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A Forward Looking Approach to Project ManagementBasics Mantras of Risk Management

A Forward Looking Approach to Project Management: Basics Mantras of Risk Management [In this chapter, the basic mantras of risk management are covered. Like the previous chapter on mantras in general project management, this is an advanced treatment on risks. Six cardinal mantras of Risk Management are defined here. The first mantra involves the understanding of a Risk Prioritizing Framework that incorporates the three basic parameters in defining priorities. The second mantra introduces a new concept called the Golden Rule of Risk Focus, which helps the project manager to understand how to take on priorities in the Risk Management Scenario. The third mantra touches upon focus and delegation of risks along the organizational hierarchy and taking it further from there. The fourth mantra introduces the reader to a new concept called the Risk Web that is used to define, understand, and control the risks in the organization. The fifth mantra touches upon the sensitive aspect of risk evaluation cycles. The last mantra touches on the alignment and leveraging of the Risk Breakdown Structures along the Work Breakdown Structures and the Organizational Breakdown Structures.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Forward Looking Approach to Project ManagementBasics Mantras of Risk Management

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Publisher
Springer Singapore
Copyright
© Springer Science+Business Media Singapore 2017
ISBN
978-981-10-0781-1
Pages
161 –172
DOI
10.1007/978-981-10-0782-8_10
Publisher site
See Chapter on Publisher Site

Abstract

[In this chapter, the basic mantras of risk management are covered. Like the previous chapter on mantras in general project management, this is an advanced treatment on risks. Six cardinal mantras of Risk Management are defined here. The first mantra involves the understanding of a Risk Prioritizing Framework that incorporates the three basic parameters in defining priorities. The second mantra introduces a new concept called the Golden Rule of Risk Focus, which helps the project manager to understand how to take on priorities in the Risk Management Scenario. The third mantra touches upon focus and delegation of risks along the organizational hierarchy and taking it further from there. The fourth mantra introduces the reader to a new concept called the Risk Web that is used to define, understand, and control the risks in the organization. The fifth mantra touches upon the sensitive aspect of risk evaluation cycles. The last mantra touches on the alignment and leveraging of the Risk Breakdown Structures along the Work Breakdown Structures and the Organizational Breakdown Structures.]

Published: Aug 10, 2016

Keywords: Risk management; Mantras; Risk prioritizing framework; Golden rule of risk focus; Focus and delegation of risks; Risk webs; Synchronizing risk definitions along risk webs; Risk evaluation cycles; Risk breakdown structure; Work breakdown structure; Organizational breakdown structure

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