Risk Management

Risk Management Rules You’re Breaking All the Time

There are some general rules and guidelines that we all need to follow when it comes to risk management, but we don’t always follow those rules as closely as we should. In a post at the Project Risk Coach, Harry Hall points out some of these things that we need to start doing again.

Risk Rules Broken

The first, and easiest, thing to remember about risk management is to not overcomplicate it. When writing down all the risks it’s important to make sure that the list includes the big risks, but not to the point where it’s too long. You aren’t looking to just quantify risks; you need to have a qualitative risk analysis. However, there should still be a way to categorize these risks so they can be found easily, and they should be ranked by order of importance. The same goes for identifying opportunities and their potential impacts.

Additionally, don’t forget about the project objectives or the project stakeholders, as ignoring or forgetting about either will hurt you in the long run. Running risk reviews should be done to update your understanding of risks. And lastly, try to assign different risk owners for individual risks, so that the same person is not responsible for watching everything.

You can view the original post here: http://projectriskcoach.com/2017/06/26/the-10-risk-management-commandments-youre-breaking-every-day/

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