Managing risk requires active engagement with the potential event: you need to create a plan and execute it. You must then review the outcomes and refine your plan if necessary. The rinse and repeat, as it says on my shampoo bottle.
Building a plan means selecting from a wide range of possible actions. But those choices all stem from six core strategies. Here is a video (of 6½ minutes) of me speaking on this subject to an audience in London. This was at one of my standard three-hour seminars, which I delivered here to an open audience, for Bite Size Seminars.
This extract from my popular Practical Project Management seminar shows me talking about the six strategies for managing risk. These are fully described in my book, “Risk Happens!” and also referred to in my popular book “Brilliant Project Leader”.
More about this and my other project management seminars at http://mikeclayton.co.uk/a-choice-of-vibrant-seminars/project-management/
For all of my seminars, see http://mikeclayton.co.uk/a-choice-of-vibrant-seminars/