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In the 2021 Pulse of the Profession report, PMI found that organizations that had mature risk management practices were 2.5 times more likely to complete projects successfully compared to those that didn’t. Approximately 30% of failed projects cited inadequate risk identification or mitigation as a primary reason for failure. Start the new year off right by joining us for our upcoming webinar, "Understanding Positive Risks in Project Management", and learn some ways to prevent poor risk management from tanking your projects next year. Date: January 2, 2025 Time: 1-2 PM EST Register here: https://lnkd.in/gsWf79Tu

This Week's Blog Highlights: Essential Skills for Risk Management Our latest blog post dives deep into mastering the art of risk management. Here’s a quick rundown of what you’ll learn: ✴️ Risk Identification Skills: Discover diverse methods like brainstorming, checklists, and SWOT analysis to spot potential risks. ✴️ Risk Analysis Skills: Understand the importance of both qualitative and quantitative risk analysis. ✴️ Advanced Risk Manager Skills: Learn about strategic thinking and planning and how to align risk management with organizational goals. ✴️ Engagement with Leadership: Implementing strategic risk responses and engaging senior leadership in your risk management strategies. Don't miss these valuable insights to elevate your project management skills. Read the full article now and stay ahead of the game! Check out The Risk Blog for more information around Project Management, Project Risk Management, and Project Leadership. #TheRiskBlog #44RiskPM #ProactiveOverReactive #ProjectManagement #RiskManagement #Leadership #WeeklyHighlights

🌟 Project Management Insights: Effective Risk Management 🌟 Let’s talk risk management! Anticipating and tackling risks head-on can make or break your project. Here’s my playbook: 1. Identify Risks Early: Kick things off with a thorough risk assessment. Early detection means early action. 2. Risk Prioritization: Rank risks based on their potential impact and likelihood. Focus on the big hitters first. 3. Develop Mitigation Plans: Have a game plan for top-priority risks. Being prepared is half the battle. 4. Continuous Monitoring: Keep an eye on risks throughout the project. Stay agile and ready to adjust. 5. Engage Stakeholders: Bring stakeholders into the loop. Their insights can be game-changing. How do you manage risks in your projects? Drop your tips below! #ProjectManagement #RiskManagement #Leadership #StakeholderEngagement #PMTips

🔑 Mastering Risk Management in Project Management 🔑 Effectively managing risk is crucial for the success and sustainability of any project. Whether you're handling small tasks or overseeing large-scale operations, identifying, assessing, and controlling risks can prevent setbacks and drive success. In this presentation, I’ve highlighted key concepts of Risk Management, including: 1. Identifying and assessing risks 2. Developing mitigation strategies 3. Understanding risk tolerance and appetite 4. Monitoring and controlling risks 📊 These steps help ensure that your project stays on course while minimizing potential disruptions. Proactive risk management is the foundation for long-term project success! 👉 Check out my full presentation for valuable insights on how to enhance risk management in your projects. #RiskManagement #ProjectManagement #Leadership #Strategy #BusinessContinuity #RiskMitigation #PMBestPractices

I just re-read Risk Management for Project Driven Organizations by PMO genius Andy Jordan. If you are struggling to stand up your PMO and understand the importance of risk management application as a foundation this book is for you! I especially utilized section 3 and how to create organizational buy in for leadership and the ground level of employment. Thanks as always Andy!

🎯 Maneuvering through uncertainties is a core component of effective project management. 💡 Risk Management is not about avoiding risks but about understanding, managing, and leveraging them for our benefit. By identifying potential obstacles in advance, we can: • 🚀 Develop contingency plans • 💼 Allocate resources strategically • 🧩 Adapt to changes swiftly In essence, Risk Management empowers us to make informed decisions and execute projects with confidence. Remember, the goal isn't to eliminate risk entirely (an impossible task), but rather to anticipate and mitigate it as much as possible. It's all about balance! #RiskManagement #ProjectManagement #Leadership #Strategy Let's continue this conversation - feel free to share your thoughts or experiences on how risk management has impacted your projects!

The truth about project risk management: Risk management isn't about spreadsheets and matrices. It's about PEOPLE. Whether that's: 🔶Team members afraid to report bad news 🔶Stakeholders hiding conflicting priorities 🔶Vendors sugar-coating their capabilities If you don't build psychological safety in your team, no risk framework will save you. "We can just follow the risk management plan" is a myth. The truth is: Your team needs to feel safe enough to say "Houston, we have a problem" BEFORE it becomes a crisis. #44RiskPM #TheRiskBlog #ProjectManagement #RiskManagement #Leadership #ProactiveOverReactive

Risk Management in NPI: A Balancing Act of Strategy & Execution In NPI projects, risk management is the foundation of success. With a waterfall approach, risk avoidance, mitigation, and acceptance are vital at every phase. But here’s the key: early identification and proactive strategies set projects apart. - Avoidance is great, but what happens when risks slip through? -Mitigation keeps momentum going, while knowing when to accept risks can save time and resources. In my experience managing NPI projects, I've found that anticipating risks early is where real innovation happens. When we shine light on potential pitfalls, even the smallest overlooked detail can make the biggest impact. How do you approach risk in your projects? Let’s discuss👇 #ProjectManagement #NPI #RiskManagement #WaterfallMethodology #Leadership #Innovation

Is your project management strategy prepared to tackle the risks ahead? Effective risk management is the key to success. Our latest white paper dives deep into project risk management, helping you identify, mitigate, and even capitalize on risks to ensure your project meets its goals. What you’ll learn: - Risk identification and categorization - Strategies to manage known and unknown risks - How to exploit positive risks for unexpected opportunities Maximize your project’s success rate by preparing for challenges before they arise! Access the white paper now to get expert insights from Eliassen Group: https://lnkd.in/eSz4dks7 #ProjectManagement #RiskManagement #Agile #Leadership

⚠️ Every project has risks, but proper risk management can turn them into opportunities. ⚠️ In a recent project, we faced several significant risks—ranging from budget constraints to potential resource shortages. By conducting a thorough risk analysis and proactively addressing potential roadblocks, we: 1️⃣ Implemented a risk management plan. 2️⃣ Developed alternative strategies to ensure project continuity. 3️⃣ Reduced the impact of delays by 25%. Learning how to anticipate, mitigate, and respond to risks is critical to the success of any project. I’m always interested in hearing how others tackle risk management. Let’s chat! #RiskManagement #ProjectManagement #ProblemSolving #Leadership #PMP