Risk Management
Risk Management helps systematically identify and assess risks.
Classification
- ComplexityMedium
- Impact areaOrganizational
- Decision typeOrganizational
- Organizational maturityAdvanced
Technical context
Principles & goals
Use cases & scenarios
Compromises
- Lack of management support
- Insufficient communication within the team
- Excessive bureaucracy may slow down processes
- Early identification of risks.
- Involving all stakeholders in the process.
- Regular readiness checks.
I/O & resources
- Project Plans
- Team Feedback
- Market Research
- Risk Report
- Feedback on Risk Mitigation
- Recommendations for Strategy Adjustment
Description
Risk Management is a structured approach to identifying, assessing, and prioritizing risks. It includes measures for risk mitigation and strategic decisions to minimize potential negative impacts.
✔Benefits
- Reduces the likelihood of negative events occurring
- Improves decision-making
- Protects resources and investments
✖Limitations
- May require resources and time
- Possible resistance within the team
- Risks can change rapidly
Trade-offs
Metrics
- Number of Identified Risks
Measures the efficiency of the risk identification process.
- Assessment Accuracy
Measures the accuracy of risk assessment.
- Cost of Risk Mitigation
Calculates the costs for implemented risk mitigation measures.
Examples & implementations
Corporate Finance Project
A large finance project where risks were systematically identified and managed.
Technology Sector Product Launch
A product launch where risk assessment was crucial for success.
Manufacturing Auditing Process
The auditing process included several risk analyses to ensure compliance with standards.
Implementation steps
Training the team in the risk management process.
Implementing a standardized risk identification process.
Regular reviews and adjustments of strategies.
⚠️ Technical debt & bottlenecks
Technical debt
- Insufficient risk data analysis.
- Missing risk assessments during project progress.
- Overloading the risk management system.
Known bottlenecks
Misuse examples
- Ignoring minor risks.
- Overrating risks without a data basis.
- Lack of follow-up on identified risks.
Typical traps
- Not documenting individual risks.
- Not following risk management guidelines.
- Lack of engagement from team members.
Required skills
Architectural drivers
Constraints
- • Time Constraints
- • Budget Limits
- • Technological Requirements