Recommendations for Implementing a Practical Risk Management Program
This final post in the series will be some recommendations on “how” to implement a practical risk management in your organization. Check out parts one and two for the “why” and “what” of practical risk management.
Educate Decision Makers - Practical risk management relies on buy in for the decision makers. Only by understanding the process can they make good decisions about which risks are accepted and which need to be reduced. A clear definition of risk severity levels is critical to this step.
Integrate to Existing Processes – Chances are you already have processes in place to manage and control new and changing technology and processes. Tie risk management to these processes instead of making another meeting. A Project Management Office, purchasing process, technical review process, and change management process are all great candidates to integrate with risk management. Try to catch the potential risks as early as possible in the process. It’s much, much easier to change a process or technology before implementation.