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Best practices, control over the processes, maturity and the right “gut feeling”. That is what we want to achieve with risk management, and as a natural part of every sensible project model, follows the integration of processes and scope for risk management. However, isn’t risk management just a cover? How many times haven’t we seen that the actual and dangerous risks have been accepted while we failed to see the ticking bomb that the accepted risks pose as?
We often accept risks that are outside of our domain of decision or due to other reasons that we cannot always control or influence. Though, isn’t this exactly where risk management has momentum? As opposed to handling many small risk projects that could in reality be handled with project tolerance and other tools that are within that project.
If we set the minimis level high in our risk management, and drill more into the accepted risks, then delays, scope-changes and failed projects will be minimized. At the same time, risk management will be raised to the level of management that it should have, as opposed to being a systematic review of concerns and endless lists of trivialities to demonstrate that we follow best practices.
Best practices are the foundation, while management and challenges with decision patterns is where risk management is elevated from the basic model. How often haven’t we heard, that you should not fight the settings, but embrace them? In reality this is where we can change the success rate in our projects, by simply removing just one accepted risk from each project that we plan to execute. It hurts, and battles must be fought, and we have often changed title or job, in the meantime, and this results in the fact that we do not even see the effects of the ticking bomb that we initially accepted.
Risk management is more than just a process, it is management and having an attitude and willingness to change the difficult things.
Peak can help facilitate and articulate this complex task and set the minimis level high in your organization. Moreover, we can help train your organization in becoming more aware when accepting risks.