Continuity Risk as a New Classification in Project Risk Management

  Risk Management   Knowledge Shelf  

Abstract
In this knowledge article, the author is pleased to present a knowledge cross-over between project management and continuity risk management functions to the benefit of both professions. The article covers definitions, applicability of continuity risks to the project environment, a process to manage this from a practitioner perspective, and the benefits to project management by addressing continuity risks. Since project continuity risk is part of the risk domain, a significant leverage to project risk management processes is envisaged.

Introduction
The last decade or so has seen a great number of incidents that have had significant impacts on commercial businesses, government, and not-for-profit organizations. The nature of threats and their complexities are on the rise. Terrorism attacks, El-Nino-driven floods, Avian Flu, Ebola, and other incidents are adding up. Irrespective of which incident or where it happens, the impacts of these events and crises on organizations are ever-growing. Most such risks directly impact an organization’s ability to continue its services/objectives. Such risks are referred to as “continuity risks.” With the advancement of the global supply chain, the continuity impacts have a far-reaching geographical spread. Organizations do need to design, implement, and execute a robust resilience process along with a …

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