A project manager notifies the project sponsor that the mitigation strategy for a major risk did not work .How might this situation have been avoided? Saving Changes...
Sort By:
Deepesh RammoorthyICT Project Manager ( PMP®AgilePM®Certified ScrumMaster® (CSM®))| Australian Red Cross Blood ServiceTarneit, Vic, Australia
Identification of all possible causes contributing to the risk in question. periodic evaluation of the impacts, urgency and priority of the risk. Questioning the appropriateness of the risk mitigation strategy. Constant monitoring of the effectiveness of the mitigation strategy. Communication of the current status and updates to the mitigation strategy to the relevant stakeholders. Clear, unambiguous ownership and accountability of the risk by the assigned stakeholder. Checking for any residual risks, if the controls and mitigation strategy were deemed to be effective.
Sometimes in spite of best efforts, this situation cannot be avoided. Saving Changes...
Vishakha SharmaPMP, PSM, Sr Project Manager, Agile and Scrum, Delivery Manager| Artha Learning, Swiftwin, Tech Mahindra Ltd, Upside Learning Solutions Pvt LtdPune, Maharashtra, India
Thanks for sharing this scenario, and this is likely to happen in many projects. Looking at the situation, it will be a good practice to analyze and evaluate the mitigation plan as well. Find alternate options and select the best course of action. The risks arising out of the mitigation plan - the secondary risks - also needs to be taken into account and a plan needs to be in place for those as well. This might help in the scenario you have stated.
This would be time consuming and might add up to the overall risk management time allocated in a project however will help in the longer run. It will be up to the Project Manager to decide which risks needs a detailed analysis and which do not. Saving Changes...
Asif GulConsultant Project Manager| Energoprojekt EntelMuscat, Oman
This clearly relates to Monitoring & Controlling part of Risk Management framework. Saving Changes...
It really depends on the nature of the mitigation response. Mitigation implies either attempting to reduce the probability of risk realization and/or the impact if the risk is realized. There could be any number of possible causes including:
- Underestimation of the probability or impact of occurrence
- Underfunding of the mitigation response
- Poor timing of the mitigation response
- Insufficient planning or insufficient stakeholder involvement in developing the mitigation response
