Project Risk Management

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All projects are essential and every project has its own risk elements. Commencing from initiation to post completion of the project, the degree of risk grows within, as does the haze of uncertainty, thus proper project risk management can make a difference.

Risk inevitably comes with any project. It resides in the project as a contrary and hinders as an adversary. Enclosed within, the compound constraint of time, budget, workforce and multiple quantifiable and non-quantifiable determinants; a project marches towards its success and the risk factors follow until project execution.

Programme Risk Management

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If you have approached your project or programme well, you will have developed a Risk PlanStrategy document. Risk needs to be proactively managed, as opposed to allowing it to manage you and the environment around you.

Many people are afraid of risk management and some Project and Programme Managers are often reluctant to publicise risk to executive management. The reality is that things change, assumptions become false, expectations are not met and suddenly you can find yourself facing a very different looking environment.  For a risk plan to really help (and play its role) it needs to be accompanied by a ‘proactive’ approach by applying Risk Avoidance, Transference, Mitigation and Acceptance.