I'd be interested to discuss Project Risk Management with the M-T community. I find that it is a difficult thing to manage well.
[For anyone wondering what is meant by Risk Management - the idea is to think about what the project is assuming will happen, and to make decisions about how likely that is to prove wrong, and how bad that would be. Then there's usually a review process to check whether the bad thing is looking more likely than before, and to record who is doing something about this, if there is action to take]
There are plenty of tools and procedures to collect risks from the project team and record and manage them, but I've been dissatisfied with a lot of these. It seems to be easy to end up with a lot of documentation to maintain and discuss regularly at meetings, without anything very useful coming from it. Manager-Tools seems a likely place to find someone with a lightweight, effective tool for this!
What seems to go wrong (surprise, surprise) is the people side:
- Things go on the risk list that are risks to any project and would be dealt with by standard management in the first instance (all those items that boils down to "what if X does not get their tasks done on time?") Tracking these through a risk management process may be a waste of time, if other aspects of management are being done well
- Things go on the risk list that no-one has any power to do anything about
- Group-think rears its head & prevents the team from seeing some of the more interesting risks
- It is difficult to get the team to engage - they see risk management as a Meaningless Management Ritual, and it can use up a lot of capital and energy to get them to participate.Probably that's to do with people's earlier experiences of long rambling risk meetings and risk logs, which didn't lead to anything useful or actionable....