Comments on: Strategic Risk Management http://www.alexsbrown.com/strategic-risk-management.html The online home of Alex Brown, project management expert Sun, 05 Feb 2012 21:17:02 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Alex Brown http://www.alexsbrown.com/strategic-risk-management.html/comment-page-1#comment-4874 Alex Brown Tue, 14 Oct 2008 14:09:02 +0000 http://www.alexsbrown.com/?p=109#comment-4874 Thanks for the extra citation, Jerry. I know risk management mostly through the insurance industry, but there are national and international standards available as well. COSO (Committee of Sponsoring Organizations - <a href="http://www.coso.org/" rel="nofollow">www.coso.org</a>) has also produced great materials about enterprise risk management. COSO deals with these issues from an accounting and audit perspective. All of these documents reach well beyond the area of project management, yet they would be familiar to anyone who has studied project risk management. The fundamental practices are so similar. I had forgotten about our conversations about project management as a form of risk management. If anyone is interested in exploring that idea, I heartily recommend contacting Jerry Ball directly. It is a profound idea. One of the primary goals of all project management, and perhaps management itself, is to reduce risk. When people talk about "consistent schedules", "control of scope", or "predictable budgets" as a key benefit of project management, they are really talking about reducing risk. Thanks so much Jerry. Best wishes to you, too. Thanks for the extra citation, Jerry. I know risk management mostly through the insurance industry, but there are national and international standards available as well. COSO (Committee of Sponsoring Organizations – http://www.coso.org) has also produced great materials about enterprise risk management. COSO deals with these issues from an accounting and audit perspective. All of these documents reach well beyond the area of project management, yet they would be familiar to anyone who has studied project risk management. The fundamental practices are so similar.

I had forgotten about our conversations about project management as a form of risk management. If anyone is interested in exploring that idea, I heartily recommend contacting Jerry Ball directly. It is a profound idea. One of the primary goals of all project management, and perhaps management itself, is to reduce risk. When people talk about “consistent schedules”, “control of scope”, or “predictable budgets” as a key benefit of project management, they are really talking about reducing risk.

Thanks so much Jerry. Best wishes to you, too.

]]> By: Jerry Ball http://www.alexsbrown.com/strategic-risk-management.html/comment-page-1#comment-4866 Jerry Ball Tue, 14 Oct 2008 06:50:31 +0000 http://www.alexsbrown.com/?p=109#comment-4866 Hi Alex Good article, and as ever you make some very good points. You might perhaps also refer to the well-established AS/NZS 4360 standard, which forms the basis of the forthcoming ISO 31000 and related publications. I have a slightly different perspective on this too. It's my contention that more importantly than classifying risk management as one of the knowledge areas that make up the practice of project management, project management is simply one possible response to managing organisational risk. Best wishes - Jerry Hi Alex

Good article, and as ever you make some very good points.

You might perhaps also refer to the well-established AS/NZS 4360 standard, which forms the basis of the forthcoming ISO 31000 and related publications.

I have a slightly different perspective on this too. It’s my contention that more importantly than classifying risk management as one of the knowledge areas that make up the practice of project management, project management is simply one possible response to managing organisational risk.

Best wishes – Jerry

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