Enterprise Intelligence Quarter

Enterprise Intelligence Quarter (hereinafter, the Quarter) is the second of four lectures of Team Quadrivium (hereinafter, the Quadrivium):

• The Quarter is designed to introduce its learners to enterprise discovery, or, in other words, to concepts related to obtaining data needed to administer the enterprise effort; and
• The Quadrivium examines concepts of administering various types of enterprises known as enterprise administration as a whole.

The Quadrivium is the first of seven modules of Septem Artes Administrativi, which is a course designed to introduce its learners to general concepts in business administration, management, and organizational behavior.

Outline

The predecessor lecture is Bookkeeping Quarter.

Concepts

1. Enterprise intelligence.
2. Risk analysis. Controlling residual risks, identifying new risks, executing risk response plans, and evaluating their effectiveness throughout an enterprise effort.
   • Risk event. A discrete occurrence that may affect the project for better or worse.
   • Trigger. Triggers, sometimes called risk symptoms or warning signs, are indications that a risk has occurred or is about to occur. Triggers may be discovered in the risk identification process and watched in the risk monitoring and control process.
   • Risk category. A source of potential risk reflecting technical, project management, organizational, or external sources.
3. Risk. An uncertain event or condition that, if it occurs, has a positive or negative effect on an enterprise effort.
   • Secondary risk. A risk that arises as a direct result of implementing a risk response.
   • Residual risk. A risk that remains after risk responses have been implemented.
   • Identified risk.
4. Countersurveillance.

Methods

1. Uncertainty assessment technique. A three-step pattern used to evaluate risks. Risks are identified first, qualitatively analyzed second, and those, that are selected as the most important ones, quantitatively analyzed third.
   • Risk identification. Determining which risks might affect the project and documenting their characteristics. Tools used include brainstorming and checklists.
   • Qualitative analysis. Performing a qualitative analysis of risks and conditions to prioritize their effects on project objectives. It involves assessing the probability and impact of project risk(s) and using methods such as the probability and impact matrix to classify risks into categories of high, moderate, and low for prioritized risk response planning.
   • Quantitative analysis. Measuring the probability and consequences of risks and estimating their implications for project objectives. Risks are characterized by probability distributions of possible outcomes. This process uses quantitative techniques such as simulation and decision tree analysis.
2. Risk response technique.
   • Risk acceptance. This technique of the risk response planning process indicates that the project team has decided not to change the project plan to deal with a risk, or is unable to identify any other suitable response strategy.
   • Risk avoidance. Risk avoidance is changing the project plan to eliminate the risk or to protect the project objectives from its impact. It is a tool of the risk response planning process.
   • Risk mitigation. Risk mitigation seeks to reduce the probability and/or impact of a risk to below an acceptable threshold.
   • Risk transference. Risk transference is seeking to shift the impact of a risk to a third party together with ownership of the response.
3. Simulation. A simulation uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the total project. Project simulations use computer models and estimates of risk at a detailed level, and are typically performed using the Monte Carlo method.
   • Monte Carlo method. A technique that performs a project simulation many times to calculate a distribution of likely results.

Instruments

1. Stakeholder-analysis tool.
   • Power-interest grid.
   • Influence-interest grid.
   • Power-interest-attitude grouping.
2. Probability and impact matrix. A common way to determine whether a risk is considered low, moderate, or high by combining the two dimensions of a risk, its probability of occurrence, and its impact on objectives if it occurs.

Results

1. Risk database. A repository that provides for collection, maintenance, and analysis of data gathered and used in the risk management processes. A lessons-learned program uses a risk database. This is an output of the risk monitoring and control process.

Practices

The successor lecture is Organizational Structure Quarter.