Risk Mitigation / Management:
A Brief Tutorial
by Bill Campbell, III
In identifying and assessing risks – technical, cost, and schedule – in developing risk mitigation strategies, and in creating risk management plans, many firms exhibit what appear to be some systemic difficulties that prevent them from being fully effective in these areas. This tutorial contains a general discussion of risk, risk mitigation, contingency planning, risk management, and difficulties in implementing risk management. Managers are encouraged to look at their programs carefully with a view toward avoiding or correcting any of the difficulties highlighted here should they observe them. |