Your Project Management Coach by Bonnie Biafore & Teresa Stover

Author:Bonnie Biafore & Teresa Stover
Language: eng
Format: epub
Publisher: John Wiley & Sons
Published: 2012-01-22T16:00:00+00:00

More complex projects might need an elaborate risk management plan that describes risk management methodology, the roles and responsibilities of a dedicated risk management team, the risk budget and schedule, reporting formats, and risk tracking mechanisms and metrics.

The risk management plan becomes part of your project notebook and should be maintained in the same format — whether that's a binder, electronic files on a shared drive, or documents on a project intranet. The risk management plan is continually referenced by you, managing stakeholders, team members, and those who have risk tracking responsibilities. The risk management plan is also continually monitored and updated, especially as risks are tracked and change over the span of project planning and execution.

The Candid Coach: Between You and Me, We Have a Risk

Suppose one of your key stakeholders is a bit of a “hothead” whose antagonistic approach is a risk to the consensus you've gained for the project. You can't very well add that to the risk management plan you share with the team. But it's a risk you must manage like any other.

In a situation like this, you might set up an internal risk plan that only you and your project sponsor share.

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