From the course: Strategic Project Risk Management

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Managing program risks

Managing program risks

From the course: Strategic Project Risk Management

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Managing program risks

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- Ever felt like you were trying to solve a jigsaw puzzle without the picture on the box? That's a bit what managing a program feels like. In a program, a collection of interrelated projects, each project connects to the next. It's your job as a program manager to make all these pieces click, revealing the overarching picture. But here is the twist. Each piece or project carries its own set of risks, and then there are the program risks, those related to the connections between the projects and those in delivering the entire picture. There are six major types of risks programs typically face, starting with strategic risks. Strategic risks pop up when your program's objectives start drifting away from the organizational goals. Maybe the market shifts or the company's strategy changes. Handling these risks might involve regular strategic reviews and adapting your strategy to keep everything aligned. For example, a major retailer chain planning to expand into emerging markets might face…

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