{"id":987517213,"date":"2024-02-14T09:23:52","date_gmt":"2024-02-14T09:23:52","guid":{"rendered":"https:\/\/pmchampions.com\/risk-management\/"},"modified":"2024-02-26T07:56:00","modified_gmt":"2024-02-26T07:56:00","slug":"project-risk-management","status":"publish","type":"post","link":"https:\/\/pmchampions.com\/en\/project-risk-management\/","title":{"rendered":"Project Risk Management"},"content":{"rendered":"\n[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_image src=&#8221;https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/Risks-en.png&#8221; alt=&#8221;Risks&#8221; title_text=&#8221;Risks&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][pac_divi_table_of_contents title=&#8221;Summary&#8221; collapse_when_sticky=&#8221;on&#8221; opened_icon=&#8221;&#x3a;||divi||400&#8243; closed_icon=&#8221;&#x3b;||divi||400&#8243; included_headings=&#8221;off|on|on|off|off|off&#8221; exclude_headings_by_class=&#8221;on&#8221; show_keyword_highlight=&#8221;on&#8221; show_keyword_highlight_placeholder=&#8221;Mots Cl\u00e9s &#8230;&#8221; title_container_bg_color=&#8221;#1a9e21&#8243; body_area_height=&#8221;650px&#8221; body_area_scroll_color=&#8221;#606060&#8243; body_area_text_link_color=&#8221;#595959&#8243; body_area_text_link_underline=&#8221;#007ce2&#8243; body_area_text_link_padding=&#8221;10px|0px|0px|0px|false|false&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; title_font_font=&#8221;Quicksand||||||||&#8221; 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background_color=&#8221;#f0f3f6&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<div class=\"ControlZone ControlZone--clean a_b_50a7110f\" data-automation-id=\"CanvasControl\" id=\"cb33b57f-7ebe-44dd-a7d8-51b1a8786501\">\n<div class=\"ControlZone--control\">\n<div data-sp-feature-tag=\"Rich Text Editor\" class=\"rte-webpart rte--ck5 rte--read-ck5 headerFontSizeLegacy uniformSpacingForElements\" data-sp-feature-instance-id=\"cb33b57f-7ebe-44dd-a7d8-51b1a8786501\" dir=\"auto\">\n<div data-automation-id=\"textBox\" class=\"ck-content rteEmphasis root-179\">\n<blockquote>\n<p><span class=\"fontSizeXSmall\">\u200b\u200b\u200b\u200b\u200b<\/span><span class=\"fontSizeLarge\"><span class=\"fontColorNeutralDark\">&#8220;<\/span><i><span class=\"fontColorNeutralDark\">You have to take the maximum risks with the maximum precautions<\/span><\/i><span class=\"fontColorNeutralDark\">&#8220;<\/span><\/span><\/p>\n<p><strong><span class=\"fontSizeLarge\"><span class=\"fontColorNeutralDark\"> <\/span><\/span><span class=\"fontSizeSmall\"><span class=\"fontColorNeutralDark\">Rudyard Kipling<\/span><\/span><\/strong><\/p>\n<\/blockquote>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ControlZone ControlZone--clean a_b_50a7110f\" data-automation-id=\"CanvasControl\" id=\"8b34bc46-447f-41c5-8331-4c5f9c12197f\">\n<div class=\"ControlZone--control\">\n<div id=\"vpc_WebPart.DividerWebPart.internal.8b34bc46-447f-41c5-8331-4c5f9c12197f\" data-viewport-id=\"WebPart.DividerWebPart.internal.8b34bc46-447f-41c5-8331-4c5f9c12197f\">\n<div data-sp-feature-tag=\"DividerWebPart web part (S\u00e9parateur)\" data-sp-feature-instance-id=\"8b34bc46-447f-41c5-8331-4c5f9c12197f\" data-sp-web-part-id=\"2161a1c6-db61-4731-b97c-3cdb303f7cbb\"><\/div>\n<\/div>\n<\/div>\n<\/div>[\/et_pb_text][dipl_separator seprator_thickness=&#8221;1px&#8221; separator_color=&#8221;rgba(0,0,0,0.54)&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/dipl_separator][et_pb_text module_class=&#8221;blue-list&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2>General Culture: The Notion of Risk<\/h2>\n<span class=\"fontSizeLarge\"><span class=\"fontColorThemePrimary\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/risk-1.png\" width=\"273\" height=\"273\" alt=\"\" class=\"wp-image-987517173 aligncenter size-full\" style=\"display: block; margin-left: auto; margin-right: auto;\"><\/span><\/span>\n<div class=\"ControlZone ControlZone--clean a_b_50a7110f\" data-automation-id=\"CanvasControl\" id=\"00000000-0000-0000-0000-100000000006\">\n<div class=\"ControlZone--control\">\n<div data-sp-feature-tag=\"Rich Text Editor\" class=\"rte-webpart rte--ck5 rte--read-ck5 headerFontSizeLegacy uniformSpacingForElements\" data-sp-feature-instance-id=\"00000000-0000-0000-0000-100000000006\" dir=\"auto\">\n<div data-automation-id=\"textBox\" class=\"ck-content rteEmphasis root-179\">\n<p style=\"text-align: left;\"><span class=\"fontSizeMedium\"><span>According to ISO Guide 73, revised during the development of ISO 31000:2009, risk is defined as &#8220;the effect of uncertainty on objectives&#8221;.  <\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span class=\"fontSizeMedium\"><span>An additional note clarifies that risk is often defined in terms of potential events and consequences, or a combination of both.<\/span> <\/span><\/p>\n<span class=\"fontSizeMedium\">Care should be taken to distinguish the concept of risk from other related concepts:<\/span>\n<ul>\n\t<li><span class=\"fontSizeMedium\"><strong>Unforeseen<\/strong> : unidentifiable virtual event,<\/span><\/li>\n\t<li><span class=\"fontSizeMedium\"><strong>Contingency<\/strong> : identifiable but non-quantifiable virtual event,<\/span><\/li>\n\t<li><span class=\"fontSizeMedium\"><strong>Risk<\/strong> : identifiable and quantifiable virtual event,<\/span><\/li>\n\t<li><span class=\"fontSizeMedium\"><strong>Problem: Virtual<\/strong> event already completed.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>[\/et_pb_text][dipl_separator seprator_thickness=&#8221;1px&#8221; separator_color=&#8221;rgba(0,0,0,0.54)&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/dipl_separator][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<div class=\"ar_i_658c9e0a\" data-automation-id=\"webPartHeader\">\n<div class=\"r_e_658c9e0a n_e_658c9e0a i_e_658c9e0a css-212 o_e_658c9e0a u_e_658c9e0a title-207 at_i_658c9e0a captionElement ___fcbuvx0 fi9rgjt fgqasa8 fsuhj5t fkokv f1i9syfy f1x12gp6 fqvzrsy f2bep26 f1tu8q7w f2ks0s9\" data-automation-id=\"captionElement\"><strong><span role=\"heading\" aria-level=\"2\" id=\"CaptionElementView\" data-automation-id=\"webPartTitleReadMode\">Learn more<\/span><\/strong><\/div>\n<div class=\"r_e_658c9e0a n_e_658c9e0a i_e_658c9e0a css-212 o_e_658c9e0a u_e_658c9e0a title-207 at_i_658c9e0a captionElement ___fcbuvx0 fi9rgjt fgqasa8 fsuhj5t fkokv f1i9syfy f1x12gp6 fqvzrsy f2bep26 f1tu8q7w f2ks0s9\" data-automation-id=\"captionElement\"><strong><span role=\"heading\" aria-level=\"2\" data-automation-id=\"webPartTitleReadMode\"><\/span><\/strong><\/div>\n<div class=\"r_e_658c9e0a n_e_658c9e0a i_e_658c9e0a css-212 o_e_658c9e0a u_e_658c9e0a title-207 at_i_658c9e0a captionElement ___fcbuvx0 fi9rgjt fgqasa8 fsuhj5t fkokv f1i9syfy f1x12gp6 fqvzrsy f2bep26 f1tu8q7w f2ks0s9\" data-automation-id=\"captionElement\">\n<div role=\"presentation\" class=\"ms-List-cell\" data-list-index=\"0\" data-automationid=\"ListCell\">\n<div>\n<div>\n<div role=\"listitem\">\n<div class=\"content-217\" data-automation-id=\"button-card\">\n<div class=\"textArea-404\">\n<div class=\"labelTextWrapper-407\">\n<div class=\"___1m0vepi f1bxpd7w fnk6ys4 f9uzi6y fi143g8 fwk94im f1bfn183\" data-is-visible=\"true\">\n<div title=\"Wikipedia - Risk Management\" class=\"css-224\" data-automation-id=\"quick-links-item-title\" id=\"QuicklinksItemTitle\"><a href=\"https:\/\/en.wikipedia.org\/wiki\/Risk_management\">Wikipedia &#8211; Risk Management<\/a><\/div>\n<div title=\"Wikipedia - Risk Management\" class=\"css-224\" data-automation-id=\"quick-links-item-title\"><a href=\"https:\/\/www.iso.org\/iso-31000-risk-management.html\">ISO &#8211; Risk Management<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_4,3_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||40px||false|false&#8221; link_option_url=&#8221;https:\/\/pmchampions.com\/en\/how-to-apply-contract-effectively-to-agile-project\/&#8221; link_option_url_new_window=&#8221;on&#8221; border_radii=&#8221;on|0.25rem|0.25rem|0.25rem|0.25rem&#8221; border_width_all=&#8221;1px&#8221; border_color_all=&#8221;#dee2e6&#8243; box_shadow_style=&#8221;preset3&#8243; box_shadow_vertical=&#8221;5px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;1_4&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_image src=&#8221;https:\/\/pmchampions.com\/wp-content\/uploads\/2023\/09\/Agile-Contract-en.png&#8221; title_text=&#8221;Contractualisation&#8221; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; width=&#8221;100%&#8221; width_tablet=&#8221;100%&#8221; width_phone=&#8221;100%&#8221; width_last_edited=&#8221;on|tablet&#8221; max_width=&#8221;100%&#8221; custom_margin=&#8221;-11px||-11px||false|false&#8221; custom_padding=&#8221;|10px||10px|false|false&#8221; border_radii=&#8221;on|5px|5px|5px|5px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][\/et_pb_column][et_pb_column type=&#8221;3_4&#8243; _builder_version=&#8221;4.22.