizing the Qual Risk Analysis worksheet in the KIDS Phase III Project Risk Workbook.

3.2.1Qualitative Risk Analysis Process

This process will calculate a combined risk factor that will then be used to prioritize the risks in relation to each other.

3.2.1.1Combined Risk Factor

Calculating the Combined Risk Factoris done by utilizing the following; Probability Factor Table, Impact Factor Table, Risk Factor Matrix. The tables/matrices are shown below for reference. A step by step example is given in section 3.2.1.4 Calculating Combined Risk Factor.

3.2.1.1.1Probability Factor Table

This table will be used to identify the probability factor of how likely a particular risk will occur.

Probability Factor Table – How likely is the risk to occur
Probability Factor / Description
0.1 / Unlikely to occur
0.3 / May occasionally occur
0.5 / Is as likely as not to occur
0.7 / Is likely to occur
0.9 / Is almost certain to occur
NI / Impossible to determine probability with the current information. Need more information from an outside source. Consider 0.9 probability (risk), 0.1 probability (opportunity) until information becomes available.
TBD / Additional study is required. Consider 0.9 probability(risk), 0.1 probability (opportunity) until study can be completed.

3.2.1.1.2Impact Factor Table

This table will be used to identify the impact factor a particular risk will have if it becomes an issue.

Impact Factor Table – What will happen if the risk becomes an issue
Impact Factor / Description
0.1 / Negligible impact
0.3 / Minor impact
0.5 / Notable impact
0.7 / Substantial impact
0.9 / Threatens/Significantly Enhances success of the project
NI / Impossible to determine impact with the current information. Need more information from an outside source. Consider 0.9 impact (risk), 0.1 probability (opportunity) until information becomes available.
TBD / Additional study is required. Consider 0.9 impact (risk), 0.1 probability (opportunity) until study can be completed.

3.2.1.1.3Risk Factor Matrix

This matrix will be used to identify the risk factor, for project time, scope and cost, by utilizing the probability and impact factors for each.

Risk Factor Matrix
Probability Factor
Impact
Factor / 0.1 / 0.3 / 0.5 / 0.7 / 0.9
0.1 / 0.130 / 0.212 / 0.266 / 0.308 / 0.345
0.3 / 0.212 / 0.345 / 0.432 / 0.501 / 0.560
0.5 / 0.266 / 0.432 / 0.541 / 0.628 / 0.702
0.7 / 0.308 / 0.501 / 0.628 / 0.729 / 0.815
0.9 / 0.345 / 0.560 / 0.702 / 0.815 / .911

3.2.1.1.4Risk Level Table

This table determines risk level (Low, Medium or High) for a corresponding combined risk factor.

Risk Level Table
Combined RiskFactorRange / Risk Level
0.000 to 0.3333 / Low
0.3334 to 0.6666 / Medium
0.6667 to 1.000 / High

3.2.1.2Calculating Combined Risk Factor

In order to calculate a combined risk factor for a single risk you can utilize the Qual Risk Analysis worksheet in the KIDS Phase III Project Risk Workbook, or utilizing the tables above you can complete it manually.

  1. Utilizing the Probability Factor Table determine the level of likelihood that the risk will take place, record the appropriate factor value
  2. Utilizing the Impact Factor Table determine the impact the risk will have of Project Time, Scope, Cost and Quality (one value for each category), record the 4 impact factors
  3. Calculate and record a risk factor for each category [(P * I)^.4425]
  4. Average the risk factors to determine the combined risk factor for the risk [(TRF+SRF+CRF+QRF)/4]
  5. Look up combined risk factor in the Risk Level Table
  6. Record the Combined Risk Factor and Risk Level on the Risk Log for that risk

3.2.1.2.1Combined Risk Factor Example

(This example is shown on line 1 of the Risk Log)

Risk: Project Staffing
Category / Probability Factor / Impact Factor / Risk Factor
Time / 0.3 / 0.5 / 0.432
Scope / 0.3 / 0.1 / 0.212
Cost / 0.3 / 0.7 / 0.501
Quality / 0.3 / 0.3 / 0.345
Combined Risk Factor / 0.3724

3.3Risk Response Planning

3.3.1Risk Response Strategies

The following strategies will be utilized to determine how the project team will handle each risk. Once the strategy is identified, it will be recorded on the Risk Log.

3.3.1.1Acceptance

The Project Team has decided not to alter the project to avoid the risk or felt there were no alternatives in dealing with the risk. This strategy can be applied to risks that pose both negative and positive effects on the project.

3.3.1.2Avoid

The Project Team has decided to change the appropriate project plan so that the risk can be avoided. This strategy would be applied on to those risks that would have a negative effect on the project.

3.3.1.3Mitigate

The Project Team has decided to take additional steps in order to lessen the risk to the project. This strategy would be applied on to those risks that would have a negative effect on the project.

3.3.1.4Transfer

The Project Team has decided to move the risk from the project team to a third party that will own the risk and the response. This action does not eliminate the risk. This strategy would be applied on to those risks that would have a negative effect on the project.

3.3.1.5Exploit

The Project Team has decided to take full advantage of this opportunity. While risk is uncertain, this strategy is being used to make the likelihood of the risk increase so that the project team can capitalize on the results. This strategy would be applied on to those risks that would have a positive effect on the project.

3.3.1.6Share

The Project Team has decided to share the opportunities that the risk represents with a third party. This strategy would be applied on to those risks that would have a positive effect on the project.

3.3.1.7Enhance

The Project Team has decided to work in increase the impact of the risk on the project as well as increasing the likelihood that the opportunity will happen. This strategy would be applied on to those risks that would have a positive effect on the project.

3.3.2Risk Plan Development

A Risk Plan will be developed for each identified risk. This plan will be developed based on the determined Combined Risk Factor, Risk Level and Risk Strategy. Risk plans are updated on an as needed basis according to changes in Combined Risk Factor, Risk Level and Risk Strategy.

4Risk Monitoring and Control

4.1Risk Tracking

Project risks will be tracked using the Risk Log in the KIDS Phase III Project Risk Workbook. This workbook will be posted to the project folders at [insert link to project folders].

4.2Risk Reporting

Risk reporting will be accomplished in the following three ways:

  1. including a summary (narrative) review of the project’s risks in weekly status reports
  2. including a summary review and a copy of the Risk Log worksheet from the KIDS Phase III Project’s Risk Workbook in the project’s monthly progress reviews
  3. presenting the Risk Log worksheet from the KIDS Phase III Project’s Risk Analysis workbook to the DQWG Technology Task Force monthly meetings

5Risk Management Forms

5.1Risk Log – KIDS Phase III Project Risk Workbook

RISK ANALYSIS – Risk Log
Project Name: / KIDS Phase III / Oregon Department of Education
Project Manager: / Dennis Boston / KIDS Phase III Project
Revision Date: / 3/24/2008 / PK-12 Integrated Data System
Number / Risk / Level / Currently Assigned / Risk Strategy / Risk Plan
1
2
3
4
5
6
7
8
9
10
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