Overview
In this episode of Project Management Paradise we discuss Risk Management with Carl Pritchard, the founder of Pritchard Management Associates.
Carl is a recognized lecturer, author, researcher, and instructor. He is considered a leading authority on risk and communication management and he presents on a variety of management topics ranging from project essentials to the complexities of network diagramming and team motivation.
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Episode Highlights
Accidental Entry into Project Management
Carl found his way into project management accidentally while working in radio, undertaking moonlighting work that led to consulting opportunities in project management.
Key Principles:
He emphasizes the importance of setting clear rules, knowing tolerances, and promoting open communication as fundamental principles in effective risk management.
Defining Acceptable Risks:
The speaker highlights the need for organizations to clearly define which risks they are willing to accept and avoid, citing an example of a company that prioritized protecting its public image.
Communication:
An open line of communication is identified as a crucial element in risk management, allowing for the transparent sharing of information about potential risks.
Dealing with Unwilling Senior Management:
In situations where senior management may be unwilling to accept certain risks, Carl advises documenting and capturing the risk plan while seeking alternative ways to mitigate risks under the guise of addressing other issues.
Long-term Consistency and Cultural Integration:
Carl suggests that organizations need to integrate risk strategies into their day-to-day practices, drawing parallels with quality management and citing the example of rumble strips as a successful risk mitigation strategy.
Show Notes
Connect with Carl on LinkedIn here.
Visit his website here.
Want to learn more? Visit www.corasystems.com.