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;Quicksand||||||||&#8221; text_text_color=&#8221;#619ccd&#8221; text_font_size=&#8221;26px&#8221; text_line_height=&#8221;1em&#8221; custom_margin=&#8221;|||-40px|false|false&#8221; custom_margin_tablet=&#8221;|15px||15px|false|false&#8221; custom_margin_phone=&#8221;|15px||15px|false|false&#8221; custom_margin_last_edited=&#8221;on|tablet&#8221; text_font_size_tablet=&#8221;20px&#8221; text_font_size_phone=&#8221;20px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h6><span style=\"color: #808080;\"><strong>Agility:<\/strong><\/span><\/h6>\n<p><strong><span style=\"color: #ff6600;\"><a href=\"https:\/\/pmchampions.com\/en\/agility-and-scrum\/\" target=\"_blank\" rel=\"noopener\" style=\"color: #ff6600;\">Discover our articles on agility<\/a><\/span><\/strong><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;blue-list list_space&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2>What is risk in project management?<\/h2>\n<span>A risk is an event or situation that is likely to impact at least one project objective, such as schedule, cost, quality, product performance, compliance with specifications, customer satisfaction, or the company&#8217;s image.<\/span>\n\nA risk essentially implies a potential deviation from forecasts, having a significant impact that is difficult to accept.\n\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/risk.png\" width=\"305\" height=\"305\" alt=\"\" class=\"wp-image-987517176 aligncenter size-full\">\n\nIt takes the form of probable, identified and measurable <strong>losses<\/strong> , such as:\n<ul>\n\t<li>The application <strong>of late penalties<\/strong> in the event of non-compliance with the schedule.<\/li>\n\t<li>The loss <strong>of margin<\/strong> on the project, or even a net loss, if the budget is exceeded.<\/li>\n\t<li>Customer <strong>dissatisfaction<\/strong> can lead to disputes in the event of a quality defect.<\/li>\n\t<li><strong>User complaints<\/strong> about non-compliance<\/li>\n<\/ul>[\/et_pb_text][et_pb_image src=&#8221;https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/sea-risk.jpg&#8221; title_text=&#8221;sea-risk&#8221; align=&#8221;center&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||40px||false|false&#8221; border_radii=&#8221;on|5px|5px|5px|5px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f0f3f6&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;list_space&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2>When to manage risk?<\/h2>\n<p>Risk management is a constant concern <strong>throughout the life cycle<\/strong> of a project, from its initial commercial phase to its accounting close.<\/p>\n<p>It is of structuring importance from the pre-sales phase, as it determines the <strong>provisions for risks<\/strong>, and during the launch of the project (initialization or Sprint #0).<\/p>\n<p>During execution, <strong>constant monitoring<\/strong> is essential.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;blue-list list_space&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||21px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2>Who manages the risks?<\/h2>\n<p>The project manager, project <strong>manager or project<\/strong> \/program <strong>director<\/strong> , is on the front line to ensure visibility into risks and, as much as possible, prevent them from turning into problems.<\/p>\n<p>However, <strong>all project collaborators<\/strong> have a shared responsibility in identifying and managing risks operationally.<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f0f3f6&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;list_space&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2>How to manage risks?<\/h2>\n<p>The risk management process is structured around four main steps:<\/p>\n<ol>\n<li>Risk <strong>identification<\/strong><\/li>\n<li>Risk <strong>assessment<\/strong> ,<\/li>\n<li>Risk <strong>management<\/strong> ,<\/li>\n<li>Risk <strong>monitoring and reporting<\/strong> .