Project Risk Management helps to accommodate negative (or positive) impact of uncertainties, assumptions and unexpected events. It what separates a successful project from a failed one.

But the value of risk management goes beyond project that.

It helps to keep a project on schedule and under budget.

How?

Actions to mitigate or avoid the impact of risks become a part of project scope, budget, and daily activities.

Individual Project Risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.

Overall Project Risk is the effect of uncertainty on the project as a whole, arising from all sources of uncertainty including individual risks, representing the exposure of stakeholders to the implications of variations in project outcome, both positive and negative.

(Wow! What a confusing definition. I don't recommend reading PMBoK Guide to learn Risk management)

Learn about Guide to the Basics of Project Risk Management.

This guide is not an academic theory in a vacuum. I collected all my knowledge and experience through the lens of a Project Manager who did not manage risks in a systematic way. I put a lot of practical and actionable suggestions you can use at once.

  • Discover possible implementations of Risk Management on a project.

  • Get ready to use risk management framework

  • Master a simple Risk Management Plan that you can immediately apply on your project

  • Log, track, and control risk with a professional Risk Register

  • Learn how to Identify Risks and boost the process with 43 risk categories you definitely have on your project.

  • Become proficient in Qualitative Risk Analysis and work with risks that really matter.

  • Find out how to select appropriate Risk Response Plan

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Control Stakeholders with Risk Management

Once you master the basics of Project Risk Management, you will find a hidden benefit. It appears that business people and executives react to "risks" more eagerly.

They tend to help you mitigate the problems. They know - preventing risks is cheaper than dealing with consequences.

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