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What were the lessons learned as you solved these problems?

by | Nov 20, 2022 | Management | 0 comments

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The diagram below comes from the paper, “Managing Risks in Complex Projects,” by Thamhain, H. J. (2013). Managing risks in complex projects. Paper presented at PMI® Global Congress 2013—North America, New Orleans, LA. Newtown Square, PA: Project Management Institute. Study the 5×5 Risk Matrix as shown in the image below and be prepared to use the diagram in your Threaded Discussion. https://www.pmi.org/learning/library/managing-risks-complex-projects-5946 (Links to an external site.)
Throughout your life you have worked on many complex projects: at home, at work, in school, and in your hobbies. You may have a favorite imagined project that you hope to lead and manage in the future. Use one of these as your personal “case study” for this Threaded Discussion.
Study the Risk Matrix shown above. Notice the increasing Impact and Likelihood as the boxes change from green to red, related to the increase in Likelihood and Impact. Consider the Likelihood and the Impact of Risks that occurred in your case study. How did you handle Risks that were in the Green, Yellow, Orange, or Red zones of the 5×5 matrix? What were the Lessons Learned as you solved these problems?
How does this fit with the quote from Peter Drucker that “Change leaders should starve problems and feed opportunities?”

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