Risk management practices let the team spot concerns far earlier.Įarly awareness of potential problems means that the right people can intervene to mitigate a problem before it becomes too severe to do anything about. Leaders typically don’t like surprises! A robust approach to managing risk allows teams to better communicate about project challenges in a more timely way. Dovetailing perfectly with any existing Project Management Office processes you already have in place, good risk management can give you the context for understanding the performance of a project and contribute to any health checks, peer reviews or audits. Risk management practices let you see where projects need attention, and which projects these are. Here are 8 of the lesser known, but equally important, benefits of a robust enterprise approach to risk management. It has far-reaching benefits that can fundamentally change how a management team makes decisions. Armed with a risk log and a switched on team, the project manager can plan for any eventuality.īut risk management is far more than that. Risk management is a core leadership approach that ensures any potential threats to success are identified and dealt with before they derail your project.įor a project manager, risk management is a key process for project control.
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