Proven Project Risk Management Techniques for Increased Project and Organizational Success


By Laszlo A. Retfalvi, P.Eng., PMP, PMI-RMP

Retfalvi and Associates



Management of medium to large complex procurement and integration projects is a difficult challenge. Project decisions at startup tend to focus on decisions on how to achieve near term goals and milestones. Risk management activities are often viewed by leadership as a project expense with little or no return and as a result are generally not properly implemented.

The ability of the project manager to implement proven project risk management techniques will result in increased leadership credibility of the project manager in the eyes of the project team, peers and management along with improved probability of project and organizational success.

Project risk management doesn’t have to be expensive or time consuming – the key is to keep the scale and cost of managing risks in proportion to the scale of the project itself and the types of risks that are presented.

The goal of this presentation is to describe proven project risk management techniques and to assist attendees in how to use these techniques for increased project and organizational success.


Project staff generally are overloaded, especially at project startup, as they are actively involved in a number of simultaneous and critical tasks. Where possible, additional staff are assigned to assist the project and, due to schedule constraints or cost overrun pressures, begin supporting the project immediately to attempt to show progress and improve schedule and cost performance. As a result, project plans are generally often not read or followed.


To read entire paper (click here) 

Editor’s note:  Second Editions are previously published papers that have continued relevance in today’s project management world, or which were originally published in conference proceedings or in a language other than English.  Original publication acknowledged; authors retain copyright.  This paper was originally presented at the 6th Annual UT Dallas Project Management Symposium in Richardson, Texas, USA in August 2012.  It is republished here with the permission of the authors and UT Dallas.

About the Author

Laszlo A Retfalvi

Laszlo Retfalvi is founder and general manager of Retfalvi and Associates, an Ottawa-based consulting firm.  Laszlo is also an Instructor in the Business and Management Programs Department at the University of California – Irvine Extension.

Laszlo offers more than twenty-five years of experience in the project management and engineering fields. Prior to his current roles,  Laszlo held a number of senior and executive engineering, project management, and business development positions at General Dynamics Canada, a division of General Dynamics Corporation. Previously, Laszlo was with the Irving Group of Companies and SED Systems.

Laszlo has been happily married to Lisa for over twenty-five years and has two great sons, Andrew and Alexander. Laszlo earned his Bachelor of Electrical Engineering from the University of New Brunswick in 1984.  He can be contacted at [email protected].  More at www.retfalviandassociates.com