There are risks in everything we do. For example, there are risks in breathing, walking, and climbing. However, it doesn’t mean that we stop all actions to be safe.
Similarly, as a Project Sponsor, you may hear about various risks in the project. Again, when someone flags a risk, it is a good thing. Make sure that there is a process in place to manage all risks. All risks are not equal, though. So, categorise and focus on the risks that matter.
Remember that risk management is not free activity. It takes time and effort to identify, monitor and manage risks. Unfortunately, consultants have a bad habit of flagging risks if you don’t follow their way.
- Oh, the system configuration document must be approved before we configure the system. Otherwise, there is a risk that customer may change their mind.
- It is best practice to document all minutes of our meetings.
The point is that risks are in every action. Therefore, we must pragmatically look at the risks and develop risk management strategies. Never ignore or be scared of risks within the projects. They want your attention. Give them the attention they deserve based on their category.
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