Project Risk Management using DSMs

Year: 2013
Editor: Scheurmann, E.; Maurer, M.; Schmidt, D.; Lindemann, U.
Author: Minogue, P.
Series: DSM
Institution: Analog Devices International, Ireland
Section: Project and Process Management
Page(s): 29-36
ISBN: 978-3-446-43803-3

Abstract

In best practice Project Management (PM) and project schedule creation, a Work Breakdown Structure (WBS) is a prerequisite for comprehensive task identification. Where task dependencies are sufficiently complex, process architecture or task-based Design Structure Matrices (DSMs) can be used to visualise, analyse and optimise those dependencies. This paper explores a new way to apply process architecture or task-based DSMs to the field of general project Risk Management (RM). In best practice RM, a Risk Breakdown Structure (RBS) is a prerequisite for comprehensive risk event identification. Where risk event dependencies are sufficiently complex, a risk-response-based DSM can be used to visualise, analyse and optimise those dependencies. Furthermore, a Domain Mapping Matrix (DMM), essentially part of a bigger Multi Domain Mapping (MDM) methodology, can be used to identify the relationships between project risk responses and project tasks. All (task-to-task, risk-response-to-risk-response, risk-response-to-task) dependencies can then be captured in an overall task-and-risk-response-based DSM, thereby ensuring that the sequencing of both tasks and risk responses can be optimised.

Keywords: DSM, Project Management, Risk Management, WBS, RBS, DMM, MDM