3 Assess and Manage Risks

soulful soul, crunk swamp blues

Listen on 93

Lyrics

[Verse 1]
When storms gather on your project's map
Brainstorm the dangers, close every gap
Delphi experts speak in rounds so wise
SWOT reveals the threats in disguise
Checklists whisper what you might have missed
Interviews uncover risks that exist

[Chorus]
A-M-T-A-E for the threats you see
Avoid, Mitigate, Transfer, Accept, Escalate free
E-E-S-A-E when opportunities call
Exploit, Enhance, Share, Accept, Escalate all
Plot them on your matrix grid tonight
Probability meets impact's might

[Verse 2]
Qualitative sorting, red yellow green
High medium low in the matrix scene
But when numbers matter, quantitative's king
Monte Carlo simulations sing
Decision trees branch to show the way
Expected monetary value holds sway

[Chorus]
A-M-T-A-E for the threats you see
Avoid, Mitigate, Transfer, Accept, Escalate free
E-E-S-A-E when opportunities call
Exploit, Enhance, Share, Accept, Escalate all
Plot them on your matrix grid tonight
Probability meets impact's might

[Bridge]
Risk register holds the master list
Owners assigned, triggers can't be missed
Residual lingers when response is done
Secondary risks from actions begun
Appetite tolerance threshold defined
Contingency money keeps you aligned
Management reserves for the unknown surprise
Agile backlogs need risk-adjusted eyes

[Verse 3]
Tornado diagrams spin variables around
Sensitivity tells which risks are profound
Risk reports communicate the score
Appetite says how much we'll endure
Tolerance shows the acceptable band
Threshold triggers action by command

[Outro]
From identification through control
Risk management protects the whole
Register, analyze, respond with care
Success awaits when you prepare

← 2 Manage Communications | 4 Engage Stakeholders →