Consider all of the professional and/or academic projects you have worked on in the past. In any of those projects, were there any problems that could have been avoided or perhaps an opportunity that was missed? Either way, the end results of the project were affected in a negative manner. Had there been more effective risk management employed, the impact of the negative issue could have been minimised, while the opportunity's benefit maximised. In both scenarios, the end result of the project would have been affected more positively.
Unfortunately, failure to adequately implement risk management into a project is not uncommon. This is not always for a lack of trying, as there are several risk management mistakes that are commonly made on projects. For example, sometimes the risk management process is done too late; disallowing sufficient time to resolve or circumvent risks.
Should risk management be effectively implemented, however, the end results of the project will be improved. With these thoughts in mind, reflect on any current, or past, project teams with which you have worked. Did your team attempt to implement risk management? For this Discussion, analyse the results of that implementation, or lack thereof should that be the case.
To complete this Discussion:
Post: Create an initial post in which you summarise a current or past project team with which you have worked. In your post, explain whether or not your team attempted to implement risk management.
If yes, explain whether or not the team was successful in implementing risk management and why. Analyse how the project was affected by this successful risk management implementation. If your team was not successful in risk management implementation (or did not implement it at all), explain why and analyse how the consequences impacted your project.