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Warming up to Risk Management

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Categories: Activism


My brother-in-law is in law.  He's an attorney, in other words.  One day, he was sitting in his (at the time) new Volvo sedan, equipped with what were at the time the newest safety feature - driver's air bags.

He was at an intersection, and had stopped for a light.  The lady approaching behind him also stopped, but at some point, she hit the gas instead of the brake, and hit my brother-in-law at low speed but with some force.

The air bag deployed.  Did it ever.  It deployed right into his rib cage and caused severe rib cage bruising.  Police later told him that had the air bag not deployed, he wouldn't have had any injuries.  He would've been just fine.

 

So why do I tell you about my brother-in-law-in-law?

Because really, this is a story of risk response (the air bag) and secondary risk (injuries attained from the primary risk response).  And it serves to introduce us to a major intersection of sustainability and PM.  Since PMs manage projects which - by definition - are about change and are -by definition - about uncertainty (since they are unique), we care alot about risk.  Alot.  It's a knowledge area in the PMBOK(R) Guide and a separate certification from PMI (the PMI-RMP(R)).

So we study risk identification, risk triggers, risk response methodologies, secondary and residual risk.  Makes sense.  In the case of my brother-in-law-in-law, the trigger for air bag use is the experience and knowledge of the insurance and safety industry, and in particular, the vehicle in question detecting an impact.  The secondary risk was the injury from the air bag.

Speaking of risk triggers, here is a story about a risk trigger:

Remote Antarctic Trek Reveals a Glacier Melting From Below

We hear about the Arctic ice melting, not much about the Antarctic, partially because of its even greater remoteness.  The team studying this glacier had to travel 1800 miles from an already-remote base station to conduct their research, which happens to correlate perfectly with data from satellites:  ice is melting there at a rate of 2 inches per day.  If this entire glacier, the Pine Island Glacier, were to melt, global ocean rise would be in the order of FEET.  So I suppose we could identify this at least as a risk trigger.

 

And what about risk response?  The "Whatareyagonnadoabouddit" part of risk management.

Keeping in line with EarthPM's last post about volcanoes, here is an interesting story about risk response to global warming, from today's Boston Globe.

 

The story begins: The 1991 eruption of Mount Pinatubo, a volcano in the Philippines, blasted enough fine particles and sulfur dioxide gas into the atmosphere to envelop the Earth in a high-altitude cloud for the better part of two months.

When scientists checked in 1992, they determined that the cloud had deflected enough sunlight to cool the planet by about 1 degree.

With the planet warming and the threat of long-term climate change looming, some experts are wondering whether the time may have come to deliberately attempt such ‘‘solar radiation management.’’

So maybe we start expunging particles into the air to cool the planet?

Sounds like an "early generation air bag" to me.

What do you think?

At a minimum, the two stories hoepfully come together to raise your awareness of just how connected Project Management is to the field of risk management.  And because both the expedition to the Antarctic and the experimentationwith 'solar raddiationmanagement' are projects, we again see strong intersections between sustainability and our discipline of Project Management.


Posted by Richard Maltzman on: September 15, 2013 11:29 AM | Permalink

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David Augusto Borja Padilla Consultant| Independent Quito, Pichincha, Ecuador
Hi Richard and Dave, thank you for your ideas.

Risk management is a key succesful factor for project succes but, even thought some people knows that because PMBOK(r) has an entire knolwledge area for this topic, making it on practice is poor.

The main reason is because it takes time and some team members or CEOs do not have it.

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