Risk Register Mitigation Plan
- Created
- 2
- 5
Hi all:
I am working three weeks ago on risk analysis by using ORACLE Primavera Risk Analysis , and i have finished three tutorials till I reach to Risk Register ,in that one I got some questions and I seek pp help ;
What the benefits behind of entering Qualitative / Quantitative Pre-Mitigation, Mitigation and Post- Mitigation of risks? And what is the chain between them?
I mean , when I am putting the data for each expected outcome in risk register which kind of X is reflecting , Pre- mitigation is ...?, Mitigation is ....? and Post Mitigation is .....?
anyone has answer?
Regards
Mai
2 replies
Oldest first- 0Niles Luo ·
hi, When you find a risk
hi,
When you find a risk factor, maybe you can and want to do something in order to achieve the succesful of the project. Something you will do is the mitigation. After you do something for the risk factor, the probality and/or the impact to the project will decline. This scenairo is called post mitigation. So you will know what is pre-mitigation.
I hope this is useful to you.
Best Regards
- 0Gary Whitehead ·
An example: Risk: Unforseen
An example:
Risk: Unforseen Ground Conditions are discovered during construction
Pre-mitigation, this risk has a 30% probability, will cost £5k £10k or £30k (3 point estimate) and 1,2 or 4 weeks
The mitigation identified is to dig trial holes during site suveys. This will cost £5k
Post mitigation, the probabilty has reduced to 10%, but the cost and time impacts if it does occur have remained the same
So once you've worked this through, you can undertsand if the cost of the mitigation activity is justfied by the reduced cost of the risk
Hope this helps.
Log in or join to reply
ProjectControls.com is free to join. Members can post questions, reply, vote and follow discussions.
Existing members: your original username and password still work. Forgot password?