This video discusses the concept of a risk trigger; including what they are, how to derive them, and how to use them effectively to manage risk in your project environment.
- Good project risk managers resemble park rangers.…Park rangers construct towers to keep an eye…on the landscape, looking for signs of trouble.…This works well because where there's smoke,…there's usually fire.…You should do the same thing.…As smoke is the warning sign for fire,…I suggest you spend time…thinking of what are called risk triggers,…early warning signs like smoke…that indicate a project risk is about to become a reality.…
Let's look at two common types of risk trigger.…The first type of risk trigger…is one that gives you an immediate indication…that a risk may be happening.…You may have technical experts…that are going to join your project…at some point downstream.…You request these technical experts…to start attending status meetings…one month before they're due to start…so they can hit the ground running…and know what's happening on the project.…The time for them to participate has arrived,…you remind them of their commitment,…and they don't show up for the status meeting.…
This is a likely risk trigger that other priorities…
Note: This course follows the latest guidance from Project Management Institute, Inc., as outlined the PMBOK® 6 Guide.
- Explore why dealing with risks needs to be part of the everyday process used to manage a project.
- Learn to outline the most common, pragmatic approaches to identifying risks specific to a project.
- Recall methods for qualifying and quantifying your risks to determine specific risks and manage their costs.
- Examine the primary considerations for a project risk plan and what components should be included in every plan.
- Assess techniques that help you identify the overall risk a project presents to your business.
- Examine several risk analysis and filtering examples that help ensure you've addressed individual risks properly on your project.