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Risk Management Strategies in Projects

The document outlines strategies for managing risk in project management, emphasizing the importance of breaking down complex systems into simpler components. It suggests conducting interviews for diverse perspectives, reframing problems as challenges, and building redundancy to minimize errors. Additionally, it highlights the need for detailed flowcharts and a right-to-left approach to streamline processes and achieve goals more efficiently.

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4 views1 page

Risk Management Strategies in Projects

The document outlines strategies for managing risk in project management, emphasizing the importance of breaking down complex systems into simpler components. It suggests conducting interviews for diverse perspectives, reframing problems as challenges, and building redundancy to minimize errors. Additionally, it highlights the need for detailed flowcharts and a right-to-left approach to streamline processes and achieve goals more efficiently.

Uploaded by

skjonlinejob
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Project Management Foundations: Risk

with Bob McGannon

Risk Complexity Examples


Separate what each area does into Break down a business system into Separate a service into systems
component functions, and then technical components, such as involved, such as finance processing
individually deal with each smaller processing, database calls, and user being performed by invoicing,
Systems component function. For example, interface functions, to determine if accounts receivable, cloud-based
Based break down a department into things can be made simpler within storage, credit card processing,
production and finance functions. each step or function. and collections systems. Attempt
to streamline steps or interfaces
between systems.
Solution Approach

Conduct interviews with various Change the venue to discuss a problem Rephrase a problem as a challenge.
people outside the industry where to generate new ideas. For example, Instead of “We need to fix the
the problem resides to get different if you are working on logistics for duration to complete a task,” restate
perspectives. cleaning restaurant linens, go to a it as “How can we get this done in
Reframing commercial laundromat—to be in the five days?”
environment where improvement is
desired.

Build redundancy into the products Build detailed flowcharts and note For larger initiatives, build a right-to-
you produce to reduce errors or safety handoffs between departments, left set of required steps to achieve
concerns. Aircraft manufacturers do teams, or individuals, and look to an objective. Start with the final goal
this regularly. streamline the decision-making or to the right. Challenge the assumption
Process approach to achieving your goals. that each step is required to achieve a
goal. Often steps can be combined or
omitted, reducing complexity.

Project Management Foundations: Risk with Bob McGannon 1 of 1

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