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Fundamentals of Risk Management

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Posted 17 February 2005 - 07:45 PM

Fundamentals of Risk Management
By Jeff Crump

'There is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than the creation of a new system.' - Machiavelli

Clearly the great Italian philosopher and political strategist was not talking about your latest offshore development project but his wisdom is clear - change begets risk and the risk needs to be managed.

Over the centuries companies have taken great strides to minimize their risk exposure during whatever business change they are about to experience. Managing risk is vital for projects both large and small. And knowing how to effectively manage risk is big business. All of the major consulting companies have entire practices dedicated to risk management.

This paper will help you understand what risk is, its levels, the types of risk, a framework for effective risk management, the responses to risk, and the risk of inaction.

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Fundamentals of Risk Management


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