Risk is inherent in the nature of a project. So, that makes project risk management a central part of the project management toolset.
Don’t think of it as an add-on. Nor even as a discipline in its own right. Instead, it’s best to regard risk management as a thread that runs through the heart of project management.
I tend to agree with Tim Lister’s often re-quoted statement that:
‘Risk Management is Project Management for Grown-Ups’
What I take from this is that, when you understand how projects work, and can manage a basic project effectively, you will increasingly use project risk management as your primary framework for controlling your project.
Project Managers know that projects are risky. Project risk management is therefore a vital discipline.
Indeed, a focus on project risk is a sign of real project management maturity.
Dr Mike Clayton is founder of OnlinePMCourses.com.
Here, he answers this question, in under 5 minutes.
If you are taking on Project Management, you will need to come to terms with its necessary consequence: project risk. It’s a topic I’ll be covering a lot, over time, because it is so central to project management. I have already written, at length, about why projects go wrong. In this article, we’ll look at some of the sources of project risk.
In last week’s article, we looked at how to make robust project decisions. This week, I want to turn up the pressure to look at rapid decision making in projects.
What can you do to maintain the rigor, transparency, and reliability of your decision making, but also turn up the speed?
I was pleased to do an interview recently, for the Project Management Paradise Podcast. It was called Risk Management Explained.
You can hear the interview on their page. And do also browse some other excellent interviews, at Project Management Paradise Podcast. I certainly shall.