Risk management

What is risk management

To make sure that you have all the various project risks are in control it is good practice to assign a risk officer.  Someone who’s role is to track the various issues and resolutions, but who isn’t closely involved in the project as he needs to see the big picture.  Although he should be in charge of risk monitoring, all the team members should not hesitate to report concerns or challenges.  All those issues should be precisely entered into a risk database as to make sure they are easily retrieved.
Successful Risk Management consists of those main steps including:

  1. Identification of the potential risks and issues
  2. Produce an action plan in case the risk happens
  3. Finally it is import to control and monitor to make sure that the right action plan is executed

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