Mike Clayton

Risk Happen. Managing risk and avoiding failure in buisness projects

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Project management has become a big part of how all organizations get things done. Managers at all levels need to take on and deliver projects. The scope of these projects range from small projects lasting days to multi-million dollar projects taking years. All of these projects have one big thing in common: RISK. Risk happens! Things go wrong. As many of us have learnt recently, the real world does not respect your hopes, plans or expectations. It moves according to its own, if unexpected, agenda. So you need to respond with a practical approach to managing project risk.
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    Yulia Ogorodnikovaцитує2 роки тому
    The six fundamental strategies for managing project risk are:
    · Remove the risk
    · Reduce likelihood
    · Reduce impact
    · Contingency plan
    · Transfer risk
    · Accept the risk
    Yulia Ogorodnikovaцитує2 роки тому
    Some methodologies offer you a predetermined set of “causes”. In the manufacturing sector, the 5M approach uses machinery, manpower, materials, methods and money. The McKinsey 7S model offers strategy, systems, staff, skills, style, shared values and structure. PESTLE analysis focuses on political, economic, social, technology, legal and environmental factors.
    Yulia Ogorodnikovaцитує2 роки тому
    A RACI chart is a useful tool for tracking stakeholders and recording how they will interact with elements of your scope.

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