Business Intelligence presentation.pptx

Business Intelligence Presentation

1. Project Tasks, Risk Management, and Mitigation: Navigating Uncertainty with Confidence Mastering the art of project success through strategic risk management and proactive mitigation approaches.

2. Understanding Project Tasks 1.Requirement Gathering → understand what the business needs . 2.Data Collection → bring data from databases, files, cloud, etc. 3. Data Cleaning & Integration → fix errors, remove duplicates, merge data . 4.Data Analysis → apply BI tools to find patterns and insights. 5.Reports & Dashboards → create visuals for decision makers. 6.Testing & Deployment → check accuracy, share with users. 7.Monitoring & Maintenance → keep dashboards updated & relevant. Example: A bank collects customer transactions → analyze spending → builds dashboards to detect fraud.

3. What Is Risk in Project Management? Risk Definition Any uncertain event that can positively or negatively impact project objectives, requiring careful consideration and planning. Risk Categories Known, unknown, or unknowable risks — with unknowable risks like the 2003 blackout being impossible to predict. Key Distinction Risks are potential future events; issues are current problems requiring immediate attention and resolution.

4. Types of Project Risks You Must Know Strategic Risks Shifting market conditions or regulatory changes affecting project direction and long-term viability. Operational Risks Process failures, resource shortages, or human error that can disrupt day-to-day project activities. Financial Risks Budget overruns, funding shortfalls, and cost escalations that threaten project financial health. Compliance Risks Legal penalties from regulatory breaches and failure to meet industry standards or requirements. Reputational Risks Negative publicity impacting stakeholder trust and long-term business relationships and credibility.

5. Why Risk Mitigation Is Critical Business Continuity Mitigation prepares your project to lessen the impact or likelihood of threats, ensuring seamless operations and delivery. Stakeholder Confidence Proactive risk management protects assets, maintains compliance, and strengthens stakeholder confidence in project outcomes. Avoiding Consequences Without mitigation, risks can cause missed deadlines, significant financial losses, and permanently damaged reputations.

6. The 5-Step Risk Mitigation Process 01 Identify Risks Early Conduct thorough project planning and encourage team collaboration to surface potential threats before they materialise. 02 Assess Risk Impact Evaluate risks by analysing their likelihood and potential impact using quantitative and qualitative assessment methods. 03 Prioritise Critical Threats Focus resources on the most critical threats using risk matrices and scoring systems to guide decision-making. 04 Implement Strategies Deploy mitigation strategies tailored to each risk, ensuring appropriate resources and timelines are allocated. 05 Monitor Continuously Maintain ongoing surveillance of risks and adjust plans as project conditions evolve and new threats emerge.

7. Four Key Risk Mitigation Strategies 1 Avoidance Eliminate the risk entirely by changing plans or project scope, such as postponing a risky project phase until conditions improve. 2 Reduction (Control) Minimise risk impact through process improvements, additional resources, enhanced training, or better quality controls. 3 Transfer Shift risk responsibility to third parties via insurance policies, contracts, outsourcing, or partnership agreements. 4 Acceptance Acknowledge and monitor risks that are tolerable, unavoidable, or where mitigation costs exceed potential impact.

8. Leveraging Technology for Risk Mitigation AI-Powered Insights Advanced AI and predictive analytics provide early warnings and data-driven insights for proactive risk management. Smart Tools Risk assessment matrices and interactive dashboards enable informed, proactive decision-making across project teams. Real-World Success AI-driven risk platforms help tech leaders anticipate threats, adapt swiftly, and maintain competitive advantages.