Purpose:
To provide a standard Project Risk classification methodology for determining UI Health Care Information Systems project risk levels.
Definitions:
Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and monitoring and control on a project. The objectives of Project Risk Management are to increase the probability and impact on positive events, and decrease the probability and impact on negative events in the project. Components of the Project Risk Management process include:
- Plan Risk Management – The process of defining how to conduct risk management activities for a project.
- Identify Risks – The process of determining which risks may affect the project and documenting their characteristics.
- Perform Qualitative Risk Analysis – The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
- Perform Quantitative Risk Analysis – The process of numerically analyzing the effect of identified risks on overall project objectives.
- Plan Risk Responses – The process of developing options and actions to enhance opportunities and to reduce threats to project objectives.
- Monitor and Control Risks – The process of implement risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project.
Project risk has its origins in the uncertainty present in all projects. Known risks are those that have been identified and analyzed, making it possible to plan for those risks. Specific unknown risks cannot be managed proactively, which suggests that the project team should create a contingency plan.
Risks
The Risk Matrix identifies six risk factors to be evaluated when calculating the project classification. Consider the project factors in the left column of the table and determine the project risk. Enter the value in the right column and when all rows are completed, add all the values to arrive at the project risk total score to determine the project risk level.
Risk Matrix |
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Factors |
Low (0) |
Medium (1) |
High (2) |
Score |
|
| Project Team size(Number of team members) | <5 |
5 - 9 |
>9 |
||
| Number of Cross Functional Workgroups/Teams involved | 1- 2 |
3 - 5 |
>5 |
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| Complexity of Project (Multiple sub-projects) | Solution is well defined and problems are expected. Stand alone system. | Solution is known, but some problems are expected and/or there is more than one approach. Some integration with another system. | Solution is not known or vaguely defined. New system needs to integration with several others and/or are critical systems. | ||
| Project Duration (Time to deliver) | <3 months |
4 - 12 months |
>12 months |
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| Technology/Business Process | Expert |
Familiar |
New to UIHC Breakthrough |
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| Organizational Impact/priority | Division Area |
Spans multiple Divisions/Departments |
Hospital wide |
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Total Score |
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Proejct Risk Scoring |
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Risk Level |
Total Score |
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Low |
0 - 3 |
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Medium |
4 - 8 |
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High |
9 - 12 |
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