Risk management is at the heart of successful project delivery, helping teams anticipate and navigate potential challenges before they become major issues. On our blog, we’ve covered a wide range of topics in our risk management articles. In this collection, we’ve gathered the most popular risk management articles, offering insights into best practices, common pitfalls, and innovative strategies.
Whether you’re looking to refine your risk management process or tackle specific challenges, these articles are your essential resources. Bookmark this page so you can discover how to enhance your approach to managing risk across your projects and organization.
1. 8 Benefits of risk management beyond project control
Risk management is a core leadership approach that ensures any potential threats to success are identified and dealt with before they derail your project.
For a project manager, risk management is a key process for project control. Armed with a risk log and a switched-on team, the project manager can plan for any eventuality.
But risk management is far more than that. It has far-reaching benefits that can fundamentally change how a management team makes decisions. This article looks at eight of the lesser known, but equally important, benefits of a robust enterprise approach to risk management.
2. 7 impacts of poor risk management and what you can do about them
Poor risk management has the ability to severely impact your business. Whether that’s through a delay to project benefits impacting your revenue and profit streams, or one of the other effects that we describe below, poor risk management is something you can’t afford.
Luckily, you don’t have to put up with suboptimal processes. We outline seven of the most significant impacts of poor risk management in this article and tell you what you can do about them.
3. 7 risk management metrics to track
We all know that managing risk across projects, programs and your entire portfolio, is important. Risk management is something that’s embedded into the way businesses are run and into project management methodologies. However, beyond the risk log, what kind of tracking do you do on risk?
We’ve identified seven metrics you can use to track the way risk management is being managed in your project teams.
4. The pros and cons of risk assessment techniques
A core component of risk management is being able to assess the impact a risk could have on your project or business. Once you’ve identified a risk, you need to gather more information about it and use your professional judgement, amongst other data-driven tools, to think strategically about how it might affect the project.
There are lots of different risk assessment techniques. This popular article breaks down the advantages and disadvantages of questionnaires and checklists, workshops and brainstorming and inspection and audits.
5. Awesome risk management interview questions
This is a bit different from our other risk management articles, but it’s a popular read! Whether you are recruiting for a Business Risk Director, a risk analyst or a team leader with a significant focus on risk management, it’s important to ask the right risk management interview questions to find the best candidate.
We share 15 tried-and-tested risk management interview questions that you can use for sourcing the perfect candidate for your risk roles. And if you are interviewing for a risk management role, use these question prompts as a way to get ready for your meeting with the hiring manager.
6. 4 Major sources of risk on a project
Risk is everywhere, and your business is full of it. Projects are a specific risk zone because they focus on delivering new things and perhaps working in new ways. Newness always brings an element of risk with it.
If you are starting a new project, or considering your internal risk management processes, it helps to have a list as a starting point for the major sources of risk in projects. Your project managers and teams can use that as a starting point for brainstorming what could potentially cause problems during their work. We’ve done the hard work for you. Click through to read more about the major causes of project risk.
7. 3 Unusual ways to categorize risk
The risk identification stage of any project is a great opportunity to brainstorm and review all the things that may present problems later on. However, what you end up with afterwards is a giant list of risks. How do you manage them effectively?
The answer is to categorize risks and use that as a way to help prioritize them. Then you can spend your time on the risks that have the most potential to derail your projects, programs or portfolio. You’re probably used to grouping risk by owner, department affected, deliverable affected and so on. But there are other ways, and we’d suggest considering grouping by the nature of the risk, risk level and the amount of knowledge you have about them. We explain it all in this popular article.
8. 3 Common mistakes business make with risk management processes
Learning to manage risk effectively is a process in itself. PMO leaders and those charged with setting up strategies to tackle organizational and project risk have to review, reflect and improve as they go. That’s the only way to develop an appropriate level of maturity.
A good place to start is looking at things that commonly stop businesses from moving to the next level of efficiency and maturity. There are three common mistakes that process owners and executives make which could be easily avoided.
Are you making these mistakes?
9. The risk management process explained
With each project comes risk and that’s where a risk management process comes in. Managing risk is something that all project managers are responsible for, both in terms of risk assessment and mitigation strategy. Risk assessment involves both identifying, analyzing and evaluation of the risk and its potential impact. But how well do you know the process?
10. How to manage implicit risk
Now we’re getting into the advanced risk management topics! Implicit risks are the kinds of things that could cause uncertainty – and potentially trouble – for the project, but they stem from the way the project is set up and the environment it operates in. For example, the project context, decision-making structure, and the framework chosen to run the project could all cause implicit risks.