Risk Management – II – Risk Occurrence and Response

The Picture above depicts typical response needed for the occurrence of Risk at various project stages and impact on the Project Goal. Before getting in to the response needed, few definitions here. Risk – An undesirable situation or circumstance that has both a likelihood of occurring and a potentially negative result. This is typically a likely future event based on various project variables and not yet occurred. The impact is not Read More …

Risk Management II – Benefits of Risk Management Program

The earlier article on Risk Management is Risk Management I – A proactive approach to resolve future root causes and their potential consequences. Purpose of a Risk Management Plan Risk management program helps the organization to deal with potential occurrences.  It defines the approach and attitude towards risks. This program helps in identifying what are those risks the organization is ready to accept. The plan to deal with those unacceptable risks defines Read More …

Risk Management I – A proactive approach to resolve future root causes and their potential consequences.

Risk Management gives the visibility on the future root causes, their consequences and ways to reduce the impact of the potential negative effects of these future root causes.  The underlined words “Future” and “potential” here indicate, it is a futuristic strategy of the organization. Risk Management can be applied at all levels of the organization. It can be applied at project, level, unit level or at organization level. Risk Management is Read More …