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Frequently Asked Questions - Risk Management

The P3M3 Risk Management perspective scope covers reviews the way the organisation manages threats to, and opportunities enabled by, the initiative.

Risk management will maintain a balanced focus on threats and opportunities, with appropriate management actions to mitigate the likelihood of any identified risk occurring. Risk management will look at a variety of types of risk that affect the initiatives from internal and external sources. Risk management will focus on the tracking of the triggers that create the risk.

Mitigation will be innovative and use a number of options to reduce likelihood and impact. The management of risks will be embedded within the lifecycle and have a supporting process and structures in place to ensure that the appropriate levels of rigour are being applied, with evidence of interventions and changes being made to manage risks.

These guides, articles and videos provide help with some of the concepts and techniques.

Are you wondering why risk management isn’t really having the ‘bite’ it should in your organisation. Have you got too many projects going wrong? After delivering over 500 P3M3® assessments we have a pretty clear handle on what makes organisations tick, and more importantly, the things stopping them performing productively.

In the following article,  we take a fresh look at the issue of the corporate risk management environment. One of the most common failings in P3M3® assessments is finding a dysfunctional risk management environment where each element of risk management is operating in isolation from the other elements. 

Read more here

Risk management should be the star of project and programme management, as it ought to stop things going wrong, however it is often seen as the poor relation. Let’s face it, thinking about all the things that could go wrong is hardly exhilarating and very few people talk about their great night in trawling through a risk register. The reality is that programmes and projects repeatedly go wrong and many of the causes of failure are very predictable. As part of our Seven Deadly Sins series, and as a critical component of successful projects and programmes, we have highlighted below the key reasons why risk management often doesn’t work. 

Read more here...

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