THERE IS RISK IN NOT TAKING RISK!

RISK MANAGEMENT

This is a core aspect of Project management. Though it has often been neglected, considering it means much for the anticipated  success of a project to be executed.

Risk could be positive whereby it's termed 'opportunity' and could become 'threat' from its negative conception. Either way it is considered, it's an adventure requiring full attention.

To be at the realm of affairs with risk management for a project, the following must be considered:

1- Risk Planning (having a conception of a project is enough a reason to start planning for or against its risk)!

2- Risk Investigation (this requires deep-thinking about any prominent, hidden and unforeseen threat/opportunity with executing a project).

3- Risk Analysis/Ranking (One needs to prioritise...which 'Risk' to be considered first...why this and not that...If this is delayed it may turn the whole project into a disaster...if that is forgone and this is considered we have a safe condition/situation to be able to have a platform to arrest other unsafe conditions).

4- Risk Response Implementation (This is in terms of strategies in procurement to put Risk at bay away from a project...timeliness, specificity, accuracy (i.e in terms of quantity or quality) are key here) &

5- Risk Control (making sure that no disruption comes in as project management itself is all about being proactive. Thus in the face of risk management while applying control one shouldn't be reactivate. The potential risk should be managed in such a way that its evident threat is turned an opportunity!