From the course: Project Management Tips
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Monitor project risks
From the course: Project Management Tips
Monitor project risks
- When I talk about project risks what I really mean are uncertainties. No matter how much time and effort we put into planning there's still going to be some risk, some uncertainty that we just need to deal with. A constructive way to manage the risks in a project is to track them with a document called a risk register. Your risk register is a place to record what the risks are, how likely they are to occur, and how they'd impact your project. Then you can set priorities by creating a risk index that factors in the severity and probability of each risk. The index can help you decide the best way to respond to a risk. Should you avoid it, accept it, transfer it to someone else, or find a way to mitigate the risk? Now risks aren't always bad. If you're properly prepared you can often find ways to turn a surprise into an opportunity. For a quick tutorial on how to build a risk register check out the video in my course…
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