How risky is your project? (2022)

“How risky is your project? And what are you doing about it?” The answers to these two vital questions will not be found in your Risk Register or risk reports. The overall riskiness of your project is more than the sum of its individual threats and opportunities.
Most risk processes focus exclusively on individual risks and we fail to identify or proactively manage the overall risk exposure of our projects. In this webinar sponsored by Riskonnect (riskonnect.com/uk/), David Hillson presents practical solutions for identifying sources of overall project risk, quantifying it, and responding appropriately.

[@SivaKumar-pf3ze]

You are the guru of Risk. Been following you for 22 years. U make risk simple practical.

[@Risk-Doctor]

Hi Siva, thank you for your encuragement and support. I'm glad my work has been useful for you.

[@evdoxiapikouni545]

Hello Mr Hillson. Have you uploaded a video where i can find a connection of risk to real options not for financial but for investing purposes?

[@Risk-Doctor]

Thanks for your question. Sorry but this isn't an area of risk where I have any expertise. Financial risk management is a specialised discipline which is outside my competence.

[@RISKACADEMY]

This is a very outdated approach to project risk quantification, AACE and NASA have moved long ago beyond just MC on budget or schedule as it significantly underestimates overall project risk. Also this does nothing for the portfolio effect. We actually care more about how a project changes the overall portfolio risk, many risky projects hedge the overall portfolio

[@Risk-Doctor]

Hi Alex, thanks for sharing your view. This short presentation doesn't give the full details of how you might quantify overall project risk, it introduces the topic at a basic level. I agree that you can't just analyse schedule or budget in isolation. And I agree that you need to take a higher-level program or portfolio perspective. But it starts with recognising that risk management is not just about identifying and managing individual risks - and the aim of this presentation is to raise awareness of this question and challenge the way people think.

[@RISKACADEMY]

@@Risk-Doctor thank you David