Reduce 80% problems on projects
Some experts have said that a strong risk management process can decrease problems on a project by as much as 80 or 90 percent. In combination with solid project management practices–having a well-defined scope, incorporating input from the appropriate stakeholders, following a good change management process, and keeping open the lines of communication–a good risk management process is critical in cutting down on surprises, or unexpected project risks. Such a process can also help with problem resolution when changes occur, because now those changes are anticipated and actions have already been reviewed and approved, avoiding knee jerk reactions.
Read further on this CIO article – Project Risk Management – Practical and Effective Approach
