Risk and issue management is a high priority for every CXO
Risk and issue management services
The UK HM Government has a robust RAID or MART controls framework
Risk and issue control
Controlling risks and issues are only two of the main pillars recommended within a typical controls framework for large transformation programs (both private and public sectors).
Although the terminology may vary, some departments refer to RAID logs whilst others refer to MART registers.
In essence, risks and issues (amongst others) are stacks of records structured in a tabular format that keep track of emerging themes that might affect the delivery of a project or programme.
We have in-depth experience reporting and managing the following data sets.
Risk management
We have extensive experience identifying, collating, managing and closing out risks at various levels from project to complex policy-related programme level.
Issue management
We specialise in identifying risks that are likely to become issues, managing them, identifying mitigation factors that drive de-escalation and closeout.
Decisions register
We recognise that the management of risks and issues may involve making decisions, so we advise on standing up a decisions register for traceability and transparency.
Changelog
We believe that the management of risks and issues might generate variations within a given program. Therefore, for the audit trail, we recommend setting up a changelog.
Lessons learned register
We practice continuous improvement, and we believe that making a record of the lessons learnt at the end of each week or sprint (if Agile Scrum is in use) is the best way to consistently reflect and improve programme or project delivery.
Daily activity log
Some team members require a nudge to close out their outstanding actions to mitigate against programme risks and issues? We recommend organising a daily activity log a live file to maintain a consistent delivery.
Risks and issues are the most critical control pillars which a PMO can manage
The C-suite and HMG Directors will always emphasise on risk and issue management
Having a robust escalation process helps elevate only the critical risks and issues
Tools for risk and issue management
Identify all sources of risks and issues, such as logs, registers, Excel files, or even pocketbook notes and contact them into a concise, normalised list.
Ensure the risks and issues identified are mutually exclusive and collectively exhaustive and verify that the correct ownership information exists and valid due dates for mitigation and follow-up actions.
Use an innovative tabular system such as a SharePoint list to manage risks and issues to decrease the chances of errors caused by version control conflicts.
Alternatively, configure an advanced Excel tracker by restricting actions that are likely to break the integrity of information as described above.
Ensure the software provides a holistic reporting capability so that the organisation can spot trends and prioritise quickly.
Choosing the right software tool to manage risks and issues is critical to the integrity and correctness of the information. In addition, it helps the senior leadership team focus efforts on making informed decisions rather than managing raw data.
Delegate the management of risks at the portfolio level to a project management office officer
Allocate responsibilities for risk and issue management
Delegate an officer for the mgmt of risks, issues, assumptions and dependencies of a project
Risk and issue resolution culture
Cultivate an Agile Scrum leadership servant culture within the organisation to resolve risks and issues before escalation becomes inevitable.
Establish clear definitions for what escalation requires and organise the forums where risks and issues are invoiced for visibility and equally the escalation methods should they be needed.
If the need to escalate occurs, then ensure action owners and relevant stakeholders are sighted and aware that they must drive corrective actions.
A reliable delivery partner
In our opinion, an efficient risk and issue management organisational function provide the briefing room for senior directors, partners and ministers to lead whilst we would manage any emerging challenges.
Establish how much visibility decision-makers from the central government or the C-suite require within the daily reporting streams and provide a consistent level of information to form trust and enable them to make informed decisions.
Establish who becomes the owner of escalated risks and issues across the chain of command
Risk and issue reporting vs escalating
Drive closure to escalated risks and issues and ensure mitigating actions are delivered
Transformation relies on improvement
Our team has extensive experience managing risks and issues in both design and delivery, in both projects and programs, in both private and public sectors.
We have an excellent understanding of the human factor and the behaviour of project management office staff and external stakeholders is risks and issues emerge and require managing.
Get in touch with our risk and issue management team and tell us your challenge so we can provide you with support and advice.
