Risk management process – a practical technique for identifying risks

Risk management is one of the most fascinating processes you encounter when you manage projects, organizations, or strategies. Interestingly, risk identification and evaluation is a creative and systematic process in the right and left of the brain.

Involve your brain brain creativity, your intuitive energy, where you look forward to exploring and revealing your potential risks. This is the time to do something different. You do not force yourself to think in a certain way or fit your ideas into a predefined frame. Studies show that our ability to think differently decreases as we become older, so we consider that we can practice nerve cells that have not been trained so far.

But to be effective, you need to bring the left side of the brain to play. This occurs when the risks are categorized logically, rationally and patterned to assess their impact and how to respond to them.

Let's now look at a practical risk management technique that helps brain neurons and works well to identify risks. Here are the four steps:

Step 1: Collect the Team . Most project teams mingle with a combination of several leading and experienced team members who identify their historical databases to project risks; and new and less experienced members who are obviously looking at the project's risk. Team members are probably mixtures of personality types in the entire introversion-extroversion spectrum. The challenge is to combine complementarity and diversity to create the richness of the project cubes you want to target.

Traditionally, the team is united in the face, where everyone literally contributes to their ideas. Extroverts love this approach, shine in a social setting, and enjoy a vigorous discussion. But he risked the risk of being absent from the silent, introverted contributions of his team, who appreciated the time and opportunity to reflect the issues and often feel more comfortable with writing their thoughts in writing. An environment should be created that encourages equal contributions from all members regardless of their rank or personality type. One option is to team up online or practically. Effective and cost-effective, especially if you have a geographically dispersed team and is likely to fully contribute to all team members.

Step 2: Each team member contributes to the risk. When you team up either face to face or online, ask each of your team members to contribute to a certain number of risks. Depending on the size of the project, 5-10 of the individual team members are realistic. Acquiring such risks in writing has the advantage that each member member speaks separately and individually about the risks. This independent thinking that does not lead, or other, possibly more dominant, members of the team does not affect it, it results in a divergent range of risks and identifies more potential risks.

When a group meeting faces you, each team member notes your risks in post comments that are placed in a central storage.

If you meet virtually or online, members of the team can send their identified risks to a central coordinator. This can be asynchronous. You can ask team members to deliver the risk 10 to a specific date, but you do not have to do it at the same time. This gives the members of the team the flexibility to fit into this task in their personal work.

Step 3: Collecting and Grouping Risks . Now is the time to move to the left brain area for some convergent thinking. After you collect the risks, combines the dual risks and then sorts them into categories. The risks are categorized and structured in a structured way. Typically it is in 10 and 15 high-level categories. For example, the three project constraints: cost, time, and scope are typical risk categories. The number and type of categories depends on the project and the organization's management systems.

Step 4: Use a mind map to visualize the risks. Mind mapping is an effective technique that displays a large number of risks in an orderly and compact form. The mind map is a central concept diagram. In our case, the central concept Project Risk. Mind maps use a nonlinear graphical format to create ideas around the core concept. Visually Think about a Web Or An Outline of a Wheel

High-level risk categories such as Cost, Time, and Scope from the Core Core Like the Wheel Dial. Then, the nodes from each category will broadcast the individual risks. For example, Time may include risks such as overtime, schedule missed tasks, and schedule compression, as risks can have positive and negative impacts.

With the mind map, risks can be categorized and records can be displayed in real-time, personal or virtual sessions and on screen so that all participants can see the identified risks being continually recorded. In addition to involving the team, an organized summary of risks.

Now that you recognize the risks, it's time to move on to assess the risks to be able to prioritize them and develop risk management plans. A reliable risk management process uses different and convergent thinking to help filter the maximum value to identify risks. If this practice is not completed effectively, you may be surprised at how many project risks slip through the net.

Source by sbobet

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