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Risk management enhancement
There is scope for risk management scenario and the following are some of the methods suggested:
Bringing increased awareness of risks: Improving the awareness of risk and risk management, having a well-documented system, communicating the risk management plan and a continual review would bring all round development
Reporting: Risk Reporting should be more robust to enable stakeholders to have a good view
Specialised departments: Creating specialised departments ensures better monitoring, control and formalisation
Senior management involvement: Greater care of senior management through frequent reviews would enhance management of risks.
Risk alignment: Risk processes must be integrated with not only business functions but also with strategic planning
Project risk profile owners Project risk profile owners must make sure that they deal with each and every risk of the project. The responsibilities of the project risk owners
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