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Techniques   »   Risk Management   »   Manage the Risks


As part of the Setup you may elect to perform an early risk assessment workshop and within the workshop you will probably benefit from generating a RIP Graph to document and report the risks identified at this early stage in the project.



RIP Graph: RIP stands for risks impact and probability.

You will certainly have project risks and with the graph you can easily identify the risks that have both high probability and high impact. As with all risks, there are two important factors: impact and probability.

If the risk actually occurs how severe is it likely to be? This is the impact. The likelihood of a risk occurring is a measure of its probability. High impact and high probability are determined by the actions or reactions of the team.

For example, the actual risk of having your project failing, if you run it sensibly, is low. Run it casually and without control and the risk becomes high.

Risks however are managed openly and regularly with the attendees of the Daily Forum.

A risk can never go more than one day before it is raised, assessed or work is performed to mitigate the risk or eradicate its effects on the projects.

There is more information on the management of risks in the dedicated section on this subject within the Toolkit.
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Manage the Risks






   


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