The Risk of Underinvesting in Project Risk

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Author(s): Barry Cousins

Economically, the only way to justify spending on project risk mitigation is to invest at least enough to understand the worst risks that need to be avoided. To make sense of this, build a repeatable process to simplify the upfront risk identification step. Even in a resource-constrained environment like higher education, this quick checkpoint can identify nasty risks that lie in the road ahead.