4. Mistakes to avoid

4.1 Don't make processes too complex

The main pitfall we see when initiating risk analyses is to systematically try to deploy a standard process to all projects/businesses. Put your energy where it belongs, and make dead ends explicit in your risk management plan. This also has to be weighed against the resources at your disposal.

So, for example, if you're working on a project with ten cases, it's a good idea to start by using the full process on the four riskiest cases, a leaner process (e.g. listing only the ten most critical risks) on the other four, and an expert provision on the remaining two.

This will be far more effective than embarking on poor, comprehensive analyses of the entire perimeter.