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Good Risk Management Makes Handling Projects
Less “Risky”
Risk Management Project risk management is essential for project success and has far-reaching effects. It impacts the project, as well as organizations and the next generation of project managers. Surya Vangara, CISA, CISM, CQA, CAIIB, PMI-RMP, a program manager and head of a project management office in Port of Spain, Trinidad, notes that addressing risks with appropriate processes allows project managers to proactively deliver projects on schedule and within budget, and to manage key stakeholder expectations. Mr. Vangara, who has practiced project management for 17 years, believes that risk management has advantages for both organizations and future practitioners. “Organizations benefit because they have a high predictability of project delivery,” he says. “[Further], in dealing with risks, we train our project teams to think analytically about issues that haven’t occurred yet, and thus, build a pool of future project risk managers or project managers.” Lambert Ofoegbu, MBA, MNITP, RTP, PMI-RMP, a CEO and principal consultant based in Lagos, Nigeria, has practiced project management for 19 years and thinks the benefits of risk management are obvious. When you practice risk management, he says, risks are identified early in the project and communicated consistently. Also, responses are appropriately planned and implemented. “Risk management activities are undertaken to reduce the likelihood of project failure,” says Barbara James, PMI-RMP, PMP, a quality and risk management lead in Westport, Connecticut, USA. Carlos Acuña, PMI-RMP, PMI-SP, PMP, a project manager in Lima, Peru, echoes that sentiment. “Risk management is key for managing my custom projects such as credit risk, operative risk and market risk projects. I encourage further learning in this area of knowledge,” Mr. Acuña says. Learn More about Project Risk Management and Become Certified Are you looking for a way to learn more about risk management—and to demonstrate your expertise in this important field to your organization? The PMI-RMP® credential highlights your knowledge and validates your expertise in this important and specialized area of project management. Since its launch one year ago, more than 100 practitioners have become certified with the PMI-RMP credential. Some say that preparing for the credential helped them learn more about risk management. Others say it perfectly complements their job responsibilities and professional development. Credential Supports Organization’s Efforts and Improves Job Performance “I pursued the credential to support my work in the organization and to reflect the importance and emphasis we place on risk management activities,” says Barbara James, who has practiced project management for more than 10 years. Murtaza Hassanali, PMI-RMP, PMP, an IT project manager in Parklea, Australia also says that the risk management credential complimented his roles at various organizations where he dealt with human safety and IT security. Having been a project manager for 16 years, he has spent more than 10 years concentrating on structured risk management. “I have been risk conscious by nature and throughout my career progression through my roles,” Mr. Hassanali says. “The knowledge and expertise helps me identify and manage risk more appropriately. Improvements in risk management ensure project deliverables are better planned and met.” PMI-RMP Information Eligibility Requirements: High School diploma/global equivalent with at least 4,500 hours of professional project risk management experience and 40 hours of formal project risk management education. OR Bachelor’s degree/global equivalent with at least 3,000 hours of professional project risk management experience and 30 hours of formal project risk management education. Exam Information: Fees: Maintenance: More Information: |
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With
increased pressure on project budgets and schedules, project managers
must be even more efficient and precise at identifying and mitigating
risks. As project risk management becomes an increasingly important part
of organizational strategies, many project practitioners are turning to the
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