Risk Orienting Planning

Risk-oriented planning includes the necessary steps to identify the potential risks of the project, create strategies against these risks, and make the project more resistant to these risks. Here are the steps you should consider when doing risk-focused planning:

Identifying Risks:

• Identify risks that may occur at different stages of the project.
• Identify similar risks by evaluating lessons learned from past projects.
• Get the team’s and external stakeholders’ views on potential risks to the project.

Assessing Risks:

• Evaluate each risk in terms of likelihood and impact. Probability represents the probability of the risk occurring, and impact represents the extent of damage that will occur if it occurs.
• Use methods such as probability-impact analysis to prioritize risks.

Developing Strategies Against Risks:

• Accept: Accept the effects of the risk if it occurs and adjust your project plan accordingly.
• Mitigation (Mitigate): Take measures to reduce risks. This involves developing strategies to reduce the likelihood or impact of the risk.
• Avoid: Change the strategy or structure of the project to avoid the risk.

Monitoring and Updating Risks:

• Monitor the evolution of risks as the project progresses.
• If new risks arise, update your plan and create strategies against new risks.
• Periodically review the risk management plan and keep it updated.

Stakeholder Communication:

• Share the risks of the project and the measures taken by communicating with stakeholders regularly.
• Update your assessments by getting stakeholders’ opinions about the risks in the project.

Team Training and Awareness:

• Educate the team and raise awareness about risks and risk management in the project.
• Establish risk management policies and procedures and provide guidance to team members.

Flexibility and Reaction Speed:

• Provide flexibility against unexpected risks that may occur in the project. Create a structure that can make changes to your plan and strategies.
• Have processes in place to respond quickly and effectively when risks materialize.

Risk-focused planning is not just one step in project management, it is a continuous process. Evaluating, managing and updating risks at every stage of the project contributes to the successful completion of the project.