| Project Risk Management is a topic that is as wide as it is long but it is the closest tool Project Managers have to match the powers of crystal ball, some dog-eared tarot cards and a spooky laugh. |
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In upcoming posts I’ll be dealing with it in more detail but for now I’m going to assume that you’re full bottle on Project Risk Management practices just so we can kick off with the Risk Log Template (or the Risk Register for those of you with a predilection for alliteration) and provide some tips on implementing it.
The PM who didn’t manage risk. |
The risk management process is based on an keen awareness of your environment and the changes that (can) occur in it but all too often the risk management box gets ticked at the start of the project then shelved.
One quick and dirty tip for successful risk management is to actually do it which means incorporating your risk assessment throughout your project lifecycle. From the project mandate to the project brief to the PID, the stage plans and the closure, risk happens! The depth of your assessments depend on your context. They can be done formally or informally, but the key is to do it regularly or whenever there is a fundamental shift in your environment. |
I’ve actually incorporated it as a weekly consideration to reflect on in the Friday Afternoon Checklist which is aimed at keeping your project on course but I’ll leave it to you on how to best approach this cycle.
Stay tuned for more on Risk Management and some Tools and Templates (we’ve only just scratched the surface)…
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