Top 5 Responsibilities of a Risk Management Team (Part II)
In Part I, three basic responsibilities of the risk management team have been listed and described. In Part II, the rest two responsibilities will be outlined.
In Part I, three basic responsibilities of the risk management team have been listed and described. In Part II, the rest two responsibilities will be outlined.
A risk management team (workgroup) is a separate and often independent unit within the project management team headed by the risk manager or the chief risk officer. It helps place a value on the project’s activities (such as procuring, communicating, controlling quality, staffing etc.), works out strategies to mitigate identified risks, applies risk management methodologies and risk analysis tools, and integrates insurance policies of treating prioritized threats with the project management team. The primary responsibility of the workgroup is to ensure that the project is provided with a complete risk management information system that ultimately determines how to control and oversee the project’s effectiveness and fulfillment. The team also approves risk management policies and defines their framework.
If during the implementation of your project the team gets stuck with lots of unproductive conflicts and unsolved problems, you can try to follow a general list of team management recommendations. If you haven’t yet found a solution, you can get your team together at a meeting to clarify and agree on the basic rules of teamwork that will govern the team’s behavior. By establishing such rules, you gain more chances to achieve greater team effectiveness and strengthen group collaboration. Read top 4 teamwork tips that you must take into account for building and managing your team.
Aggressive and methodological compliance with strategic opportunities of procurement management activities results in lower total cost of managing an integrated supply chain team. It also ensures delivery of necessary goods and services on time and under budget.
Learn to manage a procurement team in three more steps, including Motivation, Stress Management and Time Management In the previous Part of this article, two steps of the procurement management process have been listed and described. Now we talk about the rest three steps in this publication.