Leadership is what you are..

“Leadership is about what you are…It is not what you wish to be…”

Have you participated in any of self-development program with pages of questions to answer as part of your assessment? If so, be truthful to yourself and tell – “Have you answered those questions with what you are actually? or what you wish to be?”. As soon as you read the question – you will get the answer from sub conscious mind which tells you the truth i.e. what you are. But you read the question second time – your conscious mind starts its thinking process & select the one that you wish to be.

One of my counterpart told me to do yoga to control anger & get focus. He told he is performing under a guru for past 3 years. But when he interacted with me, most of the time he got angry instantly without any reason. I wonder how he claims that he is yoga student for these many years. In many situations, we explain about our own behavior in one way, but we act extreme opposite to that.

But leaders should be of their own kind. Be truthful to themselves. They perform activities as what they are. Only those acts lasts longer. Other things performed just for outside world will not make you a leader.

Little booklet of Risk Management Terminologies

After blogging for past few years, I thought it would be nice compiling information and sharing it based on single subject area. My immediate attention is on Risk Management as I struggled a lot to gain expertise. Here I presented explanation about around 15 risk management terminologies in my style.

This is my small contribution to the Project Management community. Click on the Image or URL presented below the image for the PDF file.

Download: Little booklet of Risk Management Terminologies.pdf (800KB)

Risk Breakdown Structure – A Risk Management Tool

Risk Breakdown Structure (RBS) is defined as “A source-oriented grouping of project risks that organizes and defines the total risk exposure of the project. Each descending level represents an increasingly detailed definition of sources of risk to the project.” – David Hillson[1]

Instead of going through big spreadsheet with hundreds of verbose entries about risks, RBS provides – a pictorial representation of related items through tree structure as an excellent way of getting the whole picture in a single place for effective communication, management and governance.

Organizations have common list of risk categories or even template with sample risks for each category and type of project. This can be used as starting point for risk identification. Though RBS has lot of advantages – here are few:

* RBS give structured approach to risk identification through which all risk areas are explored without fail

* Grouping risks by common root causes can lead to developing effective risk responses

* RBS helps in risk assessment by interviewing or meetings with participants selected for their familiarity with a specific risk category

* RBS give greater ability monitor and control risks identified classified under the same area or root

References:

1. Use a Risk Breakdown Structure (RBS) to Understand Your Risks, David Hillson, Proceedings of the Project Management Institute Annual Seminars & Symposium October 3–10, 2002, San Antonio, Texas, USA. Retrieved from http://www.risk-doctor.com/pdf-files/rbs1002.pdf

Risk Register – Output of Risk Management Process

Risk register (also called as Risk Log) is a master document for all risk related processes. Though it is created during risk identification but updated throughout the project management life cycle. It is part of project management plan.

It contains complete information about project risks like

• Risk description
• Risk owner
• Risk Category
• Cause of the Risk
• Effect or Impact of the Risk
• Project phase detected & affected
• Ranking
• Affected WBS activity
• Probability of occurrence
• Frequency of occurrence
• Proposed responses
• Approved final response
• Contingency plan
• Fallback plan
• Risk Triggers
• Last occurrence
• Cost of mitigation/fallback plans
• Time required for risk responses
• Reserves
• Risk review audit information and Current status of the risk

It also contains information about residual risks & secondary risks.