How to reduce project risk so that you deliver on time and under budget
Posted by APM on 17th Oct 2011
Bryan Barrow delivered an interesting and enlightened workshop entitled How to reduce project risk so you deliver on time and under budget at the University of Greenwich campus in Chatham on Tuesday 4th October for the APM South Eastern Branch.
Bryans twenty years experience in managing projects enabled him to give real life examples of poor project performance being directly related to poor risk management. He started his presentation by discussing how risk management is clearly an essential part of project management and one of the least understood or utilised disciplines; he then went on to explain why many projects finish late or over budget.
Some of the key aspects of risk management are to identify, quantify, manage and evaluate project risks with a common theme that, as with most aspects of good project management good communication is paramount.
Also, it is worth remembering that it is harder to accept what is true but unpleasant than what is false but comforting. Clearly risk management can be complex but mind provoking, interesting, essential and rewarding at the same time. The workshop concluded with a questions and answers session.
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We make risk assessments every day, and generally we do them well. Most of us look both ways before looking the road, and in the same way most of us will survey a site before we allow our projects to start digging.