Just a few notes on Risk Assessment and Risk Management in response to enquiries and my work in this area.
A quick Google search has turned up a project management related Blog that looks good at first glance – OnProjects
Also try the source itself – the OGC
Also try the Wikipedia entry
The key message is that ant good risk management system will follow the obvious steps:
Identify what you are trying to protect
Identify what can go wrong
Determine the impact of failure
Identify the likelihood
Risk = Impact * Likelihood
Identify possible ways of reducing risk
Select based on cost effectiveness to reduce the risk to an acceptable level. Get management approval of the residual risk – it might make then realise what could go wrong and therefore provide more resource!
Risk Management options – Control, Avoid, Transfer, Accept
Te key thing about risk assessment and risk management is to keep it in focus. Don’t just identify risks and forget about them. Schedule reviews to keep the picture current.
