Risk management is all about understanding what can go wrong to your business or project, tracking the events that lead to a risk becoming an issue, and making sure that risk doesn’t materialize, or, at the very least, having a sound plan in place to handle it should the risk occur. The challenge to identifying risks and their mitigating strategies/tactics is to understand what the risks are, the probability of occurrence of a specific risk as well as its impact to your organization.
The Project Management Book of Knowledge (PMBOK) identifies six fundamental processes that your organization should be competent in to manage your risks. Those processes are: Risk Management Planning, Risk Identification, Qualitative Risk Analysis, Quantitative Risk Analysis, Risk Response Planning, and Risk Monitoring and Control. Have you defined and implemented these processes for your organization?
LeanVista has years of experience in the implementation of sound risk management processes. Let LeanVista asses your organization’s risk management profile and determine the gap between where you are, and where you need to be.
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