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Project Risk & Change Management

Identifying, assessing, prioritizing, documenting, and managing risk and its impact.
Level 1 Introductory: Demonstrates introductory understanding and ability and, with guidance, applies the competency in a few, simple situations. Can direct people to the appropriate source for further information.

BEHAVIORS

  • Documents identified risk.
  • Follows mitigation or contingency plans to address or exploit risk.
  • Monitors progress against plans, identifying and tracking barriers.
  • Notifies project manager when risk is impending.
  • Classifies the types of risks such as regulatory, financial, environmental, commercial, and safety.
  • Documents change requests.
  • Updates well-defined data into project management software, for example, tasks, sub-tasks, hours, documents.
  • Documents results of risk analysis and risk response plan.
  • Involves stakeholders in generating a change control plan.
  • Ensures the change control process is followed.
  • Communicates changes with stakeholders.

QUESTIONS

  • Describe a time when you were tasked with tracking change requests.

Probing Questions

* What type of changes were you tracking?

* What was the change control process?

* How did you track change requests?

* How did you validate them against the project plan?

* How did you validate the changes were implemented?

  • Provide an example of when you were responsible for documenting and identifying risks.

Probing Questions

* Describe the project.

* What types of risks were you looking for?

* What things do you look for when identifying if a risk is impending?

* What is your experience with following mitigation or contingency plans to address or exploit risks?

* How successful were the mitigation or contingency plans?

Level 2 Basic: Demonstrates basic knowledge and ability and, with guidance, can apply the competency in common situations that present limited difficulties.

BEHAVIORS

  • Identifies risks within own project.
  • Completes risk tracking tools such as risk register and risk breakdown structure.
  • Evaluates risk consequences, probability and impact.
  • Develops solutions to address roadblocks in projects and monitors results.
  • Recommends corrective action regarding the risk for a small project or component of a large project.
  • Communicates the risks associated with budget, schedules and scope to stakeholders and project team members.
  • Follows the change management process to manage and record changes.
  • Updates risk response plan when risk is realized, avoided, transferred or mitigated.
  • Estimates risk contingency costs.
  • Assigns risk responsibility.
  • Establishes a change control process.
  • Establishes an action plan to address any variations in the project plan.
  • Identify, assess and monitor the impact of changes to project baselines.

QUESTIONS

  • Tell me about a time you were responsible for the change control processes and procedures on a complex project.

Probing Questions

* What was the scope of the project?

* How did you establish a change control process?

* How did you assess and monitor the impact of changes to project baselines?

* How did you address any variations to the project plan?

  • Describe a time when you were responsible for developing a risk register for a project.

Probing Questions

* What were the circumstances surrounding the project?

* What were the risks were involved?

* How do you estimate risks in terms of consequences, probability and impact?

* How did you estimate risk contingency costs?

* How accurate were your forecasts?

Level 3 Intermediate: Demonstrates solid knowledge and ability, and can apply the competency, with minimal or no guidance, in the full range of typical situations. Would require guidance to handle novel or more complex situations.

BEHAVIORS

  • Qualifies and quantifies known risks.
  • Develops risk response plan, including strategies for each defined risk.
  • Leads multi-functional teams to assess risk and develop plans for management of those risks.
  • Uses advanced risk tools to analyze risk on highly complex initiatives.
  • Manages high risk and uncertain initiatives.
  • Assist the leadership team in developing risk management strategies.
  • Identifies project roadblocks that can impact other projects.
  • Identifies risk trends.
  • Identifies the impact of a change against the project plan.
  • Recommends corrective or preventative action.
  • Recognizes when a new or unknown risk occurs and establishes workarounds and mitigation plans.

QUESTIONS

  • Provide an example of a risk response plan you developed for a project.

Probing Questions

* How did you qualify and quantify the known risks?

* What was required for developing the risk response plan?

* How did you track risks?

* What was your process for dealing with new or unknown risks?

* How successful was the risk management strategy?

  • Describe a project where there was a high volume of changes, or where priorities changed quickly.

Probing Questions

* What were the types of changes and priority shifts?

* How did you perform the root cause analysis?

* What adjustments were required to address the changes and shifting priorities?

* Did the changes impact the project baselines?

* What was done to ensure the volume of changes did not occur in subsequent projects?

Level 4 Advanced: Demonstrates advanced knowledge and ability and can apply the competency in new or complex situations. Guides other professionals.

BEHAVIORS

  • Identifies risks that cross-project boundaries, requiring resolution at the program level.
  • Analyzes risk on initiatives across multiple projects and develop a high-level response strategy.
  • Considers the business landscape and outlook beyond the initiative when determining risks and their potential impact on the organization.
  • Mitigates risk on projects that have an organization-wide impact.
  • Develops key risk indicators to continuously monitor project programs.
  • Develops a plan to mitigate recurring risks.
  • Reviews individual risk response strategies to develop new organizational standards or procedures.

QUESTIONS

  • Describe a risk response strategy you implemented to address an organizational risk.

Probing Questions

* How did you track risk trends?

* What were the dimensions and nature of the risks?

* What plans did you develop to address these risks?

* What was the result?

Level 5 Expert: Demonstrates expert knowledge and ability, and can apply the competency in the most complex situations. Develops new approaches, methods, or policies in the area. Is recognized as an expert, internally and/or externally.

BEHAVIORS

  • Evaluates each portfolio component for risks at the organizational level that may impact the achievement of strategic objectives.
  • Implement a comprehensive risk management information system within the organization.
  • Classifies the types of risks that are embedded in a portfolio of projects, including regulatory, financial, environmental, commercial, safety, etc.
  • Directs the decision-making process for addressing major roadblocks with a portfolio.

QUESTIONS

  • Describe a situation where you were asked to address a major roadblock affecting multiple projects.