"It does not do to leave a live dragon out of your calculations, if you live near him." - J.R.R. Tolkein
"It does not do to leave a live dragon out of your calculations, if you live near him."
- J.R.R. Tolkein
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Effective Risk Management is not an Option in Managing Projects - You Need It!
Achieving the full value of risk management on technology projects is thwarted by several factors; the general lack of a universally standard framework for risk management, a lack of familiarity with the basics of risk management, and an inadequate implementation of risk management practices (even by experienced project managers) all contribute to our collective failure in managing project risks. Recognizing the need and value of Risk Management on your project is a good start. Being aware of the behaviors that create obstacles in adopting Risk Management can help you in taking the right steps in implementing a sound Risk Management emphasis on your project.
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A Brief Overview of a Complex Topic
Becoming familiar with the organization and structure of Risk Management activities is a necessary precursor to building a solid competency in managing the risks of your project. Project Managers who overlook the need for risk management on their projects end up exposing their projects to unnecessary threats and probably leave unnoticed opportunities untapped. This article summarizes a PMBoK-based framework for Risk Management.
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Where to look for Books, Articles, Standards
To save you a bit of time in your Risk Management research, here are pointers to books, standards, government guidelines and even a toolkit to use on your project.