Do a One Minute Risk Assessment

How does your team manage risks?

Examples of risk culture in teams:

• When someone in my team notices an issue or risk, they immediately report it. We have a no-blame culture.
• In team meetings, project risks are part of the default agenda, where we discuss risks and report new ones.
• My team knows who is responsible for each risk. We assign "risk owners" to each key risk.
• My team has a "dashboard" that provides the status of critical risks, and risk response plans.
• My team knows how to prioritize risks. We know that big damages occur when several smaller problems coincide.
• My team knows how to respond to risks. For those risks that we can't reduce, accept, avoid or transfer, we have a contingency plan in place.
• My team knows the industry-specific compliance and regulatory rules. For example, we know that risk assessments are essential for GDPR compliance (EU General Data Protection Regulation).
• My team continuously implements improvements. We analyze whether our risk assessments, and controls, were accurate.
• Risk management is a high priority for our top management.