If you want a free knowledge nugget to find out about Risk Management, then this interview is for you.
In this interview Rod Sowden (the Aspire Europe MD) not only explains the MSP® perspective on risk, but also explores the key area of risk aggregation which is key in a programme environment. Without effective risk aggregation management the programme will always be exposed to risks that appear minor at a project level representing a major threat to the programme.
To access the pod-cast, click here
MSP® is a [registered] trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.
Risk management is one of those strange things that we know we should do it, but when we do, it doesn’t seem that interesting. We have conducted numerous gateway reviews, health checks and maturity assessments and invariably organizations seem to be just going through the motions, we have termed the phrase “risk watching” rather than managing.
One Programme Director, when considering the MSP® Risk Management Strategy, concluding that whatever he did, risks seemed to happen so their strategy would be not to manage risks but manage them all as issues, pragmatic at least.
So here are our Magnificent Seven for Risk Management:
- The approach aligns with objectives of the initiative – if it is high risk then much more attention should be given to managing them, this can be achieved by putting it at the top of the agenda
- Focus on the threats and understand what could trigger them, far too many programmes and projects focus on the consequences, for example, stakeholder resistance can be the result of poor communications, so it is the impact or effect of the threat of failing to communicate effectively.
- Engage stakeholders in the process of identifying and managing risks, normally business operations will understand the risks much better than project staff so should be fully involved
- Focus on the aggregating effect of risk, a wise man once said the worst thing that happened to risk was the risk register, as it hides the relationship between individual risks.
- Clear and simple guidance that is provided in the context of the organisations vocabulary and culture, don’t overcomplicate guidance with jargon.
- Informs decision making through the availability of current information and that lessons are being learned and shared.
- Innovate in the way risk management information is presented to a programme or project board, avoid laying a large risk register in front of them, keep it simple and they will stay engaged, they don’t want to the initiative to fail, if they are disengaged when discussing risk then rethink the approach – basically worrying about what might go wrong is never going to be fun
MSP® is a [registered] trade marks of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.
Here at Aspire Europe, we are proud to be providing the keynote speaker (Alan Summerfield) at the International Risk Management Conference.
His keynote speech will be on – “Where does it all go wrong? And what is the best approach for success?”
The 4th annual International Risk Management Conference will take place on May 3, 2016 in Copenhagen, Denmark.
Who should attend: The conference is relevant for anyone working in project management and risk management in the public and private sector
Your outcome: The conference has established a reputation of high quality content, enlightening discussions and solid networking opportunities, so book the date in your calendar.
For more information, please click here
Aspire Europe offer a range of training solutions to support organisations in delivering their change effectively, many of our courses offer formal qualifications that are unique to Aspire Europe Ltd to help motivate and recognise the achievements of your teams.
Training is only one element of raising your capability and improving performance, the proof of the pudding is whether the new skills and knowledge is put into action back in the business. A maturity assessment to identify your strengths and weaknesses and using training as a vehicle to underpin improvements is an essential element of the improvement mix. We can offer a skills matrix for each of the key roles in change to help you target your training, and can conduct a maturity assessment using P3M3® to provide you with a baseline.
View our complete course summary here
P3M3® is a registered trade mark of AXELOS Limited.
Filed under APM, Aspire Academy, Benefits Management, Business Project Management, Change Management, Governance, Knowledge Nugget, Learning, MoP®, MSP®, M_o_R®, P3O®, Planning, Portfolio Management, PRINCE2®, Programme & Portfolio Office, Programme Management, Project Management, Risk Management, Sponsor Advice, Stakeholder Management, Training
If you want a free knowledge nugget to find out about Risk Management, then this is for you.
It is drawn from our MSP® pre-course package and Rod Sowden, the lead author for MSP® 2011, introduces the concepts and explains how risk management works in programmes and projects.
To access the pod-cast, click here
MSP® is a registered trade mark of AXELOS Limited.
No organisation can successfully deliver programmes and projects without an effective framework. Our work on developing the maturity model P3M3® and undertaking assessments of over 100 organisations enabled us to review a wide range of processes, guidance and tools that are used across a range of sectors.
- Incomplete frameworks with inadequate lifecycles
- Frameworks that replicate manuals and basic theory but add no value
- Roles and responsibilities that are generic, confusing or conflicting
- Themes, such as risk, that are not connected to the lifecycle or sit in isolation
- Generic role definitions with no application of the responsibilities
- Templates that bear no resemblance to the lifecycle or processes
- Little connection between programme and project management systems
- Portfolio Management frameworks that fail to address balancing priorities
To overcome this we developed our own Align Framework® and offer it as a fully supported package. If you would like to find out more about the Align Framework®, click here
P3M3® is a registered trademark of AXELOS Limited.
Align Framework® is a registered trademark of Aspire Europe Limited.
Filed under Align Framework, Business Project Management, Change Management, Governance, Maturity Assessments, P3M3®, Planning, Portfolio Management, Project Management, Risk Management, Stakeholder Management