This is from a webinar presented by Embry-Riddle Aeronautical University-Worldwide called “Risk Management: A Key Success Factor.” The presenter is Dr. Tracey Richardson.
1. Thank you for joining the Embry-Riddle Aeronautical University Webinar!
“Risk Management: A Key Success Factor”
with Dr. Tracey Richardson
The session will begin at 12:15 p.m. Eastern Time
(GMT-4)
11:15 p.m. Central Time/9:15 a.m. Pacific Time
2. A few session pointers
• We will use the text chat for questions
• You can interact with icons
• You control the size of your screen
• Emails will be provided at the end
• A link to the recording will be emailed to you
3. Today’s Agenda
• Introductions
• Presentation by Dr. Tracey Richardson
• Questions and Answers
• Embry-Riddle Technical Management and
Project Management Degree Programs
4. Dr. Tracey M. Richardson
• Assistant Professor
College of Business
ERAU - Worldwide
• Organizational Leadership Doctorate - Argosy
University
• M.S. in Management & B.S. in Resource
Management - Troy University
• Retired USAF Aircraft Maintenance Officer (20+
years) and owns a real estate business
5. Risk Management:
A Key Success Factor
Dr. Tracey M. Richardson
Project Management Institute – Risk Management Professional
Project Management Professional
6.
7.
8. • Risk Management. Where do we start?
– We have to first know what it means, know what
it looks like, know the tools, and have
accountability in our processes.
9. • Risk Management. Where do we start?
– We have to first know what it means, know what
it looks like, know the tools, and have
accountability in our processes.
Goal of this webinar?
10. • Risk Management. Where do we start?
– We have to first know what it means, know what
it looks like, know the tools, and have
accountability in our processes.
Goal of this webinar?
11. Risk Management Process
• Risk
– An uncertain event that, if it occurs, has a positive or
negative effect on project objectives
13. Risk Management Process
• Risk
– An uncertain event that, if it occurs, has a positive or
negative effect on project objectives
• Risk Management
– A proactive attempt to recognize and manage internal
events and external threats that affect the likelihood of a
project’s success
• What can go wrong (risk event)
• How to minimize the risk event’s impact (consequences)
• What can be done before an event occurs (anticipation)
• What to do when an event occurs (contingency plans)
19. Example of Risk Register
Risk # Risk Category Risk Description
Risk Probability
(High/
Medium/
Low)
Risk Impact
(High/
Medium/
Low)
Mitigation Plan
(See Risk Breakdown
Structure for Description)
Risk
Owner
Status
A3481 Budget
The Engineering group is 200K over
budget on the project. Medium High
Project will receive special funding grant of
300K to mitigate this overage. The grant was
approved by VP J. Smith already Fred Active
J4372 Schedule Phase 2 late by more than two weeks. High High 05.02.02.01 George Future
E0062 Economy Interest rates become greater than 6% Low High
Transfer Risk to the Finance department who
will absorb additional costs Sam Past
23. • Risk Management. Where do we start?
We have to first know what it means, know what it
looks like, know the tools, and have accountability
in our processes.
29. Dr. Tracey M. Richardson
Tracey.richardson@erau.edu
Project Management Institute – Risk Management Professional
Project Management Professional
~~~~
Bill Gibbs
bill.gibbs@erau.edu
