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Project Management Orientation

Risks are Being Mitigated Key

This key is often misunderstood.  It is not about whether a project has risks;  every project has risks.  Rather, this key is about determining whether a risk management plan exists, whether the plan has been communicated to team members, and whether it is being actively used.  Here are some criteria for assessing the Risks are Being Mitigated key.

So the Risk key is about whether the risk management is working properly.  While other keys could be red, this key could still be green because risk management is working as it should be working.  On the other hand all other keys could be green and this key could be red if this is the only key needing corrective action.

Here are the signs to look for:

Healthy Signs

  • The risk plan is documented.
  • Test-it-first tactics are used.

Unhealthy Signs

  • The sponsor or team members ask, "What risks?"
  • All-or-nothing tactics are used.

On some projects and with some companies, the idea is to go the quickest way, which is almost always the riskiest way.  Do not take a risk lightly, and be prepared to mitigate your risks.

It is recommended to proactively be looking for risks in the areas of the other 6 keys using their Risk Management Process to support this.

Risks are Being Mitigated icon
1: Getting Started
2: Define the Project Team
3: Team Management
4: Identify and Validate Requirements
5: Create Decomposition Structures
6: Risk Management
7: Project Estimates
8: Project Schedules
9: Change Management
10: Project Control and Execution
Defining the Project
11: Project Management Review
12: Project Closeout
13: Project Management Tool Suite
14: Self-Assessment and Final Exam
Fast Points
Concepts
Seven Keys
Case Study
WWPMM
Mentor
Check Point
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