Discuss the PlanDoCheckAct risk management process model Poi

Discuss the Plan-Do-Check-Act risk management process model. Point out the benefits gained by using such a model, and provide real life examples.

Solution

Plan-Do-Check-Act risk management process model:

This model has the following four steps

Plan: In this step we have estimate a risk of plan and planning of a assignment using management policy, objectives, targets, processes and procedures.

DO: In this step we have implementing and operating what was planned, i.e. risk management , processes and procedures ,policy, controls.

CHECK: In this step we have to check risk management system effective and efficient and estimating the results.

ACT: In this step define and track specific actions to reduce risk management system.

Advantages of Plan-Do-Check-Act risk management process model:

1)Quality management, using continuous loop of PCDA model we can get analysis, measurement, and identification of sources of variations from customer requirements .

2) Process Improvement, using PCDA we have Continuous improvement in goals of project.

Real life example:

Using of PCDA we can now the performance management of individual employees and project teams on a daily routine basis.

The “plan\" phase incorporates the targets.

The “do\" phase is the actual performance.

The “study\" phase reviews the performance.

The “act\" phase confirms such performance.