Mudassar KhanProgram (Project )Manager| Woodward Canada IncPeterborough, ON, Canada
What should a project manager do if a secondary or residual risk response plan creates additional risks during execution ?
How to eliminate all of the risks and enhance the opportunities? Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
You can never eliminate all risks until you close the project. There will always be different risks at different levels and in case a secondary or residual risk reponse plan goes south, you should assess and mitigate the situation if you can't eliminate the effect at all.
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1 reply by Mudassar Khan
Oct 30, 2016 1:46 PM
Mudassar Khan
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thank you Rami Kaibni :)
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Mudassar KhanProgram (Project )Manager| Woodward Canada IncPeterborough, ON, Canada
Oct 30, 2016 12:55 PM
Replying to Rami Kaibni
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You can never eliminate all risks until you close the project. There will always be different risks at different levels and in case a secondary or residual risk reponse plan goes south, you should assess and mitigate the situation if you can't eliminate the effect at all.
a) Secondary risks should be treated as any other risks. The answer to these risks can even originate terciary risks. It will stop when the new risks have low probability and impact and the answer is "accept".
b) It is impossible to eliminate all the risks and opportunities. Use management reserves for the "unknown unknowns".
NOHELY COLINALider de Proyecto| PETROPIARLecheria, Anzoategui, Venezuela (Bolivarian Republic of)
Proper risk management implies control of possible future events and that also include new risks,must also be able to quantify the risk and predict the impact of the risk on the project. The outcome is therefore a risk that is either acceptable or unacceptable. I belive you can no ever eliminate all the risk, you only manage them.
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1 reply by Mudassar Khan
Oct 31, 2016 7:29 AM
Mudassar Khan
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Thank you Nohely Colina,
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Drew CraigSr. Agile & Product Coach| VanguardPhiladelphia, Pa, United States
Some of those residual risks may have already been identified in the planning, categorizing appropriately depending on how it sits in the risk matrix. Eliminating all risks is the pot of gold at the end of the rainbow, its more so about identifying and mitigating. That is primary goal, and as close as one can get to the gold.
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1 reply by Mudassar Khan
Oct 31, 2016 7:29 AM
Mudassar Khan
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Thank you for your valued input Andrew Criag
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Mudassar KhanProgram (Project )Manager| Woodward Canada IncPeterborough, ON, Canada
Oct 30, 2016 2:28 PM
Replying to Mauro Sotille
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a) Secondary risks should be treated as any other risks. The answer to these risks can even originate terciary risks. It will stop when the new risks have low probability and impact and the answer is "accept".
b) It is impossible to eliminate all the risks and opportunities. Use management reserves for the "unknown unknowns".
Thank you Mauro Sotille Saving Changes...
Mudassar KhanProgram (Project )Manager| Woodward Canada IncPeterborough, ON, Canada
Oct 31, 2016 6:31 AM
Replying to Drew Craig
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Some of those residual risks may have already been identified in the planning, categorizing appropriately depending on how it sits in the risk matrix. Eliminating all risks is the pot of gold at the end of the rainbow, its more so about identifying and mitigating. That is primary goal, and as close as one can get to the gold.
Thank you for your valued input Andrew Criag Saving Changes...
Mudassar KhanProgram (Project )Manager| Woodward Canada IncPeterborough, ON, Canada
Oct 30, 2016 9:33 PM
Replying to NOHELY COLINA
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Proper risk management implies control of possible future events and that also include new risks,must also be able to quantify the risk and predict the impact of the risk on the project. The outcome is therefore a risk that is either acceptable or unacceptable. I belive you can no ever eliminate all the risk, you only manage them.
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