Insurance: Risk Management

Risk Management

One step absent from this process is a “Risk Response Doing” step that focuses on executing the actions identified in the risk mitigation plan. In the defense of the PMBOK, these activities get moved to the project plan and scheduled with the regular work activities.However the apparent lack of a doing step mirrors a problem seen on many projects. Namely, that risk management is undertaken as a separate (sometimes once only) passive activity that does not drive enough action on the project to prevent the risk happening. As a result we see risks occurring and can point to the risk list to where it was identified, yet not enough was done to prevent it happening.The iterative nature of agile projects allow us to tackle high risk areas of the project sooner rather than later. This gets problems out in the open while there is still plenty of time and budget to work on them and reduces the effort invested in work that needs scrapping.