{"id":991,"date":"2022-07-27T13:03:48","date_gmt":"2022-07-27T20:03:48","guid":{"rendered":"https:\/\/www.wanhow.com\/projectmanagercoach\/?p=991"},"modified":"2022-12-29T13:07:44","modified_gmt":"2022-12-29T20:07:44","slug":"dust-off-your-risk-management-plan-and-create-engagement-with-this-tip","status":"publish","type":"post","link":"https:\/\/www.wanhow.com\/projectmanagercoach\/dust-off-your-risk-management-plan-and-create-engagement-with-this-tip\/","title":{"rendered":"Dust off your risk management plan and create engagement with this tip"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

If you have a long list of identified risks, it can be a dreary task to update your risk management plan or RAID log. Stakeholders\u2019 eyes glaze over. Here\u2019s what you can do to create engagement:<\/p>\n\n\n\n

1. Only highlight risks with high probability, impact, and rating.
2. Then add a column for an estimated dollar value associated with that risk, either negative or positive.*
3. If a dollar value is not feasible, quantify the risk to project benefits e.g. carbon reduction.<\/p>\n\n\n\n

Whenever you estimate a number, create a methodology and stick to it. Yes, I know, this is easier said that done. But you don\u2019t have to do it on your own. You have a project team. Reach out to your business, finance, or data analyst for help if needed.<\/p>\n\n\n\n

* Hat tip to\u00a0Natalia Bercht, PMP<\/a>, subject matter expert in project cost and finance management, for the idea that inspired this post.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you have a long list of identified risks, it can be a dreary task to update your risk management plan or RAID log. Stakeholders\u2019 eyes glaze over. Here\u2019s what you can do to create engagement: 1. Only highlight risks with high probability, impact, and rating.2. Then add a column for an estimated dollar value … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[32],"yoast_head":"\nDust off your risk management plan and create engagement with this tip | Project Manager Coach<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wanhow.com\/projectmanagercoach\/dust-off-your-risk-management-plan-and-create-engagement-with-this-tip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dust off your risk management plan and create engagement with this tip\" \/>\n<meta property=\"og:description\" content=\"If you have a long list of identified risks, it can be a dreary task to update your risk management plan or RAID log. 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