article thumbnail

Uncovering the Benefits of Clear Risk Statements

Project Risk Coach

I've looked at many risk registers through the years, and I've had difficulty understanding the risks many times. The risk statements were vague and lacked consistency. In this article, let's explore the benefits of clear risk statements. An accurate picture of one’s risk is important for making sound decisions.

Risk 397
article thumbnail

4 Tips for Developing a Risk Management Plan

Project Risk Coach

Planning is a powerful Quadrant II activity that can save you time and energy. Let’s talk about how to plan your risk management. First Things First Some people think of risk management plans in the wrong way. Risk management plans are not a list of risks and how you plan to respond. What are your risk thresholds?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Project Management Process Groups: A Quick Guide

ProjectManager.com

To keep to your schedule and manage costs, you need to gather and process project data throughout the five PMBOK project management groups. What Are the 5 PMBOK Project Management Process Groups? Project management software helps project managers stay on top of each of these process groups. Risk control. Initiating Phase.

Process 312
article thumbnail

7 Ways to Identify Risks

Project Risk Coach

Successful project managers have a common trait – they identify and manage risks. Let’s look at seven tools and techniques to identify risks. They get the team together, identify lots of risks, and enter them into an Excel spreadsheet. However, the risks are never discussed again. When to Identify Risks.

Risk 306
article thumbnail

Project Risks and Issues – What’s the Difference?

Project Risk Coach

And it's costing you more time and energy than you thought possible. Well, let's talk about project risks and issues, the differences, and why it's so important to manage risks. What is Risk? Let's examine a risk statement and underscore some key attributes of risks. So, how does an issue differ from a risk?

Risk 265
article thumbnail

PMOs Shifting from Watchdogs to Strategic Enablers

Project Risk Coach

The CEO may not engage the PMO manager in the strategic planning process. Engage in Strategic Risk Management Strategic risk management is a process for identifying, analyzing, and managing risks most critical to the achievement of your organization's goals.

PMO 457
article thumbnail

Industrial Construction: Examples of Industrial Projects

ProjectManager.com

The permitting process is also different. There will also be heavy ductwork and high-capacity systems for ventilation and exhaust to remove any harmful chemicals and fumes released during the manufacturing process. This energy needs to be then delivered outside of the building, all of which creates a complicated and long process.