Program Management: Identifying and Managing Risk
An example interview question on identifying and managing risks in a large-scale project.
We'll cover the following...
Question
How do you manage risk for your projects? Please provide an example where you successfully identified and managed a risk.
Background
Risk management is very important for TPMs. Staying on top of risks and making sure they are actively managed is a critical part of the job, and it is also where TPMs can add significant value.
Senior-level positions will require demonstration of successful risk management, so be ready with a strong framework and excellent examples. This question aims to prepare you for that.
Solution approach
We want to demonstrate that we are thorough and solution-oriented when it comes to risk management. We will use the following approach to answer this question.
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Start by providing a framework for identifying and managing risk. This will include both strategic and tactical elements.
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Show how we used this framework in a large-scale project to manage risk.
Sample answer
I’ll start by discussing how I identify risks in a project and give some examples of project risks. Then I’ll talk about how I prioritize, manage, and communicate these risks. Finally, I’ll discuss how I effectively managed risk for a large project.
Risk identification
Risks can be found ...