Project Risk Management Roles and Responsibilities
PROJECT RISK MANAGEMENT ROLES AND RESPONSIBILITIES
Prof. Swati Oza (Asst. Profesor, JSPM’s Abacus Institute of Computer Application)
Prof. Shital Deshmukh (Asst. Profesor, JSPM’s Abacus Institute of Computer Application) Prof. Neha Tejwani (Asst. Profesor, JSPM’s Abacus Institute of Computer Application)
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Abstract
The benefits of risk management in projects are huge. You can gain a lot of money if you deal with uncertain project events in a proactive manner. The result will be that you minimize the impact of project threats and seize the opportunities that occur. This allows you to deliver your project on time, on budget and with the quality results your project sponsor demands. Also your team members will be much happier if they do not enter a "fire fighting" mode needed to repair the failures that could have been prevented.
It is important to note that the roles and responsibilities must be documented and included in the original project plan. For all intents and purposes, project risk management can be seen as a project within a project or alternatively a sub-project of the project.
Five separate roles can be defined for performing project risk management. These are:
• Project risk manager
• Project risk management team
• Project risk profile owners
• Project risk custodians
• Project team members
It is important that the project manager and team leaders show their support for the effort and motivate team members to contribute .On many projects, reporting a risk is rewarded by making the same person the risk profile owner. Doing this sends a message to other members that reporting a risk will lead to more work. If possible, team members should rather be incentivized to report risks.
Keyword:- Risk management procss, Risk management roles, Risk management responsibilities, Project Risk management culture.
1. INTRODUCTION
There is no denying the importance of risk management on modern day projects
Prof. Swati Oza (Asst. Profesor, JSPM’s Abacus Institute of Computer Application)
Prof. Shital Deshmukh (Asst. Profesor, JSPM’s Abacus Institute of Computer Application) Prof. Neha Tejwani (Asst. Profesor, JSPM’s Abacus Institute of Computer Application)
__________________________________________________________
Abstract
The benefits of risk management in projects are huge. You can gain a lot of money if you deal with uncertain project events in a proactive manner. The result will be that you minimize the impact of project threats and seize the opportunities that occur. This allows you to deliver your project on time, on budget and with the quality results your project sponsor demands. Also your team members will be much happier if they do not enter a "fire fighting" mode needed to repair the failures that could have been prevented.
It is important to note that the roles and responsibilities must be documented and included in the original project plan. For all intents and purposes, project risk management can be seen as a project within a project or alternatively a sub-project of the project.
Five separate roles can be defined for performing project risk management. These are:
• Project risk manager
• Project risk management team
• Project risk profile owners
• Project risk custodians
• Project team members
It is important that the project manager and team leaders show their support for the effort and motivate team members to contribute .On many projects, reporting a risk is rewarded by making the same person the risk profile owner. Doing this sends a message to other members that reporting a risk will lead to more work. If possible, team members should rather be incentivized to report risks.
Keyword:- Risk management procss, Risk management roles, Risk management responsibilities, Project Risk management culture.
1. INTRODUCTION
There is no denying the importance of risk management on modern day projects
References: • PMI. A Guide to the Project Management Body of Knowledge; PMI; ISBN 1-880410-25-7, 2000 • Software Risk Management - A Practical Guide, Department of Energy Quality Managers, Software Quality Assurance Subcommittee, Reference Document SQAS21.01.00 – 1999, http://cio.doe.gov/sqas, February, 2000.