From the course: Strategic Project Risk Management
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Risk management roadmap
From the course: Strategic Project Risk Management
Risk management roadmap
- Piloting an airplane through thick clouds poses a significant challenge. You cannot see what lies ahead, and the route remains hidden. This video introduces a risk management roadmap, much like a pilot's navigation system, designed to steer our projects, programs, and portfolios safely through any uncertainty. This roadmap, as detailed in our exercise files handout, consists of several critical sections. Section 1, Definitions and Glossary. Start by defining essential terms to ensure everyone across the organization is on the same page. This includes distinguishing between project, program, and the portfolio risks and explaining various risk types such as variability, event, ambiguity, and emergent. It's also vital to categorize risks as operational, strategic, financial, environmental, and so on, and to create a comprehensive glossary for clarity and uniform understanding. Section 2, Risk Management Policies and Procedures. Outline your overreaching risk management strategy here…
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