A Common Problem With Most Risk Management Processes
Most Projects start out enthusiastically with lots of energy and excitement. The Management team will determine a Risk Register is needed to satisfy the mandated corporate requirements or because it’s the right thing to do. A group of managers will gather and conduct a Risk Identification session, rank the risks and develop a few Response Plans and some action items. The team may meet a few times afterwards but soon the Risk Process is forgotten and the Risk Register becomes stale and out dated. Once and a while someone will call a meeting and refresh the Risk Register but the old actions will be forgotten or lost. Monitoring the Risks and their associated Responses and Actions becomes lost in the day to day running of the project.
Deploy a Project Management Risk Collaboration Tool that will establish a formal Risk Register and monitor the progress of the Risk Responses and Actions.