In my mind Project Management is Risk Management. And so are defined business processes. A lot of the ISO9000 quality platform is situated upon the fact that standardized procedures increase quality through a reduced number of defects; which is risk management at the operational level. The favor that the Prince strategy has is that it’s a process that guides people through the task; reducing risk through knowing what the targets and next steps are going to be.
Similarly PMI has generated processes and checklists of things to tick off in 9 regions of task management – so you can mitigate the chance of disregarding or forgetting certain aspects of the project. They are also more than task management Normally, but Risk Management is fundamental to what these are and what they do. As business evolves into the 21st Century, and as your job as a project worker builds up the complexity of the environment escalates therefore does the size of projects you work on and the costs of failure. So risk management becomes increasingly more crucial to handling better tasks.
This is a Risk management 101 article running through the key regions of project risk management. Different project managers and business experts have different methods to risks. Some only want important risks flagged others only want risks flagged that are specifically related to the project’s scope while others, like me, like to capture all risks determined by the project stakeholders and team.
The important thing to remember is exactly what …Read More