<\/li>\n<\/ol>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;blue-list list_space&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2>Risk identification<\/h2>\nThe first step in the risk management process is to identify events that could potentially negatively impact project objectives.\n\nThis step is crucial from the pre-sales phase to assess the risks. It is essential to involve all project stakeholders in order to spot potential problems and address all types of risks.\n\nExamples of questions to consider:\n<ul>\n\t<li><strong>Functional risks<\/strong> : Is understanding the client&#8217;s needs and requirements sufficient to clearly define the scope of the project and estimate costs accurately?<\/li>\n\t<li><strong>Organizational risks<\/strong> : do we have the adequate and competent human resources to manage the project according to the client&#8217;s constraints?<\/li>\n\t<li><strong>Technological risks<\/strong> : Is the required technology well mastered and experienced to ensure the success of the project?<\/li>\n\t<li><strong>Financial risks<\/strong> : Is the customer solvent? Are penalty clauses acceptable?<\/li>\n\t<li><strong>Security risks<\/strong> : Does the project require enhanced security measures? Is the customer exposed to significant security risks?<\/li>\n\t<li><strong>External risks<\/strong> : Are there any dependencies with unknown third parties or regulations that could affect the project?<\/li>\n<\/ul>\nTo identify risks, several approaches can be used, such as:\n<ul>\n\t<li><strong>analysis<\/strong> of the documentation,<\/li>\n\t<li><strong>interviews<\/strong> with internal and external stakeholders,<\/li>\n\t<li><strong>brainstorming<\/strong> sessions,<\/li>\n\t<li><strong>feedback<\/strong> on similar projects, and the use of checklists or questionnaires.<\/li>\n<\/ul>\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/brainstorm.png\" width=\"218\" height=\"218\" alt=\"\" class=\"wp-image-987517191 aligncenter size-full\">\n\nIn addition to identifying them, it is also necessary to detail the risks. To be considered valid, a risk must include the following:\n<ul>\n\t<li>Description of risk<\/li>\n\t<li>Causes of the risk<\/li>\n\t<li>Consequences of risk<\/li>\n\t<li>Risk Driver<\/li>\n\t<li>Risk assessment (qualitative and quantitative)<\/li>\n\t<li>Risk-related treatment plan<\/li>\n<\/ul>\n<blockquote>It is important to produce a sufficiently detailed list of risks, to clearly distinguish between risks and problems, and not to confuse the two.<\/blockquote>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f0f3f6&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||7px|||&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<h2>Risk assessment<\/h2>\n<p>Assessing risks helps determine their consequences if they arise as problems.<\/p>\n<p>This assessment is based on two main axes: the impact of the risk if it materializes and its probability of occurrence. These two variables are used to define the severity of the risk.<\/p>\n<p><span style=\"text-decoration: underline;\"><br \/><strong>The impact of a risk<\/strong><br \/><\/span> should be considered in four aspects: cost, time, quality, and compliance with requirements.<\/p>\n<p>For each project, it is necessary to define a specific scale in order to homogenize and make the qualitative risk assessment more reliable. Using a matrix can make this easier, for example:<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/impact-en.jpg\" width=\"992\" height=\"249\" alt=\"\" class=\"wp-image-987517147 aligncenter size-full\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span class=\"fontSizeMedium\">Determining the <span style=\"text-decoration: underline;\"><strong>probability of a risk<\/strong><\/span> <strong><u>occurring<\/u><\/strong> is <span>equivalent<\/span> to estimating the probability that the risk will occur, on the day of risk identification, on a scale of <span>1 to 4:<\/span><\/span><\/p>\n<p><span class=\"fontSizeMedium\"><span><\/span><\/span><\/p>\n<p><span class=\"fontSizeMedium\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/probabilty-en.jpg\" width=\"993\" height=\"249\" alt=\"\" class=\"wp-image-987517151 aligncenter size-full\" \/><\/span><\/p>\n<p><span