One of the most fundamental parts of successfully delivering projects is risk management
But its an area that most people have no clue about
Or at best pay lip service too
For me risk management has three fundamental benefits to your project
- It allows you to identify threats, issues and opportunities which are present on your project
- It allows you to put in place actions to either minimise the threats or maximise the opportunities
- It allows you to make an allowance for risk-based contingency on your project (both financial and time based)
So, remind me again why you don’t bother with risk management on your projects?
Next time you go late, over budget, a contractor lets you down or just in general things don’t go as you expected, ask yourself
“Could I have foreseen this as a project risk and done something about it”
The answer will almost always be
In order for us to provide the best possible service we can to our clients, we are one of only 5000 or so people on the planet to be certified by the world’s leading project management organisation as a Risk Management Professional.
Best practice is there for a reason – to be followed. No point in re-inventing the wheel!