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Risk Management Responsibilities

"Who is ultimately responsible for mitigating risk on a project? The short answer is that it's a shared responsibility, but there must still be a single point of accountability. The resource positioned to stay on top of day-to-day events at a macro level is the project manager or, in the event of an intervention, the project rescue manager. The following is a description of the major roles and responsibilities in the risk management process:

  • The project (rescue) manager is ultimately accountable for the process.
  • The project team does the work to avoid the risks.
  • The project team does the work to mitigate the risks.
  • The project team will implement the contingency plans.
  • The business owners provide the investment to avoid the risks or to recover from them.
  • The project sponsors agree to tradeoffs.

The above is an excerpt from a book written by Sanjiv Purba and Joseph Zucchero, published by McGraw-Hill/Osborne, 2100 Powell Street, 10th Floor, Emeryville, California 94608 U.S.A. Sanjiv has over 20 years of experience managing large projects and many years engaged in rescuing ailing projects.