People working on projects and running project-based organisations manage risks as part of their everyday working lives. But very few of us are trained risk management experts, and most tools out there don’t strike the right balance between technical excellence and useful accessibility. The result is that many of us do risk management on the fly, without a good system to record, monitor, act, and learn from our experiences.
Keepsite provides an alternative — a system that’s comprehensive, accessible and straightforward, and one that helps you feel you’re on top of things each and every day.
Risk management is the system for identifying risks, anticipating their probability and impact, and managing responses to ensure that opportunities are realised and threats are dealt with effectively. If risks eventuate, they become issues, which need to be effectively managed as well.
Effective risk management is essential for achieving predictable outcomes. But it’s a science informed by subjective factors as much as it is by logic and data, and actual humans and their incredible and often under-utilised experience and expertise must be at the heart of any good system for identifying and implementing a sound risk management approach. Keepsite approaches this aspect of risk management by implementing a system which facilitates and promotes collaboration within a sophisticated technology platform — a feature that can go a long way to helping project teams and their organisations to achieve better outcomes.
Risks and issues also provide lessons future project teams can benefit from when planning their own projects. Keepsite streamlines this process by providing a centralised database in which risks and responses can be tracked, which allows project teams’ knowledge and experience to be captured over time. The collected growing database of risk and issue information provides a valuable source of data that project organisations can analyse to better understand causes of risk and issues, uncertainty, and variance throughout the project lifecycle. This then helps them to plan and execute projects more predictably, confidently and profitably.
Risk management can be difficult because it relies on individuals’ perceptions of risks at the identification stage — perceptions which are constrained by our own experience, knowledge, and biases, making accurate risk assessment hard. It is further complicated because, in our industry, we do not have a comprehensive and reliable understanding of what risks are systemic (risks that routinely occur and can be planned for) and which risks are more random (risks that are not systematically occurring). Overcoming these limitations is best done by ensuring risk management is collaborative , undertaken using a common system that is straightforward and accessible to everyone involved, and by ensuring that, over time, risk management information is analysed from project to project, so that lessons are learned, absorbed, and systematically brought to bear when new projects are being planned.