Undertaking Automation Projects The Right Way: Using Risk Management
Source: Emerson Process Management
Risk management is part of the daily lives. For instance, one decide where and how to invest savings for the child's college education or for the retirement by weighing the risks of different investments. The authors assess the risks associated with braking or accelerating when a traffic light turns yellow. An underwriter's assessment of the risks posed by the health and the lifestyle is used to calculate the health and life insurance premiums. When risk management techniques are applied to selecting the most appropriate project management organization for a process automation project, the chance of project success soars. First identify, quantify, and document the project's risks. Then use that information to help one pick the best organization for the job.