Project routemap: risk management module

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Details

Risk is defined as the uncertainty of outcome, whether the positive opportunity or negative threat, of actions and events that may be within or outside the control of a project. The identification, assessment, and management of such factors are core activities of risk management. Effective risk management is critical to project success, not only increasing the likelihood of meeting the project’s objectives, but also generating efficiencies. The risk appetite and tolerance of the sponsor, client, asset manager and market organisations will inform the risk management arrangements you adopt.

This Routemap module can help to assess whether existing or proposed risk management arrangements are suitable for the scale or the complexity of your project.

All the modules are designed in the same way, and each module includes guidance on how to use it. This is the contents for the Risk management module:

• Introduction to the Routemap modules
• Cross-cutting themes projects can’t ignore
• Risk management, and why it’s important
• Typical findings
• Pillars of effective Risk management
• Considerations
• Good practice examples
• Suggested further reading

Routemap

Routemap provides an early intervention that supports effective project set up. It is a structured and tested methodology that ensures best practice and learning about the most common causes of project failure are considered at crucial early stages of development.

Routemap is a flexible set of 8 modules accompanied by a factsheet and handbook. The factsheet provides, at a glance, information on what Routemap is, how to use it and how it works. The Handbook explains in much more depth what the Routemap is and how to apply it as a process. The modules offer guidance on the most common challenges for projects and explore good practice to identify and address gaps in capability. The modules can be used as part of the Routemap process or as standalone guides.

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Product Information

Collection Project Routemap

Delivery vehicle Appraisal, Feasibility, Programme, Project

Practice Planning and Control, Risk and issue management

Product type Workbooks and guides

Updates

15 June 2016

First published

27 May 2022

Updated.

17 June 2025

Spelling error corrected.