What is ORSIPARM, our new Acronym for the Project Risk Process?

In order to give Project Opportunity and Risk practitioners an easy-to-remember acronym to describe the most salient features of an effective process, we have devised the mnemonics ORSIPARM, for Opportunities & Risks – Scanning – Identification – Prioritization – Action – Reserves – Monitoring. Our new White Paper 2015-01 \’ORSIPARM An Easy-to-Remember Acronym for Project Opportunity and Risk Management\’ explains in detail the significance of this acronym.

ORSIPARM is a powerful mnemonics of the different steps that need to be followed when it comes to Project Opportunity and Risk management. It can be used to remember to cover all the necessary aspects, in particular some that might be overseen sometimes in the dynamics of project execution.

For example we introduce the concept of Scanning for new opportunities or risks, which is different from monitoring those that have already been identified.

We will develop further a number of aspects covered by this acronym in a series of White Papers over the next few weeks:

• Why Opportunities before Risks?
• Why such emphasis on prioritization?
• How to size and manage reserves properly?
• Why and how to monitor opportunities and risks?
• Etc.

Get a full explanation of the concepts behind ORSIPARM in our new White Paper 2015-01 \’ORSIPARM An Easy-to-Remember Acronym for Project Opportunity and Risk Management\’ .