Just a little bit of info about Project Risk Management in HR Software Projects…
Read Below.
Risk management and internal controls assurance processes should be continuous and become embedded in the operations and culture of the project.
The aim of Subscribe-HR risk management approach is to:
• Ensure the smooth and successful implementation of the Subscribe-HR and its ongoing success.
• Ensure the project team and board are properly informed and can make effective decisions regarding the achievement of project goals.
• Identify all major risks that might prevent the project achieving the key milestones and with the necessary arrangements to manage risks and mitigate their effects.
Risks come from two main sources:
1. External factors
The project team will not usually be in a position to influence these but will need to have controls in place to anticipate them and allow for appropriate responses.
2. Internal factors
The project team will be able to have direct influence over these factors by establishing effective controls, both preventative and detective.
There are four main strategies for managing risk:
• Avoid the risk
• Transfer the risk
• Accept the risk
• Control the risk