class=\"fontSizeMedium\"><\/span><\/p>\n<p><span class=\"fontSizeMedium\"><u><strong> <strong>Severity<\/strong><\/strong>, also known as criticality, is defined by the product of the impact of the risk and its probability of occurrence:<\/u><\/span><\/p>\n<blockquote>\n<p><strong><span class=\"fontSizeMediumPlus\">S = P x I<\/span><\/strong><\/p>\n<\/blockquote>\n<p><span class=\"fontSizeMedium\">The severity is materialized in the form of a crossover table, on which the risks identified and assessed can be positioned:<\/span><\/p>\n<p><span class=\"fontSizeMedium\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/matrice-severity-en.jpg\" width=\"400\" height=\"274\" alt=\"\" class=\"wp-image-987517149 aligncenter size-full\" \/><\/span><\/p>\n<p>&nbsp;<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;blue-list list_space&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2>Risk management<\/h2>\n<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-wzemg-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-wzemg-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-87\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div data-message-author-role=\"assistant\" data-message-id=\"c9dcb683-45c3-47bd-a099-d630169f81b8\" class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n\nRisks can be addressed through an <span style=\"text-decoration: underline;\">\n  <strong>action plan<\/strong>\n<\/span> as part of an appropriate response strategy. The objective is twofold: to <strong>reduce the probability<\/strong> of occurrence of the risk (<strong>prevention<\/strong>) and\/or to mitigate its impact (<strong>mitigation<\/strong>).\n\nThere are five possible treatment strategies:\n<ol>\n\t<li><strong>Avoidance<\/strong> : Changing risk factors at the source can prevent risk, such as adjusting the architecture during the initial design. The changes are then incorporated into the project plan.<\/li>\n\t<li><strong>Delegation<\/strong> : Risk can be transferred to an entity that is better equipped to manage it. For example, an IT security risk can be assigned to a specialized team. The project plan documents this delegation of responsibility.<\/li>\n\t<li><strong>Prevention<\/strong> : A risk can be mitigated by implementing preventive measures such as audits or specific tests, reducing the likelihood of occurrence.<\/li>\n\t<li><strong>Decision-making<\/strong> : If the risk is inherent in the project, it can be accepted or rejected by the company&#8217;s management. For example, a first experience with a new publisher can be seen as a risk that the company chooses to take on or not.<\/li>\n\t<li><strong>Conditional response<\/strong> : A contingency plan can be developed to respond to an identified risk, with activation only if the risk materializes. This plan is documented in the project action plan.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f0f3f6&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<div>\n<h2>Zoom: the provision for risks<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/card.png\" width=\"259\" height=\"259\" alt=\"\" class=\"wp-image-987517182 aligncenter size-full\"><\/p>\n<\/div>\n<p>The <strong>operational risk contingency<\/strong> is a <strong>budgetary reserve<\/strong> to cover the costs associated with the implementation of a risk reduction strategy.<\/p>\n<p>It is crucial if the risks identified in a project are realized.<\/p>\n<p>In concrete terms, it represents a percentage of the <strong>total project load<\/strong>, based on the average daily rate of the project.<\/p>\n<p>This percentage depends on the level of risk estimated in the <strong>pre-sales phase<\/strong> and validated in Deal Review, covering the identified risks and a proportion of random risks.<\/p>\n<p>The recommended percentage <strong>ranges from 5% to 15%,<\/strong> depending on the risk level of the project.<\/p>\n<p>Contingency is financially isolated and <strong>is only used when the criticality of a risk increases or when the risk<\/strong> materializes.<\/p>\n<p>If it is not used,<strong> it is reintegrated into the turnover at the<\/strong> end of the project, to improve the margin.<\/p>\n<blockquote>\n<p>The provision for risks is strictly confidential vis-\u00e0-vis the client.