What is the Rule for Risk?
The Rule for Risk is a trademarked term used by ProjectManagement.co.za to embed a project reporting practice which is necessary for running projects of any size efficiently and effectively in any environment and industry.
The Rule for Risk is:
I must fully inform the relevant person as soon as I become aware that something may not be, or happen, as expected.
The Rule for Risk is an undertaking to keep people informed, so that they are in a position to make better decisions.
Where is the Rule typically used, and what are the benefits?
The Rule for Risk is a powerful tool for bringing about a change in organisational culture. It develops openness, risk-awareness, accountability and responsibility. When appropriately reinforced amongst a team, the Rule fosters humility, and brings about acute awareness of one’s own actions.
The Rule for Risk helps to establish an environment which makes it possible to implement formal Project Management. If organisational leaders follow the Rule firstly amongst themselves, and then also expect it of their subordinates, the management of projects becomes a lot easier and there’s less stress. Following the Rule for Risk also makes projects cheaper, because the expense of sending people around to check up on everyone is reduced, and problems can be identified earlier.
The Rule for Risk™ is a trademark of O-I-C Business Integration CC.