Risk management is a critical part of project management, but it often becomes unnecessarily complex. Mark Turner, a long-standing risk management expert, emphasises in his blog post The New KISS Principle – Keeping It Simple Safer! the importance of simplicity. This article looks at simplifying risk management with the KISS (Keep It Simple, Stupid) principle and presents the solutions Safran Risk Manager offers to make risk management easier. We also invite you to participate in a free webinar next Tuesday at 10am where Mark Turner will talk about Safran Risk Manager.
What does the KISS principle mean in risk management?
The essence of the KISS principle is that simple solutions are often the most effective. In risk management, this means that complex processes and tools should be avoided if simpler alternatives produce a better result. Complexity can increase the potential for error and reduce the effectiveness of decision-making.
Decentralisation of risk ownership
In his blog, Turner criticises the common misconception that risk managers own all the risks of a project. He points out that risk management should be in the hands of the experts who best understand the technical details of the risk. The role of the risk manager is to support this process, not to take responsibility for all risks.
Decentralised risk registers and their problems
Many organisations use Excel spreadsheets as a risk register, but this often leads to errors and inconsistencies. When multiple experts use different versions of the register, differences arise that can affect the outcome of a project. This complexity makes risk management even more difficult.
Correcting bad practices
A key mistake in risk management is trying to balance opportunities and threats. This can lead to misleading estimates of the overall risk of a project. Turner recommends using probability calculations rather than relying on simple formulas that do not take into account all the nuances of risk management.
Safran Risk Manager simplification solutions
Safran Risk Manager has been developed to make risk management easy and efficient. For example, the tool includes slider bars that allow risk owners to easily collect data for risk assessment. This makes data collection simple, but at the same time allows the risk manager to make accurate assessments using three-point estimation.
Facilitating data collection and sharing responsibility
Safran Risk Manager provides all team members with an easy-to-use tool to update and manage their risks. This decentralised approach gives responsibility to those who are most familiar with the background and impact of the risk, reducing the potential for error and improving management.
Real-time risk monitoring and reporting
One of the biggest advantages of Safran Risk Manager is the real-time risk monitoring it enables. This means that all stakeholders can be aware of project risks in real-time and make better decisions together. The availability of real-time information improves collaboration and makes risk management more efficient.
Simplicity of design for Safran Risk Manager
Safran’s design team has made the tool as simple as possible to make it easy to adopt and use. Users only see what they need to see, and complex processes do not prevent the tool from being used to its full potential. Key functions are clearly displayed and data is easily accessible anywhere, anytime.
Better decision-making with better data
By providing a clear view and analytics of the risk management process, Safran Risk Manager supports better decision making. The simplified approach enables teams to make faster and more accurate decisions based on timely and accurate information.
Mark Turner: 15 years of risk management experience
Mark Turner has worked in risk management for more than 15 years. He has extensive experience and a deep understanding of how risk management software can facilitate the work of project teams. Turner is at the heart of Safran Risk Manager’s development and is constantly bringing new perspectives to simplify risk management.
Upcoming webinar: the Safran Risk Manager in practice
We will be holding a free English webinar next Tuesday at 10am where Mark Turner will present Safran Risk Manager in practice. The webinar will give you an insight into how the tool can help projects to anticipate risks and make better decisions. Register to learn more about Safran Risk Manager!
Conclusion
Simplifying risk management is the key to more efficient processes and better decisions. Safran Risk Manager is the tool that makes this possible. Be sure to register for the webinar and learn how you can improve risk management in your projects!