In the previous section we talked about how to start talking about the risks. You take a certain aspect and think about it in terms of what you don't know or what might go different then expected. Even better, you do this exercise with some colleagues in a meeting. For every risk that you might come up, you have to specify the following items:

· Risk; A description of the actual risk. Example: Uncertainty availability programming resources.

· Impact (or consequence); The impact on the project (process or product) if the risk occurs. Example: Delay in construction interfaces.

· Possibility; The possibility that the risk occurs (use e.g. high/medium/low). Example: Medium

· Action; The action that can/will be taken to avoid the risk from happening or reduce the chance for it, or reduce the impact. Example: Get planning clear. Investigate possibility external programmers.

· Cost; What is the cost if the risk occurs (time and money). Example: Delay 3 weeks.

You have to review the list that is generated in this way periodically (once a week). If the list is too large to give all the risks your attention, you have to create some priorities. A nice way is to create every time a top ten of the most urgent risks, so you will be sure you focus on the more important ones.

There are a lot more things to say about the subject of risk management. But first of all it's a state of mind. And with the few things shown in the section, you have a good starting point to reach the state. Remember, risk is not a bad thing, and if you come up with an action to resolve it, execute it… don't just talk the talk, but walk the risk management.