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Archive | Project Risk Management

These articles discuss the tools and techniques for managing risks on a project. They cover the risk management process from risk identification, qualitative risk assessment, quantitative risk assessment, risk response planning and risk monitoring and control. They address both positive and negative risks and give the project manager a solid foundation for avoiding the consequences of inadequate or nonexistent risk management.

Project Risk Management

You should spend some time doing Project Risk Management even if your project is small.  Let’s say your boss is the sponsor and your project has just two team members. That means you will be completing tasks as well as performing project manager duties.  Most projects are small like this but you still should perform some Project Risk Management […]

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Project Management Risk – Three Levels

The project management risk process has a bad reputation among executives. Often that reputation is well deserved. Too many project managers get carried away with fancy mathematics, too many meetings and far too much paperwork. The cost and level of effort are out of proportion to the benefits the project receives from the risk management effort. […]

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How To Do Risk Analysis

Here is How To Do Risk Analysis for your project. After you have identified the risks your project faces, you need to do a risk analysis to determine which ones call for a risk response and which do not. The purpose of risk analysis is to rank the list of identified risks in order of significance […]

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Risk Strategy – Video

Here is how to plan a Risk Strategy for your project. You have gone through the risk identification process and you have done qualitative analysis of those risks. You may have also done quantitative analysis on a few major risks. Now you have your data on the probability of each risk occurring and the magnitude of the […]

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Risk Management Plan – Video

Successful project managers always have a Risk Management Plan to avoid fires on their projects. That’s much better than putting out the flames after they have ignited.  These PMs don’t need “all-hands” emergency meetings when something unexpected happens. They don’t need to bring all project work to a halt and give people new tasks to respond […]

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Risk Management Plan Presentation

Regardless of the size of your project and the risk management effort, you always have to present the risk management plan. You need to put yourself in the mind of your audience. The audience at your presentation will often be hostile, in the sense that they don’t believe spending money and time on risk management improves the odds of completing […]

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Risk Tradeoffs

Executives do not like project managers to mention risk (or planning for it) because they prefer to think the project manager can execute the project without any uncertainty. They also don’t want to pay any price for risk planning. However, it is a real impossible mission not to consider the risk tradeoffs on your project. The […]

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Healthcare Project Risk Management – Video

Convincing healthcare administrators and physicians to participate in Healthcare Project Risk Management is difficult at best. They typically perceive risk management as a lot of meetings, wasted paperwork, money and time. To persuade healthcare leaders that a minimal investment in healthcare project risk management is worthwhile, revisit some previous project failures. Identify the causes of […]

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