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Managing Without Walls: Maximize Success with Virtual, Global, and Cross-Cultural Teams by Kevin Wegryn, Colleen Garton

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Risk-Management Process

The risk-management process is designed to identify, manage, monitor, and prioritize risks on an ongoing basis. The process needs to be transparent so that everyone on the team has access to an “at a glance” view into the team’s overall risk status.

The first step in creating a risk-management process is to define the procedures for identifying, evaluating, prioritizing, and creating action/contingency plans for risks. If the team is working on multiple projects at one time, the most effective way to manage the risks is to create a plan for each individual project and have the assigned project manager manage the individual plan. The virtual team manager should have visibility into all the risks, as the combination of those ...

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