Tag: risk assessment
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• 7 MIN READQualitative Risk Analysis for Beginner Level Project Managers
To deal with risks successfully, each project manager should develop and implement a risk management strategy, plan, and tools at the start of each project. Mostly, People are bad at assessing risk. They allow biases to influence their decisions or emotions to stymie decision-making processes. This is why project managers must understand how to analyze […]
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• 7 MIN READ
Inherent Vs Residual Risk: Differences and Examples Explained
In this post, we will look at what are the main differences between the Inherent risk and Residual risks. Both of them have their own implications, so let’s take look first at what is risk management. What is Risk Management? Risk management is one of the most essential processes that is carried out in companies […]
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• 7 MIN READ
How to Analyze Risk in Project Management?
Life is a series of unexpected events, however having a plan can save you from catastrophe. The rule is applicable to all lines of work including project management. Having a risk management plan is crucial for the successful initiatives of any business or project venture. Risk assessment has never been more vital than it is […]
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• 7 MIN READ
Contingency Planning in Project Management – What Is It and Why Is It Important?
What is a contingency plan? It is an actionable plan for when a risk materializes in the form of a problem hindering your progress. Contingency planning is an important part of project management, helping you make sure that things go as planned. Contingency planning is a part of risk management. Having a plan does not […]
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• 7 MIN READ
What you Absolutely Need to Know about Construction Risk Management in 2022
Risk management is a crucial element to keep track of when it comes to any sort of project. But when it comes to construction risk management, you need to be extra careful, because a software project going bad might not be as life-threatening as a construction project going bad. The need for a company to […]
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• 7 MIN READ
Why and How You Should be Creating Your Project’s Risk Management Plan?
Preparing for the unexpected is a part and parcel of all of our lives. It is the concept of uncertain events and occurrences that insurance is based on. Project management is no different. Being prepared for what might happen in a project ensures that you are well equipped to lead your team to a successful […]
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• 7 MIN READ
Top 7 Safety Management Applications to Use in 2022
Health and safety are some of the biggest concerns in any industry these days. It is so because there are a lot of different factors involved in administering proper health and safety procedures that aren’t accounted for, are subject to gross negligence or are never monitored on time. In the 21st century where companies are […]
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• 7 MIN READAll New Risk Matrix, Risk Custom Fields, and Much More
Greetings from nTask! What do months of incredible development, effective collaboration, and heroic development result in? To put it simply; we are excited to bring a revamped Risk register with a bunch of exciting new features dedicated to acing Risk mitigation like a pro. It’s an empowered approach to identifying & resolving project criticality that […]
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• 7 MIN READHow to Use the Risk Assessment Matrix in Project Management?
Murphy’s law honors the inevitable. And whether you are a patron or disciple of the law or not, you have to accept the value of contingency planning which guarantees the continuity of your business/project and ultimately lowers and minimizes the impact on your bottom line. When managing projects, one of the most important factors is […]
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• 7 MIN READ
Strategic Risk Management to Gain Success in the Organizational Paradigm
You may have heard of names like Kodak, Blockbuster, or MySpace. These three companies were the pioneers of their respective fields but they since disappeared. Why? Because these companies were slow or short-sighted to see the strategic risk iceberg that destroyed their business. Every company in the organizational paradigm takes risks. They have to do […]