<\/p>\n<\/blockquote>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;blue-list&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2 id=\"4.-le-monitoring-et-le-reporting-des-risques\"><span class=\"fontSizeLarge\"><span class=\"fontColorThemeSecondary\">Risk monitoring and reporting<\/span><\/span><span class=\"c_b_1310c973\"><\/span><\/h2>\n<p>The project manager continuously monitors the risks, in collaboration with<strong> the stakeholders<\/strong>, to ensure that they are controlled.<\/p>\n<p>Existing risks are regularly updated in <strong>the risk register<\/strong>, during recurring governance meetings or at key project milestones.<\/p>\n<p>Action plans are adjusted according to the severity of the risks.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/monitor.png\" width=\"248\" height=\"248\" alt=\"\" class=\"wp-image-987517178 aligncenter size-full\"><\/p>\n<p>The consumption of the risk provision is also assessed at these times, with the prior approval of management if it has been committed.<\/p>\n<p>Any new risk identified is recorded in the register as soon as it is identified, under the responsibility of the project manager.<\/p>\n<p>Reporting is carried out during <strong>internal project committees<\/strong>, with a complete list of identified risks.<\/p>\n<p>It is also carried out with the client during the steering committees, mentioning only the risks that are relevant to the client and avoiding those relating to the internal functioning of the company or that could be perceived as interference with the client.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/risk-phases-en.png\" width=\"414\" height=\"541\" alt=\"\" class=\"wp-image-987517160 aligncenter size-full\" style=\"float: left;\"><\/p>\n<p>&nbsp;<\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; background_color=&#8221;#f0f3f6&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<h2 id=\"zoom-les-opportunit\u00e9s\"><span class=\"fontSizeLarge\"><span class=\"fontColorThemeSecondary\">Zoom: Opportunities<\/span><\/span><\/h2>\n<p>The <strong>SWOT<\/strong> matrix, which <strong>analyzes Strengths, Weaknesses<\/strong>, <strong>Opportunities<\/strong>, and <strong>Threats<\/strong>, is divided into two external areas: threats and opportunities.<strong><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pmchampions.com\/wp-content\/uploads\/2024\/02\/swot-analysis.png\" width=\"243\" height=\"243\" alt=\"\" class=\"wp-image-987517187 aligncenter size-full\"><\/p>\n<p>In this analysis, threats are equivalent to risks, representing events or situations that can negatively impact the project.<\/p>\n<p>Opportunities, on the other hand, are unforeseen items, such as events, initiatives, or ideas, that could have a positive impact on the project.<\/p>\n<p>Thus, effective project management requires equal attention to risks and opportunities. Every opportunity identified must be recorded and qualified, integrated into the risk monitoring register.<\/p>\n<p>An in-depth analysis of each opportunity can be carried out to objectively assess its relevance, and if necessary, it can be the subject of a specific action plan for its operational implementation.<span class=\"fontSizeLarge\"><\/span><\/p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"<p>Risk management involves identifying, assessing, addressing, and monitoring risks throughout the project.<\/p>\n","protected":false},"author":1,"featured_media":987517202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[70],"tags":[24],"class_list":["post-987517213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-project-integration","tag-en"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/posts\/987517213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/comments?post=987517213"}],"version-history":[{"count":0,"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/posts\/987517213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/media\/987517202"}],"wp:attachment":[{"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/media?parent=987517213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/categories?post=987517213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pmchampions.com\/en\/wp-json\/wp\/v2\/tags?post=987517213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}