Every project has some specific risks - the challenge is to identify all of the most relevant and threatening risks and take the appropriate action to reduce the threat to your project. Simple.

Some risks require no action. Some require only some contingency planning in case they occur, while others need to be addressed and managed down to an acceptable level. Knowing which is which and why is what this Guide enables you to determine.

It introduces some simple disciplines (too often missing) such as

• requiring all risks to be stated as risks - too often lists of risk exist but it is difficult to work out what the risk actually is

• requiring all risk plans have ‘desired risk outcomes’ - where you want to end up in terms of this risk. Most risk plans only say what they’ll do, but don’t define the measure of success, the resultant risk state

• enabling effective risk governance as the governance team knows what it is looking at and what questions to ask

Overall our approach has been shown to 

• reduce your risk management workload
• reduce your project’s likelihood of failing
• enable you to identify and cull ‘undeliverable’ projects early
• align all elements of risk management to make it simpler

This Guide is directly supported by the “How to manage your project deliver risks” and “How to manage your business impact risks” so that together they give you a comprehensive and comparable basis for managing your risks and your portfolio’s risk profile.

How to manage your project-specific risks

1. Understanding the risk management process
2. The end-to-end risk management process
3. How to identify all of your project’s risks
4. How to facilitate a risks identification workshop
5. How to clarify and classify project-specific risks
6. How to determine your risk management strategy
7. How to generate a risk management action plan
8. How to govern your project’s risk management strategy
9. How to track project risks
10. How to manage your project risks
11. How to report risks
12. How to govern your risks
13. How to monitor your risks
14. How to conduct a post-project risk management review

• Project teams - to understand how to identify, classify and then manage their project’s risks
• Governance teams - to understand how their project’s risks are identified and should be managed and governed
• PPMOs - to understand how the risks are identified and classified for central review
• Auditors - to understand how risk management should operate
• Project Investment Committee/Board - to understand how the project risks are identified, classified, managed and governed
• Risk Management Officers - to understand how project risks are managed

• Provides a common, easy basis for project risk identification and classification
• Builds the risk management processes into the standard project delivery processes
• Ensures risks are stated as ‘risks’ and can be understood by all
• Ensures that the risk actions actually address the identified risk
• Provides a classification process that highlights the serious risks
• Enables the risks to be both managed and governed effectively
• Makes simple an area too commonly made complex

Coming soon