Identifying Risks Developing Risk Profile Essay - 861 Words

A) Identifying Risks-Developing Risk profile: Compiling a comprehensive list of internal operational challenges and risks is vital to developing a risk profile. Risk profile must be updated throughout the project, including the unanticipated risks caused by new investments. Proactive, consultative engagement is required for risk profile to be effective. Identify and prioritize all related risks and perform root cause analysis to understand the effect of those risks, if left unattended, may cause higher levels of risks. In Agile environments, the project team shares the responsibility for identifying risks that might impact a sprint, project or the course of development. The following agile processes aid in identifying risks in the ERP implementation project: †¢ Daily Scrum- Strong forum for identifying risks when performing daily tasks †¢ Requirements workshop- The team and the project manager discusses new ideas, this allows to adjust or correct the requirements so that it minimizes risk. †¢ Sprint Planning- Planning poker used to estimate the relative size of user story, gives opportunity to reduce the risk associated or break down the stories. †¢ Retrospective meeting- Identify the problems that were hurdles/risks for the implementation †¢ Sprint Review- Gives opportunity to identify, access and respond to risk. 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