Risk management shouldn’t be a start and stop process. Revving your engine only to slam on the brakes is only going to give you whiplash. Instead, follow Harry Hall’s five things to start and five to stop in risk management.
Obviously, it’s good to start risk management early in the project, and risks should be discussed each time you meet. However, many organizations overlook the education aspect, as employees need to be shown how to integrate risk management into other processes, such as time and quality management. Also, a risk management plan should be established early, as should a risk register to remember those potential problems your memory can’t contain.
However, don’t take risk management more seriously than you have to. It’s easy to make risk management more complex than it has to be, especially for the smaller projects. It’s equally as bad to make risk management a big deal early on, but forget it later. Stop owning all the risk. Stop spending time on insignificant risks. Above all, stop thinking of risks as only threats. There are opportunities for growth there as well; you’ll find them amidst the negative if you know where to look.