PROJECT MANAGEMENT TIPS: THREE Main Factors to Consider for the Implementation of Effective RISK MANAGEMENT System!
There are a few key successful factors of an effective Risk Management System, based on our experience and research:
(1) Support from Senior Management. The support of Senior Management is crucial to develop, enhance and sustain the Risk Management System. Similar to successful Quality Management Systems, the senior management can develop or enhance the Risk Management Vision, Strategy and Policy. This support, in turn, can promote risk awareness and successful risk management to project teams. A “Risk Coach” or “Risk Champion” can be assigned to provide coaching and guidance to project teams and align the risk management objectives to organization vision and strategy!
(2) Simple and Practical Risk Management Plan. Simple and practical Risk Management Plan is important for successful implementation and adoption of the processes and procedures. The Risk Management Template, for example, should be easy to use and update, and visible to all project team and other stakeholders. The template should include all the Risk Management processes, from Risk Identification, Analysis to Responses and continuous Monitoring and Controlling.
(3) Risk Awareness and Management Culture. Similar to the saying “Quality is everyone’s responsibilities”, an effective Risk Management System needs the support from all the project team members and other stakeholders. The Risk Coach or Risk Champion, for example, can lead the continuous effort in promoting risk awareness and management culture. This, in turn, will enable the teams to successfully utilize the Risk Management System to enhance the project success and reduce “fire-fighting” activities from your projects!
CareerGrowth™ has extensive project management knowledge and experience to assist you and your team to deliver better project outcomes! This includes our comprehensive “Project Management Training Modules”, “Effective Coaching™” programs, and “Consulting” services from our experienced trainers, coaches, and consultants to guide and assist your organization to achieve the next performance levels!
Check out our interactive and fun PROJECT MANAGEMENT & AGILE Certification Courses;
PMI-PMP® Boot Camp – PMBOK®Guide 6th Edition (4 days, 36 PDUs) Project Management Professional Certification
PMI-RMP®Boot Camp – PMBOK®6th Edition (4 days, 32 PDUs) Risk Management Professional Certification
Professional Scrum Master (PSM®) – (4 days, 32 PDUs) Assessment I, II (Based on Scrum.org)
Professional Scrum Product Owner (PSPO®) – (4 days, 32 PDUs) Assessment I, II (Based on Scrum.org)
PMI-ACP® Boot Camp – PMBOK® 6th Edition (4 days, 32 PDUs) Agile Certified Practitioner Certification