I am wondering if there is a need for all three groups instead of relying only on the PMO or Governance Body? Is one group more effective than other with respect to Risk Management Planning? Saving Changes...
It comes down to the risk management professionals or experienced with risk (ie. the PM) rather than the entity name handling risk. So "more effective" for me isn't the department they work in; sometimes the entity makes it more difficult.
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1 reply by Demetrius Williams
Mar 07, 2018 7:38 PM
Demetrius Williams
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Sante, thanks for the feedback. I see your point about it is individuals evolved with risk management rather than the department itself. I was wondering what other colleagues experience has been with each of these types of groups when it comes to risk management. I read about a distinction between these three groups which made me curious. It appears the use of all three at same time may be more theory than in actual practice.
To add to Sante's feedback, it also comes down to the risk appetite and risk management maturity of the organization itself. A highly mature risk management group in a very low maturity organization will still fail miserably...
It comes down to the risk management professionals or experienced with risk (ie. the PM) rather than the entity name handling risk. So "more effective" for me isn't the department they work in; sometimes the entity makes it more difficult.
Sante, thanks for the feedback. I see your point about it is individuals evolved with risk management rather than the department itself. I was wondering what other colleagues experience has been with each of these types of groups when it comes to risk management. I read about a distinction between these three groups which made me curious. It appears the use of all three at same time may be more theory than in actual practice.
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1 reply by Sante Delle-Vergini, PhD
Mar 07, 2018 10:29 PM
Sante Delle-Vergini, PhD
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Hi Demetrius, I think one issue with having more than risk management entity in the organization is finger pointing to see who's to blame, rather than focusing on risk management. Certainly I would put in the assumptions that both risks will be adequately identified, and who or what entity is responsible for managing these risks (if not the PM) and/or response strategies.
To add to Sante's feedback, it also comes down to the risk appetite and risk management maturity of the organization itself. A highly mature risk management group in a very low maturity organization will still fail miserably...
Kiron
Kiron thanks for your comments as well. Saving Changes...
Sante, thanks for the feedback. I see your point about it is individuals evolved with risk management rather than the department itself. I was wondering what other colleagues experience has been with each of these types of groups when it comes to risk management. I read about a distinction between these three groups which made me curious. It appears the use of all three at same time may be more theory than in actual practice.
Hi Demetrius, I think one issue with having more than risk management entity in the organization is finger pointing to see who's to blame, rather than focusing on risk management. Certainly I would put in the assumptions that both risks will be adequately identified, and who or what entity is responsible for managing these risks (if not the PM) and/or response strategies. Saving Changes...
