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Opportunities and Threats

February 5, 2017

© Copyright March 2013, David Hillson/Risk Doctor & Partners

International risk standards and guidelines such as ISO31000:2009 define risk as a double-sided concept. This includes the possibility of both upside and downside risks, with either positive or negative effects on the achievement of objectives. We use the word “opportunity” to describe an upside risk with positive impacts, and “threat” is used for downside risks wit…

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Be mindful when managing risk

January 25, 2017

© Copyright March 2014, David Hillson/The Risk Doctor Partnership

Mindfulness has its roots in Eastern religion, although it is also used therapeutically to treat a variety of psychological conditions (including anxiety, depression and stress), as well as in coaching to encourage excellence in healthy people. Used properly, mindfulness can also make our risk management more effective.

Being mindful means bringing your complete a…

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Who Dares Wins

December 26, 2016

© Copyright December 2016, Rose-Hélène Humeau/The Risk Doctor Partnership

“Who Dares Wins” is the motto of the British SAS (Special Air Service), and it has also been adopted by another eleven elite special forces units around the world. If we applied this slogan in our organisations and projects, it could change the way we manage risk in the following four ways:

1. Find more opportunities.

Typically, about 80% of the risks reco…

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Managing Risk in your SME

April 28, 2016

© April 2015, Dr David Hillson PMP FAPM FIRM FRSA

Many people think that risk management is only relevant to major organisations with big budgets who run mega-projects or who work in a regulated or safety-critical industry sector. Those of us who own or manage a small-to-medium-sized enterprise (SME) might be tempted to think that we don’t have time for risk management, or if we do have time then we will manage risk intuitivel…

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Top 10 Myths of Risk Management

April 21, 2016

 

© March 2015, Dr David Hillson PMP FAPM FIRM FRSA

Remember not to blur fact with fiction when you manage the threats and uncertainties associated with your project, advises.Since the dawn of time, mankind has used myths to make sense of the uncertainty that surrounds us. More recently, in the world of business and projects, risk management has performed the same role. Unfortunately, myths have also grown up around risk managem…

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Can a Risk have 100% Probability?

November 24, 2014

© Copyright April 2014, David Hillson/The Risk Doctor Partnership

One of the first things I learned about risk was that every risk has both a probability less than 100%, as well as an impact on at least one objective. Some of my risk colleagues talked about risks with 100% probability, but I disagreed with them. As I’ve discovered more about risk, I’ve realised that my colleagues were right! There are risks with 100% probabil…

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Risk Management 20 Years on

February 14, 2012

© Copyright October 2009, David Hillson/The Risk Doctor Partnership

The past is a foreign country; they do things differently there’ according to L. P. Hartley, ‘ (The Go-Between, 1953).

As Project Manager Today celebrates its twentieth anniversary of serving the project management community this month, it seems a good time to look back over how risk management has changed in the past two decades. Of course people have always…

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Risk Matters – It’s all about objectives

October 5, 2009

© Copyright October 2009, David Hillson/Risk Doctor Limited

The most simple definition of risk as “uncertainty that matters” provides two simple tests for whether something is really a risk or not. The first and most obvious characteristic of a true risk is that it is uncertain. If something is a fact, constraint, requirement, problem or issue, then it is not a risk. However not all uncertainties are risks, which brings us to…

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Coming Soon – Risk Management Blog

October 2, 2009

Over the coming months, IRIS will be providing access to the insights of Dr David Hilson, widely known as “The Risk Doctor” by publishing his regular column, “Risk Matters”.  This column covers a variety of topics on all things risk and we hope our readers will find it a worthy addition to their risk management research.

As a first taste, we publish below a copy from the archives, “It’s all about objectives”.

 

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