24 Questions
What are the strategic options for PRMS implementation?
No implementation, partial implementation, full implementation
What are the factors influencing strategic thinking about system separation?
Organisational structure, organisational capacity, compliance requirements, operational processes
What is the potential implication of implementing PRMS across all projects straightaway?
Severely taxing the organisation's resilience
Why is the capacity to trial PRMS on different project phases of several projects unlikely to be feasible?
Unless the projects are short-term endeavors
What aspects are covered by formal risk-based management systems at the organizational level?
Occupational health and safety, environmental harm, quality assurance
What does partial PRMS implementation involve?
Introduction of a stand-alone system dealing only with projects
What is the default strategic position regarding PRMS implementation?
No implementation
What does full PRMS implementation seek to achieve?
Integration of organizational risk management and PRM
Why might an organization decide to rely on existing arrangements to embrace project risks?
In perhaps their more important compliance aspects
What might severely tax the organization's resilience?
A degree of change resulting from PRMS implementation
Why is it important to carefully consider the potential flow-on implications of PRMS implementation?
Due to the degree of change it may bring
What is unlikely to be feasible unless the projects are short-term endeavors?
The capacity to trial PRMS on different project phases of several projects
What is the primary focus of risk knowledge management strategies?
Managing 'how' the knowledge can be used
What is the key consideration for risk response and treatment options?
Practical feasibility
What should be avoided in risk knowledge capture strategies?
Copy and paste processes for reporting risk
What is the primary purpose of PRMS maintenance and development?
To ensure continuous improvement
What is the focus of risk response and treatment options?
Long-term sustainability
What is a key consideration for establishing RID tool preference strategies?
Tool adaptability from any primary alternative use
What is the primary focus of quantitative and qualitative risk analysis strategies?
Balancing high levels of probability and impact
What is the primary focus of participation in PRM workshops?
Confined to people directly involved in risk management
What should be avoided in strategic risk management to mitigate 'catastrophising'?
Confronting and encouraging self-recognition of its presence
What is a key consideration for project contextualization?
Strategic fit of the project for the stakeholder organization
What is a key consideration for quantitative risk analysis strategies?
Balancing high levels of probability and impact
What is the focus of risk monitoring and control strategies during the project life cycle?
Who, what, and when questions
Test your knowledge on strategic issues for project risk management, including the integration of formal risk-based management systems and organizational level strategies. Explore how organizations embrace project risks within existing arrangements.
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