Risk and Risk Management – Theory and Practice
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, Todd Little
Two industries that extensively deal with risk are Investment Banking and Oil Exploration. As seasoned veterans involved in developing software in these industries, Chris and Todd will introduce a number of theories, tools and practices surrounding risk and risk management. They will share their practical experience using these techniques and approaches, explaining what works and what does not based on their experience and that of their colleagues.
Introduction (10 minutes, survey group for top 5 risks)
Types of Risks in a Business Project (10 minutes, revisit survey and classify risks)
- Delivery Failure. Failure of project results in damage to business case.
- Business Case Failure. Project delivers but fails to deliver value.
- Damage to existing business model. Project failure damages the existing business.
General Strategies for Managing Risk (10 minutes overview)
Tools for Managing Risk. (45 minutes total, presentation + class participation)
- Damage to existing business model. (10 minutes)
- Effective Roll-Back strategy.
- Business Case Failure. (10 minutes)
- From NPV to the Business Value Conversation
- Delivery Failure (15 minutes)
- Complexity and Uncertainty
- Staff Liquidity
- Uncertainty Surrounding Cone of Uncertainty
- Real Options (15 minutes – includes Real Options Game)
- Changing the way we think about risk
Wrap-up (10 minutes)
- Types of Risks
- General Strategies for managing risk
- A set of practical tools for managing risk