Free Online Health Check for Prince2 projects. Project managers and quality assurance members can do an project audit and get the results mailled. Check the usage of the prince2 components, techniques, templates and process. Free to use.

Risk HealthCheck

A key aspect for the project is management of Risk. Management of Risk aims to identify risks that threaten the project and then manage them. It is not necessarily required to eliminate a risk (or all risks), that could be an disproportionate effort and could prove costly.

The project manager must be aware of the risks from the beginning of the project and not limited to one stage, but looking forward towards the end of the project. When decisions are taken they can have impact on the risks. So a risk assesment is a continous process.

Risk are introduced at any stage in the project, so good management of them is a necesity.

The Prince2 risk management cycle is divided in two steps:

Risk analysis
1. Identify the risks
2. Evaluate the risks
3. Identify suitable responses to the risk
4. Select
Risk management
1. Plan and resource
2. Monitor and report

Reference to the manual: "Managing Successful Project" from OGC, the 2005 edition:

Management of risk - Chapter 17
- Risk management cycle - Chapter 17.3
  - Risk analysis Chapter - Chapter 17.3.1
  - Risk Management - Chapter 17.3.2

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