How to Put Together an Effective and Flexible Risk Response Strategy

How to Put Together an Effective and Flexible Risk Response Strategy

Creating a comprehensive risk response strategy during the planning phase of a project is essential. The first step is identifying risks through the joint brainstorming of the project team, stakeholders, and the PM. The next step involves analyzing and ranking risks based on their likelihood and impact on the project. The risk response process involves five strategies laid out in the PMBOK, including Escalate, Mitigate, Transfer, Avoid, and Accept. It is important to keep a risk register document that can be altered as the project progresses.

View

More Innovation Resources:

Task Management Theory: What You Need to Know

Learn about task management theory and how it impacts the success of a project by providing efficient and productive task management.

View

Using Agile Product Portfolio Management

Agile portfolio management is crucial for organizations to respond quickly to changes in the business environment. This article discusses how to apply an Agile mindset to portfolio management, construct an Agile portfolio, and manage it effectively.

View

Is Innovation Helped or Hurt by Self-Censorship?

Encouraging contributions of ideas from all quarters can be counterproductive. There should be an appropriate number of ideas. The article discusses the significance of emergence, filters and culture in Enterprise 2.0.

View