TABLE OF CONTENTS In this chapter, I ll discuss the how-tos of managing risks. The first step, of course, is to identify risks. I ll start by discussing a high-level overview of the identification process. This will include looking at categories of risks and describing the types of risks you may encounter on a typical project.
Then I ll show you places to look to uncover risks, who to ask for assistance in the process, and some techniques for generating ideas.
Next I ll discuss the importance of documenting risks. This will include a description of the difference between risk originators and risk owners. Finally, I ll wrap up with a checklist of the steps involved in the risk identification process that you can use on your next project.
Since project managers (PMs) primarily focus on the negative aspects of risk okay, the really bad things that can happen and ultimately prevent us from completing the project identifying risks is a little like playing the pessimist. The sky could fall in, a key team member could win the megajackpot, or the big boss could decide to switch gears on everyone and cancel the project altogether. But the purpose of this process isn t to play the pessimist. The purpose is to identify risks so that you can analyze them for their impact on the project and determine which ones need response plans. Additionally, risk identification involves identifying risk triggers, which are signs or symptoms that tell you a risk event is about to occur.
It s important to...
