Risk management means having a contingency plan in case of unexpected developments
Every time you embark on a new project you should include a risk management plan? How often do you forget? With iSpec’s project templates it is impossible to start a new project without including and preparing for all contingencies.
It is important to have a risk management team to identify and manage risks and responses. It is also important to have alternate team members. This should be part of your risk management template to be included in all projects.
Your risk matrix should contain all foreseeable risks ranked by probability and impact. Regular revision and updating of the matrix is essential in mitigating project risks. For example.
Your risk register contains all risks you have identified, the counter measures being taken, who the owner is and the current status. A good risk register should automatically send reminders to the risk management team to follow up on progress. For example.