Risk management metrics – How to prove risk management is working for your project

If a project is successful, was it good Risk Management that enabled that success, or did the project just get lucky? If a project was unsuccessful, did Risk Management fail or did the project just have a run of bad luck? The questions that usually follow are like, “the project was a success, so why did we waste money on Risk Management?”; and, “the project failed, would it have been if we hadn’t wasted money on Risk Management?”

These were the driving questions tackled in 2005 by the International Council on Systems Engineering, Risk Management Working Group in developing a set of measurements (metrics) for the execution of Risk Management on any project.

In this workshop, we will present the Risk Management metrics the INCOSE Risk Management Working Group developed, with some improvements, that will show just how well Risk Management is working on any project, and how to fix it if it is not working so well. With these metrics, you can prove that Risk Management is worth the money (and saving the project).