All language subtitles for KU PMGT 823 Session 5 (Part C)- Resource Adjustments and Communication in Risk Response

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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:00:03,080 --> 00:00:07,400 Hi everyone and welcome to Part C of Session 5. In this section, we will 2 00:00:07,400 --> 00:00:11,220 on resource adjustments and communication strategies during risk 3 00:00:11,600 --> 00:00:15,480 Now that you have learned how to design and document response plans, let's 4 00:00:15,480 --> 00:00:19,760 explore how to align team rules, timelines, and communication to make 5 00:00:19,760 --> 00:00:20,800 plans work effectively. 6 00:00:25,530 --> 00:00:29,530 part of the module focuses on two critical elements in executing risk 7 00:00:29,790 --> 00:00:33,270 adjusting project resources, and maintaining clear communication. 8 00:00:33,810 --> 00:00:38,190 We will look at how to realign tasks, team members, and timelines as risks 9 00:00:38,190 --> 00:00:42,510 evolve, and we will explore how good communication helps keep everyone 10 00:00:42,510 --> 00:00:43,510 and accountable. 11 00:00:46,890 --> 00:00:50,230 Implementing a risk response often affects different parts of the project. 12 00:00:50,430 --> 00:00:54,290 You might need to shift resources, increase the budget, or adjust the 13 00:00:54,880 --> 00:00:58,900 If you don't reflect these changes in your project plan, misalignment can 14 00:00:58,900 --> 00:01:04,180 happen. That's why schedule and cost baselines may need to be revised and any 15 00:01:04,180 --> 00:01:06,680 updates should always go through the formal change control. 16 00:01:10,200 --> 00:01:13,200 Projects need reserves to handle risks without going off track. 17 00:01:13,960 --> 00:01:17,380 Contingency reserves are for known risks and are part of the baseline. 18 00:01:17,840 --> 00:01:22,300 But management reserves are for unknown and held outside of the project 19 00:01:22,300 --> 00:01:23,300 manager's control. 20 00:01:23,900 --> 00:01:27,920 Both are used based on the approved triggers so the project stays aligned 21 00:01:27,920 --> 00:01:28,920 expectation. 22 00:01:31,360 --> 00:01:35,620 It is very important to know that even a solid risk response can fail without 23 00:01:35,620 --> 00:01:36,620 clear communication. 24 00:01:37,180 --> 00:01:40,580 Everyone involved needs to know what to do and when to act. 25 00:01:40,920 --> 00:01:44,340 Communication keeps both internal and external teams aligned. 26 00:01:45,100 --> 00:01:49,560 And another important point is that based on PMBOK, communication matters 27 00:01:49,560 --> 00:01:53,480 planning to execution and does not only belong to the execution phase. 28 00:01:56,340 --> 00:02:00,900 To manage risks effectively, PMBOK recommends using structured tools. 29 00:02:01,300 --> 00:02:05,040 A risk response log helps track responsibilities and timing. 30 00:02:05,580 --> 00:02:10,220 The racy matrix clarifies who is responsible, accountable, consulted, or 31 00:02:10,220 --> 00:02:14,620 informed. And the communication plan outlines what information is shared with 32 00:02:14,620 --> 00:02:19,320 whom and how often. Together, these tools keep everyone aligned and reduce 33 00:02:19,320 --> 00:02:20,640 confusion during execution. 34 00:02:24,180 --> 00:02:28,560 Linda was managing a major transportation upgrade when she 35 00:02:28,560 --> 00:02:30,280 risk that would delay key components. 36 00:02:31,020 --> 00:02:34,580 She acted quickly by assigning part of the work to an internal team, 37 00:02:34,740 --> 00:02:38,860 reallocating the staff, and using the contingency reserve to cover added 38 00:02:39,320 --> 00:02:44,280 At the same time, she focused on communication. She created a clear plan 39 00:02:44,280 --> 00:02:48,220 stakeholders informed and used tools like the RACI chart and a communication 40 00:02:48,220 --> 00:02:50,400 matrix to clarify rules and timing. 41 00:02:50,900 --> 00:02:55,780 This helped the project stay on track, avoid further delays, and maintain trust 42 00:02:55,780 --> 00:02:56,780 among all involved. 43 00:03:00,750 --> 00:03:04,250 All right, please make sure to complete all the required readings before the 44 00:03:04,250 --> 00:03:05,069 next session. 45 00:03:05,070 --> 00:03:08,870 These materials will help you reinforce your understanding of risk response 46 00:03:08,870 --> 00:03:11,350 strategies and prepare you for upcoming discussions. 47 00:03:15,290 --> 00:03:19,070 Now that we have covered the key concepts in this part, here is what you 48 00:03:19,070 --> 00:03:20,070 do for the next session. 49 00:03:20,250 --> 00:03:23,790 Please complete your post for discussion board three by the assigned deadline. 50 00:03:24,090 --> 00:03:28,690 Also, begin working on case study two and continue making progress on your 51 00:03:28,690 --> 00:03:29,690 project. 52 00:03:33,239 --> 00:03:35,560 We have now reached the end of part C in this session. 53 00:03:35,820 --> 00:03:39,540 If you have any questions, please feel free to send me an email or post them on 54 00:03:39,540 --> 00:03:40,540 the discussion board. 55 00:03:40,660 --> 00:03:43,880 Thank you very much again for your attention, and I look forward to see you 56 00:03:43,880 --> 00:03:44,880 the next session. 5178

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