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Risk Management
Location: BlogsDick Morley    
Posted by: Dick Morley 1/9/2008

Risk management helps get a project done, on budget and on time.

We need to become professional managers. Risk management is a tool that is seldom used in marketing and tool development. Risk, the probability of something happening that impacts your objective, is a chance to make either a gain or a loss. It is measured in terms of likelihood and consequence and, in this business, "holy shit" is an acceptable term.

  • Don't use an immature process for analysis.
  • Use the natural habitat of the project.
  • Teach and train formally and often.
  • Think risk beginning to end, collect data from beginning to end.
  • Risk and opportunity go hand in hand.
  • We tend to treat projects as an art form, but it really is engineering. Comments? Dick Morley

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    Re: risk management    By Scott Boutwell on 1/10/2008
    I think 'risk' and 'opportunity' should go hand in hand. Effectively managing risk (acknowledgement of, development and dissemination of best practices, continual improvement) can be a significant differentiator to owners; important when it comes to new business development.

    When risk management is viewed alone, the tendency is to minimize, consider one-offs, or conduct with reluctance. Viewed in light of growth and business development, risk management can be a powerful tool for revenues and probably better margins too.

    My blog: www.scottboutwell.blogspot.com (AEC / Environmental Trends)


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