A five slides presentation from the Team at Portfolio Software

Manage Risks

Manage Risks

1. Don’t memorise your risks, write them down and know where they are

2. Make your risks visible to others, don’t hide them away

3. A risk is something that could happen that, if it did would have an impact on you. An issue is something that has happened (don’t mix the two)

4. Ensure your highest priority risks are most visible.

5. Each risk should have an owner, a priority and some form of mitigation at a minimum

Document your risks

Manage Risks

1. Don’t just record and forget, risks change and you need to be ready for it

2. Put somebody in charge of each risk. Don’t put one person in charge of all risks, get ownership and responsibility

3. Never assume a risk has not changed since it was written

4. Your low impact risk could be somebody else’s show-stopper so monitor everybody’s risks not just your own

5. Schedule risk reviews, 10 minutes a week is not much to ask

Monitor your risks regularly

Manage Risks

1. Risk likelihood is the definition of the likelihood of the risk actually becoming a reality

2. Risk impact is the definition of the impact on you if the risk becomes a reality

3. A high Impact but very low likelihood needs a different priority to a very low impact but very high likelihood. One will hurt, the other will devastate

4. Decide how much insurance you are willing to pay for something that may or not happen

5. Priorities change, so keep checking

Prioritise your risks

Manage Risks

1. Mitigation are possible solutions to the ‘what-if’s’ the risk is the ‘what-if’

2. Be realistic but be thorough, planning now will save you time when you most need it

3. It’s ok not to mitigate but be clear that it is a conscious decision not to do it rather than an area waiting to be completed

4. Don’t copy/paste from previous projects, paste yes, but review and update.... Things really do change

5. Outside influences affect your mitigation, thing both inside and outside your organisation, risks are not just internal, neither are solutions.

Mitigate where possible

Manage Risks

1. Risks change, get into the habit of adding new ones as they are identified

2. Don’t duplicate, embellish existing risks and re-assess. Clear list of 50 is much easier to manage than a fluffy list of 500

3. The responsibility for identifying risks lies with everybody, not one person. Give access to those who can contribute

4. Publish changes to your risk register, a new risk may impact others too

5. Don’t consider a risk register a chore, it is part of management and is an instrument for protecting you, your company and your assets. Protect it and use it wisely.

Keep adding new risks

Portfolio Software was formed in 2002

We deliver great software solutions - you won't get what you expect from Portfolio Software. You'll get more.

We take a different approach to software development, blending the strengths of best practices and methodologies - not just limiting our options to one. Our long-range vision focuses on your immediate needs first, developing a solution and a roadmap for future expansion.

We work successfully with distributed teams - we recognise that the world is flat

We are well versed with delivering solutions with teams distributed across 5 continents. We recognise the need, mitigate the risks and embrace the complexity.

We use industry standard processes - successful Delivery of Your Solution is our Prime Directive

Whether Agile or Waterfall, we pick the best method and process for the delivery of your solution. We manage the full lifecycle and have an open and transparent working policy which means we keep you with us every step of the way.

Contact us:

Tel: +44(0)845 644 7855

Email: info@portfoliosoftware.co.uk