project management Risk management

 

 

 

Risk management in projects

 

riskmanagementThe importance of risk-management should not be a big question when it comes to project management, because project management is in fact a professional way to control the risks of a project in the first place. The exercise of analysing risks involving your project is a good way for a projectteam to really think the project through.

When you finish your projectplan with the subject of risk control, you should have a good and complete plan because there has been thought about all parts of the project by all team members from all kinds of different angels, not at least ofcourse by the project manager.

 

Analysing the risks

When you practice making a risk analysis, you will find out it's pretty basic stuff to begin with, and should not be very hard to do in any kind of project. Here are the basic steps in setting up a good risk control system:

  1. Name all the risks you and your team can come up with for your project.
  2. Judge the probability a risks might occur.
  3. Judge the consequences of the risks.
  4. Combine the probabilities and the consequences.
  5. Formulate the most important risks
  6. Formulate countermeasures against those risks.
  7. Formulate an actionplan on those risks.
  8. Monitor and act on the risks using the actionplan.
  9. Evaluate the risk analysis and make changes if necessary.

 

 

Follow up and update your risk management

dont fall downDon't forget to monitor the risks and update if nececerry. Risk management is important, and should be dicussed within the projectteam reguarly. You could turn to a specific risk-manager to help you setup a good risk control system.

There are various risk-models that can be found and you should look for a system that fits your goal, organisation, team and project. At all times you should keep control over your project so you can manage risks and chances.

 


 

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