Risk Management is an integral and essential part of Project
Management which recognises the possibility that unexpected
events may affect the intended objectives of a project or
programme. The systematic identification and management of
risks addresses this and, through analysis, provides a picture
of the likelihood of project success.
The Risk Management process helps to
identify potential unacceptable cost increases, time delays or
shortfalls in performance and, by recognising what action can
be taken to influence the causes and/or consequences of the
risks, seeks to maintain the balance between customer
expectations (the Demand) and the preferred solution (the
Everyone contributes, the whole Project
Team and all the Stakeholders connected with a Project (e.g.
Customers, Suppliers). The Project Manager will usually be
held responsible should the project fail to deliver due to
risks not being identified or managed appropriately. For
financially large projects or where additional risk management
expertise is available to support the project manager it is
cost effective to use an independent person to facilitate risk
identification and management.
CMMI Ltd can facilitate Business risk reviews
with senior management, support to projects as risk manager or
simply facilitate a one of project risk review. The
independent one of risk reviews takes one hour to conduct and
can offer excellent in identification of risk and risk
Checklist - CMMI Ltd use a specific checklist to
ensure that all possible sources of risk have been considered
providing a structured means of
indentifying, and communicating business and Technology Risks).
The Orange Book