I know that risk management is heavily utilized in fields such as safety and aerospace. But are there other industries, such as business, that have embraced the risk management philosophy? Saving Changes...
PANKAJ KUMAR JOSHIGeneral Manager| Transrail Lighting LimitedNainital, Uttrakhand, India
It should be utilized in all kind of business eg. Why do you have insurance? Ans: risk transfer in case of emergency situations like medical, accident or death.
Risk management is the key to keep their business alive for a financial institute, a software company, a website, a nation etc. The risk nature and impact may be different in terms of time,money,safety etc but ultimately without risk management you can''t do anything. Saving Changes...
The reason I ask is because I am thinking about obtaining my RMP but I am not getting the feeling that risk management is being utilized very much outside of the aerospace and safety industries. It seems to be like insurance...people do not want to pay for it until after the flood. Saving Changes...
PANKAJ KUMAR JOSHIGeneral Manager| Transrail Lighting LimitedNainital, Uttrakhand, India
You can review the requirement of RMP with your current role.
It is being utilized in many fields but jobs are less than other certification like PMP. Saving Changes...
Karen MingainDirector| HealthNET Systems ConsultingVero Beach, Fl, United States
On large projects, I prepare a risk assessment and a risk management plan. I present it to the Steering Committee but I can tell you, in my industry, which is Healthcare - I haven''t found the level of support I would have expected when raising risks and risk management. Some industries are still in the knee-jerk reaction fix it mode as opposed to a more productive proactive approach.
I would have guessed that the healthcare industry would be an industry to embrace risk management for the exact same reason safety and aerospace do. That is surprising! One would think that their likelihood for litigation alone would drive them to active risk management. Thanks for he information. Saving Changes...
PANKAJ KUMAR JOSHIGeneral Manager| Transrail Lighting LimitedNainital, Uttrakhand, India
Some Common risks:
Banks; Your loan for a project or individual will be assessed based upon risk profile.
Project: Contracting risk, equipment/ material risk, litigation, scope arbitration, Weather risk etc,
Insurance: It is actually working because everything is a risk.
Medical: Risk on surgeries, medicines etc, u know it already.
Security; You know this.
Software: Programming bugs, virus, etc.
Transportation: Risk on road, shipping, etc.
Hope you understand risk is everywhere and its use is everywhere. How you can avoid, accept, transfer or mitigate it, is called risk management. Saving Changes...
Al TaylorI.T. Contractor| IndependentWaterloo, Ontario, Canada
good discussion ! Christopher...with your RMP you can be a leader in this area.
My current experience suggests that software development teams do a pretty good of identifying risks at the start of the project....but they do not re-evaluate the risks on a regular basis. Saving Changes...
Kevin ColemanSubject Matter Expert, Author, Speaker and Strategic Advisor| - InsightsPa, United States
There are multiple types of risk! Those associated with technology are typically left to be handled by IT. That should not be the case! It should not be just dropped in IT''s lap. Technology is so important to organizations'' today. That is why Harvard Business Review (HBR) just published a piece stating that "All Boards Need a Technology Expert." Saving Changes...
Risk management is being utilized, but I think RM is not being properly utilized.
In different areas and its projects, specially in Telecommunications, Finance, Government and Transportation, RM is utilized only for register information in documents or templates, but not necessary this information generates benefits for its projects.
Sponsors, Functional Managers, Project Managers and Management teams, will have to work in generate culture in Risk Management in all organizations and in all different areas. Saving Changes...
Karen MingainDirector| HealthNET Systems ConsultingVero Beach, Fl, United States
Christopher - I believe at some level they do look at risks, but when I worked on certain projects (ICD-10) and had a complete risk management plan - it really wasn''t embraced as much as I would have liked. If there was a risk to patient safety - certainly embraced. Or risk to a HIPAA violation. Saving Changes...
