BrightWork Launches New Training Videos – Risk Management – A 6 Step Process

January 20, 2016 by
Billy Guinan

BrightWork are delighted to bring you yet another fantastic and informational piece of content that you can use to help guide your projects to success! Last week, we launched ‘Risk Management – A 6 Step Process’ which is a series of training videos that you can avail of (for free) today!

The videos explain exactly what risk management is and they also give you a simple and repeatable process for managing risks that anyone can use!

Here’s a brief overview of the 6 step risk management process to give you a taster:

  1. Identify
    The first step is to identify possible risks, which should be done as early as possible and repeated continuously throughout the project.
  2. Analyze and Prioritize
    Next up, you’re going to analyze and prioritize these risks. A proper analysis will allow you to make decisions about your project risks and be more aware of those that have a higher impact to the project.
  3. Plan and Schedule
    Step 3 involves going through a planning and scheduling phase. Here, you’ll begin to formulate strategies, plans and actions based off your risk analysis.
  4. Track and Report
    Once the project is underway, you have the tracking and reporting step. The tracking element of this step monitors status and progress of the risks you identified in step 1, and reporting communicates this status to others who are involved in the project.
  5. Control
    Then, control. If any risks become an issue, you should put your plans into action and initiate any project change requests that may be needed.
  6. Learn
    Finally, and probably the most important, the learning step of the risk management process! This involves the formalizing of the lessons learned. Relevant project artifacts and tools will capture this knowledge in a reusable form.

If you’d like to learn more about risk management and the 6 step process outlined above, just click on this link or on the picture below and watch the videos to ensure you keep your project on the road to success!