Risk Management in Lifestyle Projects

Risk management analyzes the possible trade-offs between cost, schedule, and uncertainty. Risk management strategy represents some kind of rebalancing, of choosing alternative ways to deliver the same results. 

Six Rules of Project Risk Management (RM)

For lifestyle projects, follow these six rules to apply risk management successfully in your project:

Project Management

What Is PM

Key PM Documents

2 Approaches to Project Management

Business Systems

1. Focus on future scenarios to identify risks early in your project

2. Analyze risks considering both threats and opportunities

3. Plan risk responses, including responses to risk opportunities

4. Prioritize risks

5. Communicate consistently about risks to your team and project sponsors

6. Make RM a part of your project

Risk Management in Radical Projects

There is practical value in understanding the patterns in and the differences between evolutionary incremental change/innovation projects and revolutionary radical change/innovation projects. This understanding can help you apply right management practices to different types of innovation projects and make the course of radical innovation shorter, less sporadic, less expensive, and less uncertain.

Radical vs. Incremental Innovation

Radical vs. Incremental Change

Radical Project Management (RPM)

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