Risk In Complex Operations
Risk Management Tools
Simplifying risk management
Providing risk management tools for better and simpler risk management.
Risk Education
Teaching through examples
We post examples of projects with
different risk scenarios and analyse what went wrong.
Read the latest RICO post
Scenario Analysis
Scenario analysis is a strategic planning method used to make flexible long-term plans. It is particularly valuable for managing uncertainty and risk by exploring and evaluating possible future events or conditions. What is Scenario Analysis? Scenario analysis is about developing and analyzing different possible scenarios that describe potential future events. Each scenario represents a set …
Risk Breakdown Structure (RBS)
In project management it is important to identify and manage risks effectively for a successful delivery of the project. A tool for this is the risk breakdown structure, also called RBS. Risk breakdown structure is a hierarchical representation of risks by their categories and subcategories. It organizes potential project risks into a more structural form, …
Risk Data Quality Assesment
Every risk analysis is performed using certain data and information. These critical inputs must adhere to a high standard of credibility, precision, and impartiality. After all, if the risk analysis iso be trusted, its foundation—the data—must be equally reliable. By employing risk data quality assessment, project managers can evaluate the credibility, quality, accuracy, and ease …
risk management
It does not have to be time consuming, complicated and expensive. But unfortunately it is most of the time… Especially in complex projects!
That is why we use risk management tools!
In risk management there is a number of tools, or methods, one can use to identify, rate and mitigate risk. These methods are a combination of simple and inexpensive ones, such as a brainstorming exercise. To the more complicated, expensive and time consuming ones, such as organisational risk governance and organisational risk communication.
The latest about risk management tools
Scenario Analysis
Scenario analysis is a strategic planning method used to make flexible long-term plans. It is particularly valuable for managing uncertainty and risk by exploring and evaluating possible future events or conditions. What is Scenario Analysis? Scenario analysis is about developing and analyzing different possible scenarios that describe potential future events. Each scenario represents a set …
Risk Breakdown Structure (RBS)
In project management it is important to identify and manage risks effectively for a successful delivery of the project. A tool for this is the risk breakdown structure, also called RBS. Risk breakdown structure is a hierarchical representation of risks by their categories and subcategories. It organizes potential project risks into a more structural form, …
Event Tree Analysis
ETA, also known as event tree analysis, is a systematic method used when trying to analyze accidents. This is done by breaking them down into a series of events. When doing ETA, you must start with an event called a “initiating event”. These will often refer to equipment failure, human error etc. From this initiating …
Educational Examples
With educational examples, our goal is to present the reader with situations or projects where a risk became an incident. By analysing what went wrong and what should have been done, we can hopefully provide valuable knowledge to the reader.
What went wrong
In these educational examples we present a case where a specific project or part of the projects have gone wrong. We try to examine where the “point-of-no-return” is (i.e., where the risk became an incident).
What should have been done
Then, when we know where the project went wrong, we will go back in time before the “point-of-no-return” and see what could have been done differently to avoid the risk becoming an incident.
What can we learn
By doing so, we can provide valuable knowledge and “experience” to, hopefully, get your critical thinking going, so you can avoid the same incidents in your projects!
The latest about our risk education content
Scenario Analysis
Scenario analysis is a strategic planning method used to make flexible long-term plans. It is particularly valuable for managing uncertainty and risk by exploring and evaluating possible future events or conditions. What is Scenario Analysis? Scenario analysis is about developing and analyzing different possible scenarios that describe potential future events. Each scenario represents a set …
Risk Breakdown Structure (RBS)
In project management it is important to identify and manage risks effectively for a successful delivery of the project. A tool for this is the risk breakdown structure, also called RBS. Risk breakdown structure is a hierarchical representation of risks by their categories and subcategories. It organizes potential project risks into a more structural form, …
Risk Data Quality Assesment
Every risk analysis is performed using certain data and information. These critical inputs must adhere to a high standard of credibility, precision, and impartiality. After all, if the risk analysis iso be trusted, its foundation—the data—must be equally reliable. By employing risk data quality assessment, project managers can evaluate the credibility, quality, accuracy, and ease …
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