Risk Management & Resilience – Identifying and Monitoring Low Probability/High Impact Risks – Hine
As P/PMs we have been taught to identify and track High Probability/High Impact risks, which is absolutely the correct thing to do. However, many of us have been excluding similarly impactful risks from regular review simply due to an estimated low probability of occurrence. What if the probability estimate is incorrect? What if, as improbable as it was, the impact of such a risk becomes a reality? What is your get-well plan? Look for another job?
In this session we will discuss the importance and practical application of monitoring all risks, not just those considered High Probability and High Impact.
PMI Talent Triangle: Technical Project Management (Ways of Working)