S RajasekarSenior Project Manager| AllscriptsBangalore, Karnataka, India
it depends on the PM and Organization , Yes most of the places it is not done effectively most places we just monitor project scope,schedule and cost...and do risk management around these on high level
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1 reply by ADARSH SADANANDAN
Mar 16, 2017 3:24 AM
ADARSH SADANANDAN
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Exactly, it is not given importance in most organizations.
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Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
First of all, I have to ask: what does mean "true sense of the word?". Second, I have to say: project risk management must be implemented from planning not from execution. Third, let me say: the only thing people naturally do when work in projects is to talk about risk and issues which are the basic of project risk management. But they usually did not know that.
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1 reply by ADARSH SADANANDAN
Mar 16, 2017 3:32 AM
ADARSH SADANANDAN
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True sense of the word-means not given the importance it deserves.
Agreed,R/A starts from planning and it is carried forward into execution, often reviewed for new risks identified and closing out risks that are no longer valid.
This will run thru the entire project life cycle.
Yes but not
I have notice that depends of various factors, such as enterprise politics, or PMO if it exist, the kind of project or area and anothers
This is becouse in some areas people think that identify and control main risk is enought.
In the other hand, in some projects no one risk must to be dismissed
but you must to be consisten and always manage risks to avoid it as many as you can Saving Changes...
Mark EckmanSenior Project Manager, PMP| VeoliaEmporia, Va, United States
Risk management is an iterative process that begins, at a high level, in the initiation phase and continue through the planning phase into the execution of the project. It is an ongoing process and not something that occurs once and you are done.
The emphasis or importance that is placed on risk management and the effectiveness of the approach used is up to the project manager and project team to develop and maintain throughout the entire lifecycle of a project.
I cannot speak for other project managers, but as for the projects that I have led, risk management has been a very tangible component as much as any other management area, (cost & schedule management, procurement management, etc..). Risk management to me is not to fulfill an obligation or check off a spec box on a checklist but one of the many tools I have to ensure a successful project.
I encourage you to find ways to influence your project teams to reexamine how important risk management is for the success of your projects. Revisit PMBOK and other resources to find better and more creative ways to implement risk management as a team.
I do agree that there are probably many companies and project managers that only pay lip service to risk management to fulfill a checkbox and they eventually pay the price for the lack of buy-in to a sound risk management approach.
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4 replies by ADARSH SADANANDAN, Demetrius Williams, Jess De Ocampo, and Sungjoon Park
Mar 15, 2017 12:02 PM
Sungjoon Park
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I do agree on your explanation. Thank you for sharing your experience and I really like your comment "Risk management to me is not to fulfill an obligation or check off a spec box on a checklist but one of the many tools I have to ensure a successful project".
Risk management need to be put in place early in the project, not just for execution.
What is "true sense of the word"? You mean not a smoke screen!
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1 reply by Jess De Ocampo
Mar 16, 2017 10:25 PM
Jess De Ocampo
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I agree with you. Risk assessment/management is documented in the project charter before the project kick-off. It is a must requirement for every project.
Implementing any actions to avoid the discrepancies between actual works and requirements in the specifications might be one of approaches for risk management.
Unfortunately we found that the practical risk management in construction project might be harder than we really expect due to the complexity and uncertainty of nature in many estimates or plans of the project.
Especially in construction domain of which project duration is longer, one of reasons for ineffective risk management is that current approach, say, predictive approach forces us to estimate and plan the works much in detail regardless of inherent uncertainty of nature of the works in the future. So almost all activities in the long run might eventually have unexpected events which even we could not incorporate into risk management. Revisiting and updating, as needed, the risk management plan and risk register including action plans should be done even from very earlier stage of project. Problem is that these are always associated with additional costs and time, which contractual parties can't bear in many cases. Saving Changes...
Risk management is an iterative process that begins, at a high level, in the initiation phase and continue through the planning phase into the execution of the project. It is an ongoing process and not something that occurs once and you are done.
The emphasis or importance that is placed on risk management and the effectiveness of the approach used is up to the project manager and project team to develop and maintain throughout the entire lifecycle of a project.
I cannot speak for other project managers, but as for the projects that I have led, risk management has been a very tangible component as much as any other management area, (cost & schedule management, procurement management, etc..). Risk management to me is not to fulfill an obligation or check off a spec box on a checklist but one of the many tools I have to ensure a successful project.
I encourage you to find ways to influence your project teams to reexamine how important risk management is for the success of your projects. Revisit PMBOK and other resources to find better and more creative ways to implement risk management as a team.
I do agree that there are probably many companies and project managers that only pay lip service to risk management to fulfill a checkbox and they eventually pay the price for the lack of buy-in to a sound risk management approach.
I do agree on your explanation. Thank you for sharing your experience and I really like your comment "Risk management to me is not to fulfill an obligation or check off a spec box on a checklist but one of the many tools I have to ensure a successful project". Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Great feedback from Mark.
Risk Management is very important and it should be implemented properly throughout the life cycle of the project. Saving Changes...
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
I usually scale the risk management processes to fit the project size. For example, I would not likely do quantitative risk analysis on anything but large projects.
The one big factor that may control how much risk management you do is the type of contract. If you are operating under a fixed price contract, you probably want to do no more risk management than you need to be effective. Saving Changes...
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