On International Project Management Day ( 3rd November 2011), the Project Management Institute of Zimbabwe invited PM.Ideas to present at their inaugural PM conference in Harare. The theme was "Project Management - the Power of the Profession" and was attended by approximately 100 people, including ...
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| Friday, 6 January 2012
On International Project Management Day ( 3rd November 2011), the Project Management Institute of Zimbabwe invited PM.Ideas to present at their inaugural PM conference in Harare. The theme was "Project Management - the Power of the Profession" and was attended by approximately 100 people, including Zimbabwes 4 PMP® graduates. The following paper was delivered by Adrian Lovel-Hall at the conference, and rings true for projects and programs globally.
Risk management, commonly viewed as negative or reactive, is actually a positive and proactive management technique. For all of us, we deal with risk on a daily basis - be it at home, family, work and the environment.
A risk, when identified creates a number of responses for groups and for individuals. Reactions can be extreme, leading to bad, wrong or even fatal decisions. When not dealt with effectively and proactively, the initial and often lingering effects could have an untold impact on the individual, and in turn their lives, families, friends and work. It is when we understand risk as an opportunity or threat, and create a response and reduce the impact if it occurs, we will embrace the situation proactively.
David Hillson, the Risk Doctor The Risk Doctor , has defined risk as having one or more causes, which will create a possible event, resulting in one or more effects on deliverables. All risks need to be identified against what we have planned to do. Should the cause create multiple events, then there is a need to manage more risks.
Organisations face risk at all levels. Lets have a look at couple of examples:
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