Category Archives: Managing Risk

Risk Analysis

Risk Analysis

Risk Analysis is a process that helps identify and assess potential threats that could affect the success of a business or project. It allows to examine the risks and includes means to measure, mitigate and control them effectively. It is part of the larger process of risk management although risk management can also refer to the process of controlling and monitoring risks. Read more »

RAID Log

RAID Log

RAID Log is a project management tool that is used to store several project information in one place. It serves as a central repository for all risks, assumptions, issues and dependencies related to a project. It allows keeping track of everything happening in your project, making it a useful document in regular project meetings and for audit purposes. RAID stands for Risks, Assumptions, Issues and Dependencies. Read more »

Traffic Light Assessment

Traffic Light Assessment

Traffic Light Assessment is a rating system for evaluating the performance of a process or variable in relation to a goal. It is a good way to communicate information, and have the advantage of being universally recognized by everyone. It indicates the performance using the three colors of the real traffic lights (red, yellow and green). Good and poor performance can easily be identified and addressed. The results should then help in decision making and the selection of the appropriate corrective and preventive actions. Read more »