A project manager is more than just a scheduler and a recorder of events that happened. To be truly pro-active, a pm must anticipate and prepare, for the events that are scheduled to happen and also for the things that go off track.
In surveys of project managers, approximately 70% of unscheduled project events: delays and cost overruns, and accidents can be anticipated by the experienced project manager. Risk management is the systematic process of identifying, analyzing and responding to project risk. Adopting risk management in your project will reduce costs, delays and improve project success.
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The risk management process may seem onerous to inexperienced project managers. The benefits far outweigh the few hours required to do risk management. By adopting a software tool, the effort is minimal and the impact is most positive. Software such as RiskMP will allow you to share project successes and challenges, and extend the positive impacts of risk management from the RFP stage to Lessons Learned and project completion.
Risk management software can guide you through the complexities of the risk management process while simultaneously providing you with a means to share and communicate the important information that is developed in this process. For more information go to: riskmp.com
A comprehensive discussion of risk management topics is available at:constructiontalks.com