Take a Risk (Part 1)

  Work Breakdown Structures (WBS)  

Uncertainty is the biggest enemy of the project manager. In other words, what you don't know may hurt you. Uncertain events, obstacles and issues always crop up when they are least expected and for every step you take forward, you find yourself sliding two steps back.

Thinking hard about how you're going to deliver your project scope is important, but it's even more important to think about what can prevent you from completing your project. That means taking a proactive approach to managing risks before they happen. While you can't prevent risks from happening, you can greatly reduce the negative impact on your project's scope, schedule, budget and quality.

And this is where the PMBOK risk management can really make the difference. The PMBOK defines risk management as the systematic process of planning, identifying, assessing and handling project risks using the six processes of risk management planning: risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning, risk monitoring and control. In this article, you will learn how and why using this risk management approach can greatly increase the chances of delivering your project on time and on target.

Risk Management Planning

Contrary to what you might think, risk management planning isn't about figuring out what the risks are and how to handle them. That will come much later…

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