Risk Management – Example
Risk management is needed when a ‘risk’ becomes an ‘issue’, to keep the project on track. Issues can be managed even if they haven’t been identified and documented, or planned for, however, having plans in place results in less disruption to the project when the issue occurs. Implementing changes to your project that reduces negative risks will help you, and your science, succeed.
Watch the short video to introduce you to the topic.
For positive risks, if planning has been successful the project team will be in a better position to capitalise on opportunities when they arise.
For negative risks, it is important to document what happened and how the issues were navigated to keep the project on track. An Issues Register provides essential evidence to defend your response to an issue and is useful for helping to resolve disputes. It also keeps track of how and why the project plan may have needed to change during the project, which can be important for milestone or interim reporting.
An Issues Register captures:
- the date the issue happened or was identified
- who raised the issue and/or who is responsible for resolving the issue
- the description of the issue
- whether it is high, medium, or low priority to resolve
- updates on how the issue was resolved, or if not resolved, why not.
There may end up being a few updates to the Issues Register if it takes more than one action to resolve an issue, but the date the issue was considered to be resolved must be documented (i.e. when the problem was solved). It is a document that should be regularly consulted and updated, perhaps as a part of regular project meetings.
If the time and effort has been spent to identify, score and mitigate risks, plans developed and actions integrated into the conduct of the project to mitigate risks, less issues will occur and you’ll be in a better position to amplify the positive aspects of a project.
- Explain the difference between a ‘risk’ and an ‘issue’.
- Complete the risk identification table for 3 issues that have occurred in a past or current project.
Issues Register Template – Risk Management – Activity
- Reflect on issues that have occurred during projects you have been involved in. How were these managed and were they managed well? How would documentation like an Issues Register have helped manage or resolve the issue?
- How might an Issues Register be useful to protect your personal reputation?
- Have you been in a situation where it was your word against someone else’s in a project dispute? How would an Issues Register have helped this situation?
Risk doesnt have to mean risky
How many times have you gone into a project, at home or work, and then ended up in a situation where you go ‘yeah well I didn’t realise that, or think of that, before we started!’ This webinar will help you better understand ‘risk’ through real-life examples. You will be able to better identify and manage risks and build/identify new opportunities.