In the past, the term “Risk Appetite” was only used by academics. Since the financial and sovereign debt crisis of 2008-2011, however, we have been confronted with this term on a number of occasions. But what is the difference between “Risk Appetite” and “Risk Attitude”? There is often confusion about this and they are often […]
Projects rarely execute as planned. You will encounter impediments, risks materialize, or your assumptions don’t play out as planned. Therefore, when planning your project, you may use time or financial buffers in your schedule to compensate for potential time or cost overruns. Buffers or reserves in projects are important, but they are very often misused […]
The Known, the Known Unknowns and the Unknown Unknowns. What does this wordplay have to do with risk management and why is it important to understand it? In this article you will learn an elementary basis of risk management, which will make risk management in your project even more successful. What Are the Known Unknowns? […]
I recently read a report on internal and external project risks. The author wrote that the project team has no control over the external risks. Is that really true? An interesting aspect, where it is worth taking a closer look. In this article you will read what internal and external risks are and how you […]
One of the most important points in risk management is that you find the “right” risks and describe them clearly. Finding and describing risks is not that easy. But if you pay attention to some important points, your efforts will soon bear fruit. This article will help you to find the right risks and describe […]