All language subtitles for KU PMGT 823 Session 6 (Part B)- Documenting Risk Response Execution

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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:00:02,330 --> 00:00:07,050 Hello and welcome to Session 6, Part B of PMGT 823, Project Risk Management. 2 00:00:07,430 --> 00:00:10,710 We are continuing with our discussion on implementing risk responses. 3 00:00:11,010 --> 00:00:13,050 Let's get started with this section together. 4 00:00:15,910 --> 00:00:20,170 In this part, we will focus on documenting the execution of risk 5 00:00:20,630 --> 00:00:24,690 Good documentation is critical to track what actions were taken, who was 6 00:00:24,690 --> 00:00:26,650 involved, and what results were achieved. 7 00:00:27,420 --> 00:00:31,420 This process helps create transparency and supports future risk management 8 00:00:31,420 --> 00:00:35,640 efforts. Let's begin exploring how to capture this information effectively. 9 00:00:38,780 --> 00:00:43,760 An issue log is used to document any problems or unexpected events that come 10 00:00:43,760 --> 00:00:44,760 during a project. 11 00:00:45,040 --> 00:00:49,600 If a new issue appears while carrying out risk responses, it gets recorded 12 00:00:49,600 --> 00:00:50,740 for tracking and resolution. 13 00:00:51,180 --> 00:00:55,520 This helps the team stay organized and respond quickly to anything that might 14 00:00:55,520 --> 00:00:56,520 disrupt the plan. 15 00:00:59,790 --> 00:01:03,030 The next important document is the lessons learned register. 16 00:01:03,390 --> 00:01:08,290 A lessons learned register helps capture valuable experiences, insights, and 17 00:01:08,290 --> 00:01:10,150 knowledge gained during the project. 18 00:01:10,430 --> 00:01:14,510 This information can prevent similar problems in future projects and support 19 00:01:14,510 --> 00:01:15,510 continuous improvement. 20 00:01:16,210 --> 00:01:21,030 By updating it during risk response execution, the team builds a stronger 21 00:01:21,030 --> 00:01:24,330 foundation for managing risks more effectively next time. 22 00:01:28,940 --> 00:01:32,360 risk responses are confirmed the project team needs to allocate the right 23 00:01:32,360 --> 00:01:36,300 resources to carry them out this means assigning qualified and experienced 24 00:01:36,300 --> 00:01:40,480 people to each action along with setting the budget timeline and any needed 25 00:01:40,480 --> 00:01:45,100 technical support these documents help make sure the agreed upon risk responses 26 00:01:45,100 --> 00:01:52,000 are actually put into practice and the risk register which is the most 27 00:01:52,000 --> 00:01:55,880 important document here is a detailed document that keeps track of individual 28 00:01:55,880 --> 00:01:59,660 project risks their status, and the chosen response strategies. 29 00:02:00,680 --> 00:02:04,940 As the team implements risk responses, this register should be updated to show 30 00:02:04,940 --> 00:02:06,480 any changed or new information. 31 00:02:06,880 --> 00:02:11,500 Keeping it current helps everyone stay aligned and aware of how risks are being 32 00:02:11,500 --> 00:02:12,900 managed throughout the project. 33 00:02:16,140 --> 00:02:20,460 And ultimately, the risk report provides a high -level summary of the overall 34 00:02:20,460 --> 00:02:24,420 risk exposure of the project and highlights key risk trends for 35 00:02:25,360 --> 00:02:29,720 As risk responses are implemented, this report should be updated to reflect any 36 00:02:29,720 --> 00:02:31,120 major changes or new concerns. 37 00:02:31,660 --> 00:02:35,880 Keeping the risk report current helps decision makers stay informed and take 38 00:02:35,880 --> 00:02:36,880 action if needed. 39 00:02:39,740 --> 00:02:44,500 Okay, in this example, Rachel is managing a hospital infrastructure 40 00:02:44,500 --> 00:02:45,640 a street waterfall approach. 41 00:02:45,940 --> 00:02:50,600 She identified a key risk of delays in importing a backup generator and planned 42 00:02:50,600 --> 00:02:53,920 a transfer strategy to handle it through specialized contractors. 43 00:02:55,000 --> 00:02:59,140 When customs clearance became an issue, Rachel logged it, escalated with 44 00:02:59,140 --> 00:03:01,800 suppliers, and set up a temporary generator plan. 45 00:03:02,120 --> 00:03:06,320 She documented everything carefully in the issue log, the lessons learned 46 00:03:06,320 --> 00:03:08,160 register, and the risk register. 47 00:03:08,720 --> 00:03:13,040 Thanks to her structured and timely documentation, the generator was 48 00:03:13,040 --> 00:03:17,020 just one week later without disrupting commissioning, and her efforts were 49 00:03:17,020 --> 00:03:18,520 praised in the project audit. 50 00:03:21,680 --> 00:03:25,280 All right, please make sure to complete the required readings before our next 51 00:03:25,280 --> 00:03:29,880 session. You should review Kendrick chapters 8 and 10 as well as PMBOK 52 00:03:29,880 --> 00:03:30,940 11 .6. 53 00:03:31,180 --> 00:03:35,020 Also take time to go through the presentation materials once again to 54 00:03:35,020 --> 00:03:36,340 what we have learned today. 55 00:03:40,140 --> 00:03:44,040 And also please remember to reply in discussion board 3 to share your 56 00:03:44,490 --> 00:03:48,250 Make sure to submit quiz 4 by the deadline and finally begin working on 57 00:03:48,250 --> 00:03:51,030 milestone 4 for the group project to stay on track. 58 00:03:54,330 --> 00:03:58,330 And this brings us to the end of this session. If you have any questions, feel 59 00:03:58,330 --> 00:04:00,690 free to reach out or post them in the discussion board. 60 00:04:00,930 --> 00:04:04,250 Thank you very much again for your attention and see you in the next 5645

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