Summary of Using Risk Management in Your Projects

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Risk exists in every phase of a project, and the project manager’s role includes managing that risk. Ken Lynch, founder and CEO of compliance software maker Reciprocity, offers a brief introduction to managing project risk. His concise article for PM Times outlines a six-step process for risk management and gives insights into agility.

About the Author

Ken Lynch, an enterprise software start-up veteran, is the founder of Reciprocity, a maker of compliance software.

 

Summary

Project managers should treat risk management as a continual activity.

Organizations must monitor projects for risk throughout the entire system development life cycle, so they can control potential impacts. A risk management protocol can ease the task of risk assessment and management. Such a protocol could include tools, templates and training and should become a component of daily management routines.

Risk management means identifying, analyzing, prioritizing, assigning, responding to and monitoring risk.

Identify risks by visualizing the completed project; analyzing similar past ...


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