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Risk Management: 5 Steps to Kickstart Today! Keep It Short, Sweet, and Actionable

Dive into the realm of risk management by learning how to identify, assess, and respond to potential threats. This guide outlines 5 practical steps to initiate effective risk management practices within your team or organization. Discover how to communicate risks clearly, categorize them by probability and impact, share plans, recognize warning signs, and take responsive action when needed. Equip yourself with the tools to navigate risks confidently and proactively in pursuit of project success.

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Risk Management: 5 Steps to Kickstart Today! Keep It Short, Sweet, and Actionable

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  1. Risk Management 5 Steps to Get it Going Today!

  2. It’s in Trouble Already… • Risk • The bad things that may happen • That no one likes to talk about • So they keep it short, sweet and…well, short

  3. Step One-Learn to say Risk! • Not – “We might be late” • Instead – “Justice might be late in getting us the list of interviewees, which may make us as much as three weeks late” Earthquake!! Oh…and learn to say “opportunity”, too!

  4. Step Two-Learn to Say Risk Quickly…and with the team!

  5. Step Three - Sort Those Risks! asdlkf r09t7 sdg09h dksj misc.

  6. Let’s call it “High Probability” • Has it happened more than twice? • If we did this three times, could we expect it twice out of the three? • Is the environment making it more likely? LOTTO!!

  7. Let’s Call it High Impact! • Will management see it? • Will it cause a delay in a mandatory date? • Will it cost enough to force us back to the customer/Congress?

  8. Step Four-Share the Plan! Prob/Imp High = Med = Low = I thought you meant it was likely, not important!

  9. How Do We Share? • Warning signs/symptoms • Triggers • If you…then I…

  10. Warning Signs??

  11. Step 5 – Respond! • Avoid • Accept • Mitigate • Transfer

  12. Repeat and repeat and… carl@carlpritchard.com 301-606-6519

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