PM ADVISORY:

The Power of Choice

By Michelle LaBrosse, PMP®
Founder & Chief Cheetah, Cheetah Learning

Think about all the important choices you make in life. What to do for a living? Who to partner with in business or life? Whether to raise a family or not? How to spend or save your money? How to spend your time? Where to volunteer?

Every day, we’re faced with choices, and I think sometimes we all forget about the power of choice and taking time to look at our choices and evaluate the risks. Risk management is one of those terms that engineers are very comfortable with, but other folks may shy away from the idea thinking it’s too complex.

So, let’s break down the idea of risk management, and then use energy independence as our example to think the process through.

Risk management is a continuous process which:

• Identifies risk

• Analyzes risk and its impact, and prioritizes risks that could do the greatest harm

• Develops and implements strategies to mitigate risk

• Tracks risks and risk-mitigation implementation plans

• Communicates key information about risk such as what you’re learning and what you’re seeing so your organization keeps getting smarter and can become pros at mitigating risk.

If you think about all the risks involved when it comes to a space mission, NASA surely knows a little something about risk. Let’s look at how they frame risk management.

To read entire paper Click Here English or Spanish

About the Author Michelle LaBrosse Author Michelle LaBrosse, PMP, is the founder of Cheetah Learning, the author of the Cheetah Success Series, and a prolific blogger whose mission is to bring Project Management to the masses. Cheetah Learning is a virtual company with 100 employees, contractors, and licensees worldwide. Recently honored by the Project Management Institute (PMI®), Cheetah Learning was named Professional Development Provider of the Year at the 2008 PMI® Global Congress. A dynamic keynote speaker and industry thought leader, Michelle was previously recognized by PMI as one of the 25 Most Influential Women in Project Management in the world. Michelle’s articles have appeared in over 100 publications and web sites around the world. She is a graduate of the Harvard Business School’s Owner President Manager’s (OPM) program and also holds engineering degrees from Syracuse University and the University of Dayton. She lives in Nevada with her family and likes to rejuvenate in Alaska where you’ll often find her kayaking, hiking, and riding her motorcycle. To contact Michelle, visit www.cheetahlearning.com. (PMP® is a registered trademark of the Project Management Institute.)