Project Risk Management Archives

What is a Residual Risk & What is Secondary Risk? | Video

In this video, I answer the questions what is Residual Risk and what is a Secondary Risk? And also the term Inherent Risk, too.

Project Failure is a favorite topic for project managers. From pub conversations to formal reports, we love to discuss failed projects.

Risk Management is a big topic. But at its core is your risk mitigation plan… How will you deal with a particular risk?

A contingency plan is a valuable part of risk management. It won’t stop a risk happening, but it gives you steps to follow if it does.

There are 6 (maybe 7) strategies for managing risk. But one is the most powerful of all, if you can make it work: removing a risk entirely.

What if a disruptive event meant you don’t have access to your critical technology infrastructure or data? You need a Disaster Recovery Plan.

A project risk is simply ‘uncertainty that can affect outcome’. We rarely think of the differences in the kinds of uncertainties.

The Black Swan is a book about risk, by polymath, Nassim Nicolas Taleb. It has an essential lesson about risk management.

A Monte Carlo Simulation is a way to assess the level of risk across a whole project. So, it’s vital knowledge for any Project Manager.

Risk Management is one of the core skills of project management. And your Risk Register – or Risk Log – is the primary tool you’ll use.