Risk analysis techniques are powerful tools for identifying and mitigating risks, but how well do they perform in practice? This activity challenges you to apply different techniques to a real-world product and discover their strengths, limitations, and ideal use cases.
Let’s go!
Task steps:
1. Choose a real-world application:
Select one of these suggested applications:
- A social media platform
- An e-commerce website
- A video streaming service
- A fitness tracking app
- A food delivery application
2. Apply these six risk analysis techniques:
Use these methods to evaluate risks in your chosen application:
- SWOT Analysis: Identify its strengths, weaknesses, opportunities, and threats.
- Risk Matrix: Prioritise risks by mapping them based on their likelihood and impact.
- Scenario Analysis: Explore “what-if” scenarios to uncover potential issues and edge cases.
- RiskStorming: Generate a list of risks across areas like security, performance, usability, and more, considering diverse perspectives.
- Nightmare Headlines Game: Envision worst-case scenarios and identify associated risks.
- Root Cause Analysis: Investigate a hypothetical or known issue to uncover its root causes.
3. Document Your Findings:
- Record the risks identified using each technique.
- Reflect on the strengths and limitations of each method in the context of your application.
4. Compare and analyse results
- Analyse which techniques were most effective for different types of risks (e.g., strategic, technical, or business).
- Identify any limitations of the techniques when applied to your chosen application.
5. Share your findings
Share your reflections in reply to this topic, for example
- What were your experiences with each technique?
- What were their limitations?
- Which ones provided the most value and why?
- What risks did you find?
- Were there risks you uncovered that surprised you?
- Would you combine techniques to achieve more comprehensive results?
- Were there any other insights that might help others apply these techniques?
Why take part?
Your real-world examples may aid others in comprehending these methods and how they are used in practice.