PM ADVISORY:

Risks in Projects: A Synopsis of the Risk Assessment/Management Journey

(Part 10 in a Series)

By Glenn R. Koller, PhD

Tulsa, Oklahoma, USA

This is the last in the series of 10 articles on risk assessment and management (RA/M). Just like implementation of a RA/M process in any organization, this series of short diatribes has been a journey. Of course, it is impractical to attempt to encapsulate the details of each previous article in his last one, but it is entirely feasible to attempt to here relate the highlights of the journey. Below I have organized the synopsis into sections on organizational/cultural issues, technical aspects, risk management, and recommendations for successful implementation of RA/M.

Just some of the organizational/cultural stuff

To the uninitiated, it might seem as though RA/M is all about measuring threats and opportunities (i.e., risks) and implementing processes to mitigate (threats), capture (opportunities), and manage risks. While measurement and management are secondary tenets of any RA/M scheme, it is really all bout changing behaviors – of organizations and of individuals.

With regard to implementing a RA/M process in any organization, the statement: “We get rewarded for successfully launching a project and not necessarily for launching a successful project” captures and encapsulates both the essence of the challenge and the basis for remedy. Articles 1 and 2 primarily addressed these issues.

To read entire paper Click Here

About the Author Glenn R. Koller, PhD Author Dr. Glenn Koller received his Ph.D. in geochemistry/geophysics from Syracuse University. In his career Glenn has held positions with the Department of Energy, DuPont, Amoco, BP, and Schlumberger. Glenn’s primary focus for the past 20 years has been on aspects of risk-and-uncertainty analysis, management, and training. Responsibilities included implementation of risk-assessment/management technologies and processes; development of statistical routines that comprise risk systems; marketing risk technology; and performing technical and consulting services. Areas of responsibility include business and product development, environmental concerns, ranking and prioritization of projects and products, analysis of legal commercial, security, logistical, financial etc. scenarios and other aspects of a diversified business. Glenn has authored four books on risk/uncertainty and currently resides in Tulsa, Oklahoma. Glenn may be contacted at riskaid@cox.net.