Risk

• Purpose
• Risk defined
  • What is a risk?
  • What is at risk?
  • What is risk management?
• Management of Risk
  • M_o_R_principles
• Risk management in projects
• Risk Management Strategy
• Risk Register
• Risk management procedure
  • Overview
  • Identify part 1
  • Identify part 2
  • Assess
  • Plan
  • Implement
  • Communicate
• Risk budget
• Responsibilities

Key sections

• Introduction
• Business case
• Organization
• Quality
• Plans
• Risk
• Change
• Progress
• Introduction to processes
• Starting up a projectDirecting a project
• Initiating a project
• Controlling a stage
• Managing Product Delivery
• Managing a Stage Boundary
• Closing a Project
• Tailoring PRINCE2 to the project environment
• Directing Projects with PRINCE2

Responsibilities

Below outlines the responsibilities relevant to the Risk theme.
For further details of project management team roles and their associated responsibilities see the section covering ‘Roles and responsibilities’.

Corporate or programme management

Provide the corporate risk management policy and risk management process guide (or similar documents).

Executive

Be accountable for all aspects of risk management and, in particular, ensure a project Risk Management Strategy exists.
Ensure that risks associated with the Business Case are identified, assessed and controlled.
Escalate risks to corporate or programme management as necessary.

Senior User

Ensure that risks to the users are identified, assessed and controlled (such as the impact on benefits, operational use and maintenance).

Senior Supplier

Ensure that risks relating to the supplier aspects are identified, assessed and controlled (such as the creation of the project’s products).

Project Manager

Create the Risk Management Strategy.
Create and maintain the Risk Register.
Ensure that project risks are being identified, assessed and controlled throughout the project lifecycle.

Team Manager

Participate in the identification, assessment and control of risks.

Project Assurance

Review risk management practices to ensure that they are performed in line with the project’s Risk Management Strategy.

Project Support

Assist the Project Manager in maintaining the project’s Risk Register.

Risk management is a large area and is covered in depth in ‘The Complete Risk Management package’.

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