The Principles of Risk Management

Global perspective

Viewing software development within the context of the larger systems-level definition, design, and development.

Recognizing both the potential value of opportunity and the potential impact of adverse effects.

Forward-looking view

Thinking toward tomorrow, identifying uncertainties, anticipating potential outcomes.

Managing project resources and activities while anticipating uncertainties.

Open communication

Encouraging free-flowing information at and between all project levels.

Enabling formal, informal, and impromptu communication.

Using processes that value the individual voice (bringing unique knowledge and insight to identifying and managing risk).

Integrated management

Making risk management an integral and vital part of project management.

Adapting risk management methods and tools to a project's infrastructure and culture.

Continuous process

Sustaining constant vigilance.

Identifying and managing risks routinely through all phases of the project's life cycle.

Shared product vision

Mutual product vision based on common purpose, shared ownership, and collective communication.

Focusing on results.

Teamwork

Working cooperatively to achieve common goal.

Pooling talents, skills, and knowledge.