Understanding the Risks in Enterprise Project Management
Risks are a given for any initiative or enterprise across industries. No wonder, PMI has dedicated a detailed process around risk management as part of their PMP certification.
Projects small or large all involve risks. Having the right understanding and strategy to handle risks is crucial to the project success and the enterprises’ too.
Risks can be of various types and probability and can be lurking across various corners of your project be it regulatory, natural, competition, change of business landscape, advent of disruptive technology. You name it.
Take the e.g. of Nokia and Research in Motion (RIM). Both were the super powers of the mobile phone industry. But the risk of not adopting to the new technology and user sentiment cost them their business and drove them almost to a point of no return.
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