The lack of a risk management strategy can ultimately cause a delay in your project increased costs and even the project stalling and failing completely. Risk management is a vital part of the planning process and as project manager it is your responsibility to ensure that this vital step is not overlooked in favour of speed. Here s a look at the difference between risk management and issue management plus how today s most successful enterprise project managers are managing their risks and issues.
As with risk management issue management at the enterprise level requires a formal well thought out approach. The risk management process is all about proactive project management. Assess risks to predict issues.
So before you create an issue management process make sure to create a risk management plan that can nip potential problems in the bud. If the issue goes unresolved you risk creating unnecessary conflicts delays or even failure to produce your deliverable. Problems with staff or suppliers technical failures material shortages these might all have a negative impact on your project.
Issue management is the process of identifying and resolving issues. Detailed information about the risk and issue management documents information and proximity and progress reporting. You will learn about managing risks in a program risk management strategy and risk appetite and tolerance thresholds.
Risk and issue management tutorial talks about the sources of risk identification risk management perspectives and m o r risk management principles. Since a risk once it has occurred becomes an issue the definition and management of issues is also addressed to bring it in line with the new definition of risk. In addition the paper discusses the confusion around the term risk and addresses how risk differs from an issue it then details the issue management process.