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24 January 2007

Risk Management 101: Raising a risk

Different project managers and business analysts have different approaches to risks. Some only want important risks flagged others only want risks flagged that are specifically related to the project’s scope and others, like me, like to capture all risks identified by the project team and stakeholders. The important thing to remember is what you’re there to do, and how risk identification can help or hinder your efforts.

Regardless of the threshold for entry onto your risk register it is critical to have one and to pro-actively manage risks. Many projects hold risk workshops early in the project and leave it at that. Some hold risk workshops at the beginning of each phase of the project and others hold weekly or fortnightly risk meetings where issues are raised and managed.

The savvy project manager has a team that are always identifying and managing risks, and using meetings as a forum for managing the most complex and important ones.

There are plenty of articles on the internet which suggest that for certain kinds of projects, and at different stages of the project lifecycle, you should be aware of some pretty constant and common risks. Have a look for some in your field.