A risk management tool is essential to efficiency and individual effectiveness. A tool should also support integration within an organisation. This video outlines the requirements and looks at some of the pitfalls. There is also an example for comparison with your system.
What does “the effect of uncertainty on objectives” (ISO 31000 definition) mean in a project environment? Standard risk management processes are focussed on identifying and managing risks that MAY happen. That applies to both a project and non-project environment. Where projects differ is that management practice also introduces (correctly!) two other areas of uncertainty – cost...
Once an assessment of the efficiency of your risk process has been made (see the insight “Is your risk management process efficient or wasteful?”) the second element is to consider whether your risk toolset is efficient or wasteful. There are two aspects to consider – Inputs and Outputs. Inputs are straightforward. Risk management should be undertaken...
Back in 1996 I was heavily involved in the New Southern Railway (now called the Airport link) working with (what was then) Rail Services. We undertook a series of workshops to assist with our tender submission. The data was held on spread sheets as in those days there were no other tools available. Over the...
