From one passionate Project Manager to another. For all you Risk Management evangelists out there, my next blog posts will help you understand the Risk Management Process. These posts will contain several short and sweet parts where I will give some practical implementation of the theory.


Why Risk Management is necessary for Projects?
Many, many projects fail? Why? It’s got to be scope creep, schedule delays, cost overrun, poor quality and/or customer dissatisfaction right? No. Not really – these are not root causes.
The root cause is Poor or No Risk Management throughout the project.

ImageWant to implement Risk Management for Projects within your company? Wait!
Take a step back. Before anything, try to get buy-in from key management folks in your company. Look for evangelists - People who believe in Risk Management. This will help leverage your Risk Management principles and gain credibility. Knowing what to do is easy. Implementing it is another ball game all together. These evangelists will help you move your ideas forward without the fear of failure.


The process itself:
Following are the various processes within the Risk Management Knowledge Area

  • Plan Risk Management
  • Risk Identification
  • Qualitative Risk Analysis
  • Quantitative Risk Analysis
  • Risk Response Planning
  • Risk Monitoring and Control


All the above processes except Risk Monitoring and Control occur during the Project Planning Stage. Risk Monitoring and Control occurs in the Monitoring and Control stage of Project Management.
Risk Management should occur throughout the Project Life Cycle and not just during the early phases.
Watch out for the what and how tips on the first Process Area – Plan Risk Management in my next post shortly.


Anand Chittoor, PMP, CSM.
View Anand Chittoor, PMP, CSM's profile on LinkedIn

------------------------------------------------------------------------------------------------------------------------

8028220852?profile=original

FOR GRC MEMBERS ONLY !

Enter code GRC10 to receive one month free when you buy a PRO or BUSINESS plans and

2 MONTHS FREE (a $798 value)on the Enterprise Plan on an annual subscription.

Get a 30 day Free Trial

View Product Tour

Vue-Matrix Project Risk Management Software – Simple, Affordable and Effective risk management.

www.vue-matrix.com

Votes: 0
E-mail me when people leave their comments –

You need to be a member of Global Risk Community to add comments!

Join Global Risk Community

    About Us

    The GlobalRisk Community is a thriving community of risk managers and associated service providers. Our purpose is to foster business, networking and educational explorations among members. Our goal is to be the worlds premier Risk forum and contribute to better understanding of the complex world of risk.

    Business Partners

    For companies wanting to create a greater visibility for their products and services among their prospects in the Risk market: Send your business partnership request by filling in the form here!

lead