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Getting Energised About Risk

It’s hard to get energised about risk, especially since risk is inherent (like one spaghetti-sauce maker claims: “It’s in there”). As we explore potential risk events, they grow. So, the real issue is not how to get rid of risk, but rather how to manage it. And, although that takes a lot of time and energy, perhaps new perspectives can be gained if risk is looked at from a project life cycle perspective.

In the initiation phase, we look at risk from two positions and also from a fairly high altitude. The management question is: What is the risk of taking on this project versus not taking on this project? The project manager’s risk questions are: What do I know and what don’t I know about this project? How is this similar to past projects that we’ve worked on? Who do I need to talk to?

These are two different orientations, and the questions from both management and the project manager need to be shared, as the answers will offer additional information to all parties. Also, the project manager and executive management need to fully understand and accept that risk is inherent so they will be ready for conversations and decisions as risk issues arise.

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