Checklist of Risk Management Essentials

If you are a project manager, then you should know that there are a ton of different risks present in just about every product that you work on. Your job is to know what these risks are, measure the amount of harm they bring, and develop plans to deal with them. While creating a risk management plan, you should also learn to create a risk management checklist. With it, you will be able to list down all of the different risks of your project so you can find countermeasures to prevent or mitigate them. You may also see checklist templates.

Checklist of Risk Management Essentials Template

qg-767x536-4

So, here are the things that you should include in your risk management plan checklist:

Scope of work

The first part of your process checklist should feature the following questions:

  • Is there a risk in a certain area of the current project that has been seen in the previous projects that you have completed?
  • If there is a new task within the project, what kind of risks do you think it is going to contain?
  • Has all the work in the project estimate been done before or it something that you have yet to do?

Resources for your project

This should be the second part of your risk management word checklist. If you think that there are going to be resource problems in the project that you are working on, then here are some questions that you need the answer to:

  • Do you have the right amount of resources?
  • Do you have the right kind of resources for your project?
  • If your resource comes in the form of employees, do they have the necessary experience or do you require them to do a bit of employee training first?
  • Do they work well together?

Project timeline

This should be the next part of your general checklist as you should know if there are any scheduling conflicts in the project and you have to find out if these schedules are flexible. You have to see if you and your team have enough time to complete all the tasks that are related to the project. If you see that there is anything that may cause conflict with the basic schedule or anything that could disrupt it, then list them all down under this category.

Project cost

This is the part of the checklist that deals with the costs of the project and the project overrun costs. Go through the budget sheet that contains all the information regarding the expenses of the project you and your team are taking in. If you feel as if the project may go over the budget, or you feel that there is an item that could be a potential risk to the simple budget, put it down on the list.

Outside sources

You have to consider all of the outside sources that can be potential general risks to the project. An example of an outside source that could be a possible risk is the supplier that will hand you the materials you need to continue with project standard operations. So, if you feel that the outside source is not able to deliver what you need or if there are other factors that you think could harm the progress of the project, then just put it in the risk management basic checklist.

Deliverables

Will you be able to achieve the goals of the business project? Will you actually be able to complete the project in its entirety? If you think that there are risks that could prevent you from doing any of the two, then you should put them on the list. You may just need to change certain processes in order to get everything back on track, so do what you can.

If you would like to learn more about risk management, such as how you can do a risk assessment, then be sure to read our other business articles.

You may also like

Read More Articles about

Business