20 minutes | May 5th 2020

Managing Risk

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The coronavirus pandemic has highlighted the importance of risk management. David Hillson, PhD, PMI Fellow, founder of The Risk Doctor Partnership, Petersfield, England, discusses identifying and analyzing risk in innovative and novel situations. Dr. Hillson says COVID-19 isn’t currently a risk—it’s a problem—and the risk management task is to look at the uncertainties that could come next.

Mohamad ElHelaly, PMI-PBA, PMI-RMP, PMP, assistant project manager at Orascom Construction, Cairo, Egypt, shares his top lesson learned from previous projects: Change is inevitable. He also talks about how risk management shouldn’t work in a silo and should be integrated into project processes and decisions.

Key themes 

[02:11] Identifying, analyzing risk in innovative scenarios

[03:39] Risk’s effect on objectives, managing threats and opportunities 

[06:00] Look for uncertainties to come from COVID-19

[11:35] Flexibility, resilience in society, organizations, projects and people

[13:36] Lesson learned: Change is inevitable; you must adapt

[16:23] Integrating risk management into all project processes

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