This document outlines Bryan Barrow's presentation on risk management mistakes. It discusses the top 10 mistakes companies make in risk management: not involving teams, ignoring people risks, lack of contingency planning, failing to identify and communicate specific risks, and not having a risk management plan. It emphasizes quantifying risks, creating backup plans, securing funding for risks, and regularly reviewing top risks. The goal is to help projects stay on track by properly planning for and mitigating risks.

1. Are You Making These Risk
Management Mistakes?
Bryan Barrow
CITP MAPM MBCS MPSA
©2019 Bryan Barrow

2. YOU’RE ALWAYS AT RISK

3. ONE SLIP MEANS DISASTER

4. XX
• xx
you must avoid mistakes

5. BRYAN BARROW: BIO
• Former Chair of the APM’s
specific interest group (SIG)
on Risk Management
• Author of ‘The Project
Management Workshop Handbook’,
‘Stakeholder Management’ and
‘Project Definition’
• Creator of the ‘Index Card
Planning’ technique

6. TODAY’S AGENDA
• Why manage risk?
• 10 risk management mistakes
most people make
• The truth about ‘Black Swans’
• How to spot bad apples
• Why you need a realistic Plan A
• How to create Plan B, your risk
management plan

7. time
cost
target max
target
max
THIS IS WHERE WE SHOULD BE

8. time
cost
target max
target
max
THIS IS SEEN AS ACCEPTABLE

9. time
cost
target max
target
max
WHAT WOULD YOU CALL THIS?

10. Ame
cost
INSTEAD OF TIME VS. COST
target max
target
max

11. Ame
risk
LOOK AT TIME VS. RISK
target max
100%

12. Ame
risk
LOOK AT TIME VERSUS RISK
target max
100%

13. BLACK SWANS

14. “The greatest IT risk facing
most companies is more
prosaic than a catastrophe.
It is, simply, overspending.”
Nicholas G. Carr,
Author and Commentator

15. “ THE AVERAGE
PROJECT
SCHEDULE OVERRUN
IS 70%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

16. “ THE AVERAGE
PROJECT
COST OVERRUN IS
27%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

17. “17%
OF PROJECTS HAD A
COST OVERRUN OF
200%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

18. TOP 10 MISTAKES
• People Mistakes
• Process Mistakes
• Publicity Mistakes

19. PEOPLE MISTAKES
1. Not Involving your Team
2. Ignoring People Risks
3. Assuming the Worst Can’t
Happen

20. PROCESS MISTAKES
4. Not identifying specific
risks
5. No contingency planning
6. Mistaking risks for issues
7. Not looking for new risks

21. PUBLICITY MISTAKES
8. Not publicising risks to
stakeholders
9. Excluding partners from
risk reviews

22. AND FINALLY . . .
10. Having no risk
management plans
whatsoever!

23. FAILURE IS INFECTIOUS

24. THROW AWAY BAD APPLES

25. IS THIS PROJECT WORTH IT?
Benefits
Costs

26. IS THIS PROJECT WORTH IT?
Benefits
Costs

27. IS THIS PROJECT WORTH IT?
Benefits Planned
costs
Costs to
manage risks
ConHngency
costs
Benefits

28. USE INDEX CARD PLANNING

29. IDENFITY RISKS BY DELIVERABLE

30. QUANTIFY USING REAL NUMBERS

31. CREATE BACKUP PLANS

32. COMMUNICATE RISKS

33. SECURE COMMITMENT

34. AGREE FUNDING FOR RISKS

35. FOCUS ON TOP 10 RISKS
80% of
problems
issues and
delays
20%
of risks

36. REVIEW RISKS WEEKLY
10 mins
Step 5
Other
Business
10 mins
Step 1
Review
Actions
20 mins
Step 2
Review
Progress
10 mins
Step 3
Review
top 10
risks
10 mins
Step 4
Review
top 10
issues

37. Ame
risk
WHAT HAPPENS TO RISK . . .
target max
100%

38. THIS IS THE RESULT
Benefits Planned
Actual
costs
Costs to
manage risks Benefits

39. FOR MORE INFORMATION
Books (available on Amazon):
Services:
• Index Card Planning Training
• Project Kickoff Workshop Facilitation
visit http://bryanbarrow.com/

40. HOW TO TO CONNECT WITH ME
Bryan Barrow
CITP MAPM MBCS MPSA
Tel:
+(44) 7954 435456
Email:
bryan@bryanbarrow.com
Web:
bryanbarrow.com
Skype:
bryanbarrow
Twitter:
@bryanbarrow

41. END CREDITS
LOLO JONES © The Guardian
BLACK SWAN Birdaspoetry via Photopin.com
DOMINOES Unknown
BAD APPLES Rore via Photopin.com
INDEX CARDS © Bryan Barrow
INDEX CARD PLANNING WORKSHOP © Bryan Barrow
CALCULATOR Fidler Jan via Morguefile.com
PLAN B Unknown
LOUD HAILER Unknown
TRAFFIC LIGHTS Unknown
PIGGY BANK Unknown
BRYAN BARROW SPEAKING © European Commission
“Are You Making These Risk Management Mistakes” ©2019 Bryan Barrow