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Ricardo (4s): Hello one Welcome to the five minutes podcast. Today I'd like to talk about running Risks and this is a technique very used in agile teams. And for example, in SAFE, when you do the PI Planning or the program increment planing, it's a very common thing. So I want to teach you how to do that in a very simple way. So basically walk your needs. You need to have a very big white board and some post-it notes, and basically, you divide your whiteboard in a two by two matrix. And on the top left, you put the word Resolved, top right Owned, bottom left accepted, bottom right mitigated.
Ricardo (49s): And if you see the first letter of each of this areas, R O A M means a roam. So we are talking about ROAMing Risks. Roaming Risks is an analytical tool that helps you and your team to act on the Risks. So every single Risk is a post-it note. Then the group decides what to do with that post-it note. So that Risk is no longer a Risk. For example, I was expecting a material to arrive yesterday and it arrived. So it's no longer a Risk. So then you put on the results side.
Ricardo (1m 29s): So you book that mostly they're on the second area. It's the owned area is when you have a risk and you would identify someone in your team to own it. To se you will be responsible and you will take care of that Risk. Then you put the Risk on the owned. It means, someone is taking care on behalf of the team of that risk. The third area is the Accepted. This is the area where you put the Risks with post-it notes that do you decide to accept means You will do nothing, you will just accept the consequences of that Risk.
Ricardo (2m 11s): Usually the Risks that are on the Accepted are the risks, no impact and a Risks that you can not do too much about it. So there is no way that you can mitigate, you know, you just need to acceptand Live with that risk one thing that is very important. You never put on the Accepted a risk that has a high chance of happening and a massive impact. Because if you do that, you are crazy because you are accepting a Risk that has a very strong probability and a massive impact. So you cannot live with that. So usually you accept Risks that are just irrelevant or the probability is show a small that you said, look, it's better to do Nothing.
Ricardo (2m 56s): Okay. It's better to do nothing. Then the last one Mitigated this is where I believe most of the Risks wil be so most of the Risks will require an action to reduce their chance of happening or they're impact. And this is what we called the Mitigated area. So You as a team implemented, action's that reduced the impact or reduce the probability up to a boundary that the group can accept, but you should see one interesting thing. Do you see that all verbs Resolved Owned Accepted Mitigated they where in the past?
Ricardo (3m 39s): It means that when you put that this is why this is a teamwork. So you put everybody together on that, and then you decide what to do. What kind of actions are you planning to Mitigated? So when you decided on the actions, you put it Mitigated means, that Risk was Mitigated So, it's a process So and it's a very interactive process. I suggest you that you have several colors of post-it notes and one final advice. This is an Agile technique for risk analysis, but don't be attached. That's a, Oh, but I'm not using an agile method.
Ricardo (4m 21s): It doesn't matter. Every single one can benefit from the tool. So, you know, me, you know that I'm not a big fan of this. Doltrinary approach that saying, Oh, your doing agile then you can not do anything on a waterfall for me. Look, most of the times I'm working in the project environment. I mix everything. I don't care, its like a Swiss army knife. I want the best tools I can to solve the problem. And I don't care if they are called A, B or C, I just want the results. So these is an, agile technic that even if you are building a hospital and you were working with a more structured methodology and using waterfall, you can benefit from that, you motivate your team, you communicate proper, the Risks and you get an awareness.
Ricardo (5m 12s): So this was a great tool, a simple two that you can do with your team and you can do it today. So thank you very much for listening this podcast and show next week with a, not a five minute PM Podcast.