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How to Identify Major Risks Present In Your Project

An enormous problem with risk management is simply being able to find, identify, and recognize risks. Having the experience and know-how to recognize best practices in risk identification and mitigation promotes a healthy and successful project. In this post, Glen D. Ford provides 5 ways to identify risk in projects, including past history, work breakdown review, asking around, and this piece of advice about keeping your eyes open: This is also known as the stumble-upon method. As we work through a project, the randomness of uncertainty disappears. As a result, uncertain or risk events also appear with greater clarity. One source that no project manager can afford to ignore is the team working on the project. I’m not talking about the managing team. I’m talking about the actual producing team. Their feedback and observations on potential risk events is critical. It should be included in every team meeting. Gaining this feedback can seem like a lost cause at times, as some people are hesitant to be the whistle blower in a team. To combat this, attempt to make opportunities for feedback a regular occurrence. This helps the process of feedback become expected and team members are more likely to share vital information.

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