Capturing Upside Risk

Chapter 4

Setting the Scene for Opportunity Management

This chapter describes the first step in the risk management process. All projects are unique, with different levels of risk exposure, so we need to tailor the risk process to match the risk challenge faced by this project. That’s why we include an initiation stage at the start of the risk process, deciding how to manage risk on this particular project.

If we’re serious about identifying and managing both opportunities and threats in our project, we need to make our intentions clear right from the start. The tailoring decisions we make about how to manage risk on this project will include the fact that we expect to find and capture project opportunities and use them to improve our chances ...