Risk Management Process

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Quick Summary
Guidance on the steps to be followed when implementing a risk management process — a roadmap to get from risk-unaware to risk-aware and risk-ready.

What this is

Guidance on the steps to be followed in implementing risk management. The risk management process is simply a roadmap to get from risk-unaware to risk-aware and risk-ready. The risk management process is guidance on the steps that will and will not be included in the process as a whole.

This template was contributed by Carl Pritchard of Pritchard Management Associates, http://www.carlpritchard.com.

Why it's useful

The purpose of the Risk Management Process is to ensure that all of the appropriate steps are implemented related to risk management. It provides a common vision of what is and is not important to the organization from a risk perspective.

How to use it

The Risk Management process should be established by the project office in cooperation with senior management and the project managers. It should be consistent from one project to the next, but not necessarily from one organization to the next. Different organizations will have different areas of concern as regards risk processes. Also, the levels of depth may vary widely across organizations, as some have a passion for process, while others apply simpler approaches.

About the Author

Carl Pritchard is the principal and founder of Pritchard Management Associates and a recognized lecturer, author, researcher, and instructor. He is considered a leading authority on risk management, and writes and presents on a variety of topics, ranging from project essentials to the complexities of network diagramming and team motivation. His work as an instructor has taken him around the world, training with some of the leading international training organizations as well as for private clients and the Project Management Institute®. He is also the U.S. Correspondent for the U.K. project management journal Project Manager Today. Carl regularly consults and coaches on project management, presentation skills, risk, distance learning, and course development. He holds a B.A. from the Ohio State University, and is a certified Project Management Professional™ as certified by the Project Management Institute. To learn more about Carl and his work, visit www.carlpritchard.com.

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Risk Management Process