Project Risk Management

In this webcast, Cornelius Fichtner and Dr. David Hillson look at project risk management for business leaders and project leaders through the metaphor of a risk hurricane.

Risk management has become a standard part of the strategic tool kit, providing senior leaders with a forward-looking radar to scan the future and give early warnings of approaching threats and opportunities. However, even best-in-class organizations can falter in the face of extreme risk exposure. Special circumstances demand special responses, and extreme risk exposure needs very careful handling. Routine risk management approaches will fall short, but businesses that demonstrate a high degree of flexibility and resilience will have a competitive advantage and the ability to thrive where others fail.

The causes and consequences of meteorological hurricanes have parallels in the way uncontrolled risk exposure can develop in organizations. Both are caused largely by predictable factors, but both are characterized by sustained uncertainty and severe impact once they develop. If we can learn to predict a risk hurricane, prepare for it effectively, and survive its effects, then our organizations will be well placed to address the challenge of extreme risk exposure if and when we are unfortunate enough to face it.

Similar Content:

• 5 REASONS WHY YOU SHOULD BE USING RISK MANAGEMENT ON EVERY PROJECT?

• 5 PRINCIPLES FOR PERFORMING GOOD RISK MANAGEMENT

• HOW MANAGING STRATEGIC RISKS CAN HELP CREATE A WINNING BUSINESS

• WHY IS IT SO IMPORTANT TO PROPERLY ASSIGN RISK MANAGEMENT

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Cornelius Fichtner

Cornelius Fichtner, PMP, CSM, is the President at OSP International LLC, a PMI Registered Education Provider (R.E.P.). He is the founder and owner of The Project Management PrepCast, a regular show in the format of a traditional radio show, which teaches project managers the foundations for passing the PMP Exam. Cornelius and his team have coached over 27,000 project managers on their way to becoming PMP certified. Cornelius writes about project management training and certification. See Cornelius's Articles/Podcasts

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