The risk management is a process that enables the individual risk events and the general risk to be proactively understood and managed, by minimizing the threats and optimizing the opportunities to the success.
The risk can come from both internal and outsourcing. External risks are the risks that are not directly in control of management. These; Political issues are currency rates, interest rates and situations. Internal risks include other people, as well as violations of non-compliance or information.
In recent years, many companies have added the risk management department to the team. The role of this team is to describe the risks, to find strategies to protect against these risks, to implement these strategies and motivate all members of the company in these strategies. Larger organizations are often faced with more risk, so risk management strategies must also be better quality. In addition, the risk management team is responsible for assessing each risk and determining which one is critical to the business. Critical risks are the risks that may have a negative impact on work; These should be given importance and priority should be given. The entire purpose of risk management is to enable the company to take risks to achieve their primary objectives while keeping all other risks under control.
As a project manager or team member, you manage risk daily; This is one of the most important things you do. If you learn how to implement a systematic risk management process, and if you undergo the basic 5 risk management process steps, your projects work more smoothly and become a positive experience for anyone concerned.
Step 1: Determine the risk. If you and your team reveal and describe the risks that may affect your project or the results that are targeting. Evaluate the techniques you can use to find project risks.
Step 2: Analyze the risk. Have reported the possibility and result of each risk after the risks are determined. In line with the nature of the risk, develop an understanding of the potential to affect your project objectives and goals.
Step 3: Rate or sort risk. Sort these risks by determining the risk size, which is a combination of probability and the result. Decide whether the risk is acceptable or not serious enough to require solution.
Step 4: Treat the risk. This is also called Risk Response Planning (Risk Response Planning). During this step evaluates your highest grade risks and prepare a plan to treat or change these risks to reduce the acceptable risk level.
How can you minimize the possibility of negative risks as well as increasing the opportunity? In this step, you create risk reduction strategies, preventive plans and unexpected status plans.
Risk is related to uncertainty. If you remain blind to this uncertainty, you will seriously risk your project. This means that you are not moving enough to achieve your project goals. By identifying a list of comprehensive project risks and managing, unpleasant surprises and obstacles can be reduced at the same time in golden opportunities can be discovered.