Category: Managing Project Risks

This section breaks out of the strict risk management process and considers some powerful strategies you should consider to either deal with the high-priority risks you now have or reduce the number of new risks from occurring as your project goes forward.

The first key to managing risk on your project is to know where to look for it. The good news is that 80% or more of all risks originate from the same sources on every project. After you know the project characteristics that contribute to higher risk levels and the common sources of most project…

To be consistent with our principles, we need a systematic approach that enables us to focus time and resources on the highest priority risk elements. The power in the process is not in its complexity—it’s relatively simple and straightforward—the power is in the management approach it inspires. Let’s review the essential steps for managing project…

A proactive management philosophy underlies the key principles of project risk management. By effectively managing project risks using these principles, a project manager remains in control of the project at all times, enables better project decisions, and provides the project the best opportunity for success. The key principles to managing project risks include the following:

Managing project risks is the ultimate in proactive project management. It is the project manager’s radar system. The goal of project management is to achieve the project’s critical success factors, including meeting the targeted business objectives and client expectations. The goal of managing project risks is to identify and prepare for any potential threat to…