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Risk Management in IT Projects?
If you’ve spent time in IT delivery—whether implementing enterprise systems, integrating platforms, deploying cloud infrastructure, migrating data, or buildi…
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ProjectBalm blog
Practical perspectives on managing risk.
Insights, trends, and expert perspectives to help teams make risk information clearer, more consistent, and more useful.
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From the ProjectBalm team
36 practical guides and perspectives.
Article
Using Risk Metalanguage
Managing risks effectively is essential for successful project outcomes. However, the terminology used when discussing risks can often be misleading. Project…
2 minute read
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Article
Risk Response Strategies: A Practical Guide
Identifying and assessing a risk is not enough. Once a risk has been understood and prioritised, the organisation must decide what it will do about it. A ris…
12 minute read
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Article
Upside Risk: How to Identify and Manage Positive Risks
Risk management is often treated as a defensive discipline: identify what might go wrong, assess the consequences, and take action to prevent or reduce harm.…
12 minute read
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Article
Forty Common Project Risks
Common project risks become easier to identify and manage when teams start with practical examples. This guide groups 40 project risk examples by category, t…
8 minute read
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Article
Implementing ISO 31000 with Risk Register
ISO 31000:2018 is a globally-recognized standard that provides guidelines for effective risk management. Developed by the International Organization for Stan…
19 minute read
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Article
Risk Analysis: A Practical Guide
Risk identification tells you what might affect your objectives. Risk analysis helps you understand how much each identified risk matters. A practical analys…
19 minute read
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Article
How to Monitor Risks
There are four key steps in the standard risk management process: identification, assessment, treatment, and monitoring. This article explains risk monitorin…
4 minute read
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Article
Risk Identification: A Practical Guide
Risk identification is the process of recognising and describing uncertainties that could affect objectives. It is the first practical step in risk managemen…
16 minute read
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Article
Understanding Resource Risks
Research shows that a substantial portion of project problems stem from resource risks, so understanding this area is pivotal for success. These risks can be…
3 minute read
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Understanding Schedule Risks
For many organizations, hitting a deadline is the critical metric for project success. Delivering new capability according to schedule builds trust with clie…
2 minute read
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Article
Understanding Scope Risks
In project management, "scope" is a critical yet often misconstrued concept, with some practitioners preferring a broad definition and others a narrow one. T…
3 minute read
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Article
The Crucial Role of Legal Counsel
Organizations worldwide have encountered various emerging challenges in recent years, fundamentally altering the traditional approach to business operations.…
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Article
Risk Management and Business Instinct
Risk management professionals continually seek new methods and processes to improve their outcomes. They typically have a preference for empirical tools, whi…
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Article
Four Strategies to Secure Buy-In
In the world of project management, structured risk management is no longer an optional extra; it's a must-have. But project managers can't do it all alone.…
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Article
What Does Risk Management Cost?
Managing Most modern businesses recognise that risk management is essential, but fewer are willing to acknowledge it is inherently costly. There is a common…
8 minute read
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Article
Conducting a Risk Retrospective
Reviewing past events, or performing risk retrospectives, is a critical element of effective risk management, generating valuable lessons and guiding organiz…
5 minute read
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Article
Understanding Risk Tolerance
Psychology plays a critical role when it comes to managing project or organizational risk. One key concept is risk tolerance, which is an individual's or org…
2 minute read
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Article
The Hidden Role of Risk Perception
Effective risk management is the heartbeat of every thriving business, steering it toward stability and success. Central to this process is risk assessment,…
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Article
Why All Projects Carry Risk
Risk is everywhere - in our domestic lives, our social situations, and particularly in our business activities. Some vendors guarantee "risk-free" projects,…
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Article
Decluttering your Risk Register
It's common to hear grumbles about overly detailed Risk Registers. These documents, designed to log potential project threats, often become cluttered with ev…
2 minute read
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Article
The Power of Futures Thinking
Organizational risk management has often focused on identifying and mitigating immediate threats. This is hardly surprising! However, as the business environ…
4 minute read
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Article
Breaking Barriers in Risk Communication
Risk management is all about staying ahead of the game, and effective communication is the secret sauce enabling this. To build a thriving risk culture and a…
2 minute read
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Article
Risk Categorization is Crucial
Risk management is a cornerstone of effective business operations, particularly within the context of project execution and enterprise-level decision-making.…
3 minute read
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Article
Is it Really a Risk?
Risk identification is the first step in the risk management process, and it is here that organizations often run into trouble. It is vital that you learn to…
2 minute read
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Article
What is your Risk Maturity Level?
In the 1980s, a new type of framework called a "maturity model" emerged in industry. The proponents of these models intended to help organizations assess the…
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Article
Risk Descriptions that Work
The number of risks in a project or organization can range from a mere handful to a staggering multitude, each with its own unique level of detail. While a h…
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Article
What does a Risk Manager do?
A growing number of organisations are hiring risk managers to oversee the corporate response to risk. A risk manager is ultimately responsible for controllin…
1 minute read
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Article
Three Reasons to Dump your Risk Spreadsheet
Spreadsheets have been an integral part of the computing landscape for over forty years. Although first devised to replace paper-based accounting worksheets,…
2 minute read
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Article
Five Signs your Project is at Risk
For nearly thirty years, a research company called The Standish Group has been preparing an annual paper called The Chaos Report, which surveys thousands of…
3 minute read
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Article
Five Tips to Improve your Risk Management
Risk management is more important than ever, but many project managers struggle to implement it effectively. Here are five simple tips to help you get better…
3 minute read
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Article
Understanding ISO 31000
ISO 31000 is an international standard that provides guidelines and principles for creating a risk management framework and process. It offers a systematic a…
4 minute read
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Article
What is Risk Management?
Risk management is now considered a staple process in many organizations and has become an increasingly important component of regulatory compliance (referen…
4 minute read
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Article
Four Steps of the Risk Management Process
Dealing with project risk requires you to adopt a risk management process. There are various formal processes defined these days, for example in the Project…
2 minute read
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Article
How to Implement Risk Management Software
Risk management software can help your company enhance its project delivery. With many companies still using Excel spreadsheets to monitor projects, deployin…
3 minute read
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Article
Elements of a Risk Management Plan
Risk management is generally accepted as a fundamental part of project management. Most project governance standards require you to define a risk management…
4 minute read
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