Risk is the likelihood that things will go wrong. Wherever and whenever there is more than one potential outcome, a less desirable outcome is possible. To manage risk effectively requires the anticipation of outcomes, including less desirable outcomes, and a plan and budget to manage those events. Simply compiling a list of risks of potential issues and / or problems, without embedding strategies to deal with them into plans, is not effective risk management.
Anticipating every potential issue at the start of a programme may be impractical, however, it is possible to continuously anticipate problems as a programme progresses and to continually update and amend plans to deal with issues as and when they occur, and keep the plan on track, time, cost and quality.
To quote the ‘Scrum Alliance’:
“There is no definite consensus on the need for risk management within the Agile method. This has led many to believe that risk management is irrelevant in an iterative model. Some follow the approach of ignoring risks until they manifest into issues; they then manage them through the natural sprint progression.”
And that’s why ignoring risk is the biggest risk of all!
Feel free to retain a copy for your records.
John L. Evans / FCMI, FIC, FBCS CITP, MCIPS
+44 7957 190 186