If you survey people involved in projects on the importance of risk management for achieving project objectives, a high percentage of the participants will say risk management is important or very important. I’ve seen survey results where 90% of the people thought risk management was important. So…why do few people employ and support risk management?
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Many people have had a bad experience. Project managers have performed risk management poorly. Let’s look at several reasons why project risk management can become useless and what we can do to gain better project results through risk management.
Failure to lead by example. In order for organizations to mature and benefit from risk management, leaders including sponsors and project managers must walk the talk. People resist change. Without a consistent example by those in authority, people will likely seize opportunities to revert to their former behaviors. What must we do? Lead by example.
Failure to focus on the risks that matter. Some project managers start their programs and projects with gusto. They facilitate risk identification exercises that result in a boatload of risks. However, no one knows which risks matter…there is no evaluation and prioritization of risks. People become overwhelmed and take no action. Be sure to evaluate and prioritize risks.Continue reading