Risk Management on Projects

How does project risk management differ from any other type of risk management? Well in most regards it doesn't. However, since it is a project focused activity it will help simplify the overall focus by looking at the core job principles of scope – which are cost, quality and time. Keep in mind I will test you later!

There are quite a few very good Training videos on YouTube that pay this principal. I've added a few below to help bring home the point of this report. I find watching a demonstration often easier to take in than researching some else's thoughts.

Project Risk Management

So what is job Risk Management is all about? In an earlier essay, I discuss what risk and risk management are all about. On projects, we discuss danger as any event that may result in an unplanned change to the scope of the job – i.e. impact the project costs, timeline or quality of the deliverables, or any combination of these three.

Step 1: Using a Risk Management Plan

This implies establishing a Process and procedure and receiving complete buy-in from stakeholders at how the company will manage risk management for the occupation.

Step 2: Risk Management Identification Methods

Where do you start in the Identification of risks around work? There is a great deal of risk management procedures and David suggests a few which are excellent. However, I like to take a step back and make a list of all the important elements of a project on the basis of "if this task doesn't occur is it a show stopper.