How to prepare your projects for risk and ensure they are successful!
Not sure how to approach project risk management to ensure that your projects don’t fail? Risk management is not something you can overlook in project management.
I’ve been in project management for over 20 years and I have NEVER come across a project that did not have a risk pop up. This just goes to show how important it truly is to give the necessary time and attention to risk management on any project.
What is risk, by definition?
Let’s start with an overview of the definition of risk. Risk is the possibility that a project, event or task will not occur as planned or that unplanned events will occur that will have a negative impact on the project.
Why worry about risk?
When it comes to project management, you want to increase the probability of positive events and decrease the probability of negative events. Sounds simple, right?
This actually takes quite a bit of planning and thinking ahead. You cannot adequately deal with a risk if you’re scrambling, and if you’re scrambling then you won’t come up with the best possible solution. This is why spending time on risk management is so important.
Where do you start?
Hopefully, you would have done some initial planning around risk in your project charter. You can use this information to figure out where to start on your risk analysis.
Once you’re in execution mode, you’ll want to get your project team together. They’re subject matter experts that have a critical perspective when it comes to the analysis of risk.
But what are you actually looking for?
By now, we’ve established the importance of risk management on projects. So, I really don’t want you to overlook this. That’s why I’ve created a video that goes into more detail about everything I’ve mentioned here AND provides you with an overview and guidelines on how to do risk analysis on any project.
Please, don’t stop here. Make sure you check out the video so that we can turn you into a risk management pro (and that means no more failed projects)!
I really hope that you found this helpful – and if you did, it would mean so much to me if you would share it on your social media.
Meanwhile, if you really are committed to mastering your next project, do consider taking my SLAY Project Management online course where I show you step-by-step how to successfully manage a project, plus you get access to every template you will need, along with detailed video instructions on how to fill them out.