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
What Can Go Wrong Will Go Wrong
Managing a large-scale construction project is no small task. There are many moving parts, stakeholders with which to communicate, supplies to order, funding to obtain, permits to acquire, and safety to consider. With this understanding, it may not be a surprise to hear that time delays are quite common within construction projects. However, recent reports …
Controls to Reduce Risk & Pitfalls to Avoid
Introduction There are numerous controls to avoid and reduce the risks to your project or organization. Though the risk is not always avoidable, there are ways to alter it. Below are proven controls used to alter risk. Controls - Engineering Controls: these are controls that reduce risk using engineering methods. This can include: 1. How …
Continue reading "Controls to Reduce Risk & Pitfalls to Avoid"
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
Risk communication
Risk communication, a specialised branch within communication, is as important as risk governance. If you can't communicate risk within the organisation, how do you expect to handle risk?
Risk governance
Risk governance is not as much a tool as a way of running an organisation (risk wise). Risk governance should already be a thing in every organisation and if it isn't in yours, the read this post...
SWOT analysis
Most project managers know this tool. But it can be used to manage risk as well as the standard project management use. Read more to find out how...
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
Fault Tree Analysis (FTA)
Introduction The fault tree analysis, also known as FTA, is a model used to understand how systems or processes fail. Furthermore, it helps with identifying the best way to reduce risk and to determine the probability of an event occurring. The FTA shares many of the same aspects as the BowTie Analysis (BTA). The model …
Sendai Framework
This article describes the disasters page, how The Sendai Framework on Disaster Risk Reduction reduces disaster risks in people's economic, physical, social, cultural and environmental assets, community economics and business. Introduction A project manager encounters problems, without notice. No matter what you plan, those questions will occur. Therefore, Sendai Framework methods are an important tool to use, …
Have you considered black swans in your planning?
What are black swans? Every project will run into problems and unexpected risks. No matter how much you plan, these issues will arrive. They often come in different sizing from minor to devastating. Often the minor problems can be solved by carefully laid out contingency plans and great planning. However greater risks and problems can become …
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