Resource Index > Project Management Activities > Risk Management

Risk Management

The concept phase of a project centers on measuring and judging the risk-reward tradeoff: what rewards will the organization reap from a successful project, and what are the risks of an unsuccessful project. Common metrics like return on investment (ROI), marketing forecasts, and revenue projections provide reward information, but project risks are often discussed ad hoc, saddled by technical jargon and arm waving -- or just not discussed at all. These resources will help you have a sane, constructive conversation about project risks focused on avoiding or mitigating foreseeable problems.

How can we help you with your Project Risk Management activities?

Examples of Risk Management Plans and Processes
The examples here illustrate the elements of a good risk management plan, demonstrate techniques for categorizing and communicating risks, and show you how to handle risk mitigation activities.

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  • Special Event Safety Plan
    This document provides an outline and sample content for a special event safety and emergency plan. Typical events that might need a plan like this include parades, summer concerts, city festivals, and holiday observances. Employers could use a plan like this to improve safety at company picnics, job fairs, or similar events. It will not cover all contingencies, but it will get the conversation started.
  • IT Process and Staff Impact Assessment
    This document provides a concise way to assess and summarize how the operations and support processes used by various IT staff will be impacted by what a team is deploying via their project.
  • Project Risk/Opportunity Assessment Models
    This Excel workbook provides a quantitative approach to assessing multiple, very specific risk factors such as technical complexity and PR exposure and opportunity factors such as market leadership and employee retention, to help you get the visibility you need and make sound project decisions.
  • Risk Management Plan Outline
    A high-level plan/outline for ensuring consistent implementation of risk management across an organization, or across a division or group within an organization.
  • Risk Management Process
    Guidance on the steps to be followed when implementing a risk management process -- a roadmap to get from risk-unaware to risk-aware and risk-ready.
  • Medical Product Risk Management Process
    Based on ISO 14971:2007 requirements, this outline models medical product risk management processes, and an overview of what scrupulous risk management looks like in safety-critical environments. Includes risk-scoring systems and rationales, checklists, and more.
  • System Hazard Analysis Method
    This template provides a document outline based on the ISO 14971:2007 standard (for medical products) that your team can fill out and use as their official System Hazard Analysis document.

    When should we do risk assessment?

    How do I keep risk from disrupting my project?

    See more Burning Questions on Risk Management.
Step-by-Step Guidelines for Risk Management
The resources here will help you compile a reasonable list of project risks, decide on appropriate strategies for dealing with them, and communicate both risks and issues to management and customers.

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For Members
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  • Executive Summary of Project Status/Risks
    This easily scanned form condenses the project information executives really care about on a single page. It's heavily risk-focused, but also includes all of the usual items like milestone status and accomplishments (as well as just about everything else). The result is an at-a-glance summary that quickly shows execs how the project is doing and what help is needed.
  • Preliminary Design Review Checklist
    Checklist for Preliminary Design Reviews (PDR), to allow the Project Leader and team to suggest alternatives in product performance, time-to-market, product and project cost, and risks.
For Subscribers
These resources are for Premium subscribers. Subscribe to get access, or find out more about our free trial for new subscribers.
  • Risk Checklist
    Drafting a risk list can be a daunting proposition. This checklist prompts your team to consider common risks across a wide variety of categories, to reduce the odds of missing one of those dreaded "unknown-unknowns."
  • Product and Project Risk Assessment and Mitigation Tables
    Risk Assessment tables used during the early project selection process for documenting product risks, as well as several more detailed risk assessment categories for projects moving into full-blown planning. There are formats and guidelines for assessing the true risks in areas such as market competition, technical innovations, and the nuts-and-bolts, boring-but-potentially-painful things like resource shortages and vendor/partner delivery delays.
  • Calculating Expected Monetary Value (EMV) of Risks
    This template helps teams assess the financial impact of a given risk and determine how much time and money to spend avoiding it.
  • Late Cost Per Week Worksheet
    This simple worksheet will help your team calculate and communicate the financial impact to the organization if your project slips by a week… or two weeks… or more.
  • User Impact Assessment
    Even simple IT projects can open a Pandora's Box of user concerns, questions, and frustrations caused by overlooked impacts. This template guides the team through an assessment of the user impacts of technology changes, to enable better planning and communication and a smoother deployment experience for everyone.

    See more Burning Questions on Risk Management.
Other Options
  • Books on Risk Management
  • Identifying Project Risks
    A mini-course with Carl Pritchard - $24.95 - 1 PDU
    This course by Carl Pritchard of Pritchard Management Associates explains how you can start a productive risk conversation with your team; one that includes real risk statements, strips away the blinders, and fills your risk register to overflowing, so you know exactly what you're up against.
  • Assessing Project Risks
    A mini-course with Carl Pritchard - $24.95 - 1 PDU
    This course by Carl Pritchard of Pritchard Management Associates explains how to assess each risk's likelihood and potential impact, how to rank risks, and how to see the most important places to spend money and time to minimize risks and maximize your chances of project success.
  • Deciding How to Respond to Risks
    A mini-course with Carl Pritchard - $24.95 - 1 PDU
    This course by Carl Pritchard of Pritchard Management Associates explains how you can make smart risk decisions for your project, and get the execs on your side.
Typical Risk Management Issues and Answers to Common Questions
These resources will help you with thorny project issues like discussing qualitative risks in a quantifiable way, convincing reluctant team members to have scary-but-necessary risk discussions, and more.

For Guests
These resources are available to everyone, no login required.
For Subscribers
These resources are for Premium subscribers. Subscribe to get access, or find out more about our free trial for new subscribers.
  • SWOT Analysis
    SWOT analysis is often used to evaluate strategic choices (project objectives, priorities, etc.) and can also be used to review potential impacts on things like a process, solution, or business entity.
  • Impact Analysis
    When considering a project change or a particular solution, or choosing between multiple possible solutions, it helps to have a thorough understanding of how each option will impact business areas, systems, and external organizations. An Impact Analysis will help you correlate all those variables and determine the best course of action.
  • Risk Strategy Selection Matrix
    This matrix helps the project manager, management, and the team get a clear look at the most pervasive risks, and identify which strategies have the best chance of resolving multiple risks at once.

    How can I tell if a risk has been mitigated?

    See more Burning Questions on Risk Management.
Other Options
  • Books on Risk Management
  • Planning the Project When Things Are Uncertain
    A mini-course by Mike Aucoin - $24.95 - 1 PDU
    Spiral development, time-boxing, and other iterative methods can help your team close in on the project's end point even when it's lost in the fog of risk and uncertainty. This session explores these iterative methods, so you and your team can face uncertainty with confidence.
  • The First 5 Traits of Risk Management Excellence
    A webinar recorded by Carl Pritchard - $39.95, 1.5 PDUs
    In this compelling webinar, leading author, presenter, and risk management expert Carl Pritchard looks at what it takes to move your organization's risk management practice from good to excellent. He walks you through 5 critical traits of risk management excellence, and explains how to cultivate them in your organization.
  • The Second 5 Traits of Risk Management Excellence
    A webinar recorded by Carl Pritchard - $39.95, 1.5 PDUs
    In this follow-up webinar, leading author, presenter, and risk management expert Carl Pritchard walks you through 5 more risk management traits your organization should cultivate, and explains how to do it.



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