Risk Management - 5 Tips to Do it Right

The video focuses on five essential tips for effective risk management in project management. It introduces the Spectres framework for identifying potential risks, emphasizes maintaining a risk list for future projects, and discusses evaluating risks based on likelihood and impact. The video also covers risk response strategies, including Terminate, Treat, Transfer, and Tolerate, and advises on simplifying the estimation of risk likelihood. The content is inspired by a Kindle exclusive eBook, which provides further insights into risk management.

What does the acronym SPECTRES stand for in the context of risk management?

What are some examples of social risks that can arise in project management?

How can political risks impact a project?

What types of economic risks should project managers be aware of?

What are commercial risks and how do they affect project management?

What is the significance of technology risks in project management?

What regulatory risks should project managers consider?

How can environmental risks impact a project?

What are the four main strategies for handling risk as mentioned in the video?

Why is it important to keep risk likelihood estimates simple?