A great percentage of all risks can be eliminated or greatly mitigated through basic risk management tactics.
Below are a number of sins of Risk Identification with appropriate links:
- Risks are not identified early when it is less expensive to address (Proactive Risk Management and Key Risk Indicators)
- Risks are not identified in an iterative fashion (Free Presentation)
- Risk are not identified with appropriate stakeholders. (Stakeholder engagement and Risk Management! & “Stakeholder Register”)
- Risk are not identified using a combination of risk identification techniques (Identify Risks (Threats & Opportunities)
- Risks are not captured in one location (The risks when workplace automation replaces humans & Procurements and Risk)
- Risks are not visible and easily accessible (A strong connection of Assumptions, Constrains and Risk Management)
- Risks are not captured in a consistent format (e.g., Cause -> Risk -> Impact) (Cause – Risk – Effect Format in Identify Risks)
After reviewing this article try to refine the risk identification strategy of your current or upcoming projects. Then perform the appropriate changes in your Risk Management Plan!
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