Templates Help Identify, Minimize Project and Business Risks

John Storts
Slide Show

Embedding Sound Risk Management Practices into an Organization

Core principles for risk management adoption within an organization.

As contributor Kim Mays defines it in her Knowledge Network definition document, "risk management involves investigating, alleviating, and policing potential risks. To perform risk management, it is important to consider risks from all angles including disasters, attacks, failures, etc."


Those risks can come in many forms, including natural disasters, malicious hackers, equipment failures, and plain old lack of communication. How does an IT manager or other decision-maker consider all those angles in an organized fashion and keep stakeholders informed?


As a good conceptual starting point, Mays cites the U.S Environmental Protection Agency measures for effective risk assessment and management:

  1. Problem formulation
  2. Stakeholder involvement
  3. Quantitative risk assessment
  4. Communication
  5. Iteration and evaluation
  6. Informed decision making
  7. Flexibility


If you are searching for a way to incorporate these steps into a formalized IT plan, or if you are looking to improve your existing risk management strategy, our Knowledge Network contributors have provided templates to help you determine risks, assess potential impact, communicate with stakeholders and make informed decisions.


Use these templates to minimize risks both at the project and organizational level:

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