You must manage risks throughout a project. To handle this ominous and all-important task, you need an effective organizing tool to help you track all project risks and related information – a risk register.
Project Risk Management
Risk is inevitable when executing a project. Whether it’s a financial loss, accident, or project failure, there are any number of ways a project can go wrong. It’s your job to identify possible risks and have a plan in place for minimizing, as well as dealing with them when they are encountered.
Sound tough? This may be the least favorite part of any PM’s job, but we have a wealth of content to help you navigate these issues and succeed in your project. Read articles, tips and ideas from fellow PMs and share your own experience in the comments.
A Risk Management Plan should never be an isolated after-thought to the rest of your plan. It is an integral part of the project as a whole and needs to be developed to go along with every other piece. Here is the process you should follow for identifying and managing risks.
Effective risk management enables project managers to plan ahead to prevent project failure. Successful project managers predict the level of risk associated with probable events, both positive and negative, to adequately prepare. Test your knowledge on this topic now!