Risk management gets a lot of fanfare, but many project managers fail to cash in on the benefits. Here are some simple and practical project risk management tips that can aid project managers in getting better results.
Five Things to Start
- 1Start risk management early in your projects.
- 2Start discussing the most significant risks each time you meet.
- 3Start educating your team members on how to integrate risk management into other project management processes such as Schedule Management and Quality Management.
- 4Start defining your Risk Management Plan during your Planning Process.
- 5Start using a Risk Register to capture your risks.
“The first step in the risk management process is to acknowledge the reality of risk. Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning.” —Charles Tremper
Five Things to Stop
- 1Stop making risk management overly complex for smaller projects. Scale your risk management practices to fit the size and complexity of your project.
- 2Stop making risk management a big deal early in your project and then forgetting about it later.
- 3Stop thinking of risks as only threats. You may be missing some wonderful opportunities to improve your schedule, cost, and quality.
- 4Stop spending time and responding to insignificant risks.
- 5Stop owning all the risks. Identify appropriate risk owners.
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