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Project Management Consulting |
copyright 2007-2010, Project Management Consulting
RISK MANAGEMENT
All projects have risks. These could include resource shortages, late changing requirements, budget shortfalls, overly high problem report rates, etc. Good project management requires managing against risks. Each risk should be identified. The top risks should receive regular attention.
Prioritize Risk
Risks should be prioritized. They should each have an owner empowered to resolve the issue.
Specific risks are far more detailed than those just listed. See the following Top Risks List for examples of problems and how they might be monitored and addressed. Clearly, each organization will need to tailor this approach to best fit its needs.
Top Risks List
Keep and publish a top risks list. Make sure project team members and stakeholders are aware of the top risks, the causes of the items on the list, the risk control activity being taken, and the status. As the project manager, you should be concerned about risks that are on your top risks list for too long.
Click here to download this Excel Worksheet, or on the spreadsheet sample below.
Rank This Week Rank Last Week Weeks on List Risk Description Owner Org Risk Control Activity Target Date Status 1 3 2 QA Org overbooked when schedule calls for project testing. Bob QA Coordinate with other projects to adjust testing schedule 8/1 Open 2 2 2 Code Management tool upgrade scheduled during build_2 Kim Systems Allow extra time in build_2 cycle for upgrade problems 9/15 In Work 3 4 4 Lead GUI developer position not yet filled Arthur Systems Pressure HR to give this position priority attention 9/1 Open 4 10 6 End users have not provided meaningful feedback on prototype Irene Business Analysts Escalate to next level of management in user community 7/15 Overdue 5 5 3 Development test systems overdue Dmitri Systems Track shipping and push assembly through on arrival 8/1 Pending 6 6 2 Five percent across the board budget cut Oscar Systems Work with Business Analysts to identify deferrable requirements 9/1 Open 7 7 2 System Architecture milestones missed Deborah Systems Accelerate progress through appropriate measures 9/15 Open 8 9 3 Need one more cube for new tester Bob QA Work with Facilities to identify possible solutions 9/1 Open 9 - 1 Key developer plans extended vacation in December under "use or lose" policy Arthur Systems Escalate to Division management for waiver 10/1 Open 10 - 1 DBA not attending project meetings regularly Pedro Project Office Escalate to DBA Management 8/1 In Work
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Dan on LinkedIn Twitter: DanFriedmann |