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Project Management - Risk: Detailing responses (P19)

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Published on Feb 15, 2018

This video follows another that gives a snapshot of Risk in projects - (a sort of overview by taking the viewer further into detailed management and hecne responses to identified risks.

Also, note there the initial risk is called the Inherant Risk. The response mught still leave some risk - Residual Risk. And/or even generate another risk as a result of the response in place (the plan) - Secondary Risk

Another point. A risk is a risk is a RISK, and remains so... even if and when it materialises. It does NOT become an issue.

- Project risk is project risk - when the project closes the risk is no longer tracked as ther is no longer a project.
- An issue can surface during a project and still continue into Operations (if accepted by the relevant parties of course!)
- A risk can be managed as once identified we can "plan a response" so if it materialises we have a route.
- An issue needs immediate response where there is NO PLAN.

We manage a Risk, respond to an Issue


This video, along with the "Risk: A Snapshot", forms part of a complete course that offers a "Certificate of Completion" at the end.

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