Risk management is not a new concept but has been growing momentum as of late. Project managers are expected to know the risks inherent in their projects and give them the appropriate level of scrutiny. Definition Project risk is defined by the Project Management Institute as an uncertain event or condition that, if it occurs,... [Read More]| ProjectEngineer
So you want to learn about project management, but have been putting it off into the "one day" basket? Or maybe you're already familiar with project management techniques and would like to brush up on your skills. In either case, you're not alone. You've come to the right place. A few months ago I was... [Read More]| ProjectEngineer
Few projects go off without a hitch, especially when client/sponsor relationships are not strong. That's why I would argue that risk management is one of the most important components of project management. When unexpected events occur, it is clear that the identification and analysis of risks is a central cog in the wheel preventing small... [Read More]| ProjectEngineer
The first step in a good risk management plan is the identification of risks. The other phases of project risk management are built on this foundation. It involves developing a list of the potential risks to a project. This list is called a Risk Register. A good risk register might have the following six columns:... [Read More]| ProjectEngineer
In a proper project risk analysis, once the risks to the project have been identified (step 1), their probability and impact given a value and an overall priority (step 2), risk responses are drawn up (step 3). For each response plan, trigger conditions should be identified. These are the conditions that warrant the implementation of... [Read More]| ProjectEngineer
In project management, identifying risks to a project is a primary part of risk management. When brainstorming for risks that affect a project, a checklist is an invaluable tool. To that end, I will post the following list of risks. I don't anticipate it will include everything (maybe your office will be hit by a... [Read More]| ProjectEngineer
Risk analysis is an often omitted area of project management, probably because you can't see its results in a direct way. On top of that, small projects just don't seem like they have the time and budget to justify the time spent. But I would argue that analyzing risk is one of the easiest ways... [Read More]| ProjectEngineer
