Experienced Project and Program Management (PM) Professionals acknowledge Risk Management as a significant and critical process of Project and Program Management (PM) best practices.
Therefore rigorous procedures are required to effectively identify, assess and respond to risk events… the uncertainties that pose potential threats, as well as potential opportunities to projects and programs.
Projects and programs reside in that uncertain environment and are therefore by their very nature a “risky” undertaking.
Most projects and programs are initiated to deliver a new product or service, implement new methods, procedures or technologies, enable new skills and capabilities, enhance polices or processes, explore strategic alternatives … and the list goes on.
Risk is the cumulative effect of the chances of uncertain occurrences positively or adversely affecting the project and program objectives.
Managing “uncertainty” is the fundamental premise and primary objective of Risk Management best practices.
Effectively applying the following six processes of Risk Management (RM) promotes successful delivery of quality products and services that meet or exceed stakeholder functional specifications and performance expectations: (more…)














