Recently, during a product class I was teaching, the topic of risk came up. A participant raised their hand and said, “Thanks for covering this! What is Agile Risk Management? Most people, especially in agile, just ignore it.” I was glad to hear they found it helpful  because risk is something I never overlook.

RAID: Not Just for Pests

If you know me, you’ll know I like to stay grounded. My approach is built on a thorough understanding of the subject, a flexible toolkit ready to adapt, and meeting people where they are.

Risk is a constant. It’s there at home, on the street, even when I’m sitting quietly.
Pretending it doesn’t exist at work just seems bizarre. My early career in the industry of mining and civil engineering drove this home. In those industries, assessing risks wasn’t just a practice; it was vital for every project, contract, or decision.

In traditional project management, we often used RAID logs: Risks, Assumptions, Issues, Dependencies. I’ve worked with those colour-coded spreadsheets before, but what really matters is how you use them: how regularly you revisit them and whether you’re actively working to reduce those risks.

Here’s how I approach agile risk management:

At the Start of an Initiative

Begin by clarifying what RAID means. You’d be surprised how often risks and issues are mixed up. I use techniques like silent brainstorming with sticky notes to identify risks. When everything’s laid out, patterns start to emerge, and you can tackle them together.

When Assessing Feasibility

Sometimes, the best decision is not to begin. If an initiative is burdened with excessive dependencies or significant risks, it’s worth pausing to address these first. Can they be mitigated or resolved? Making assumptions explicit at this stage saves headaches later.

During Estimation and Sizing

Risks, issues, and assumptions directly impact task timelines. The greater the risks, the longer things tend to take. Recognising this early can influence task sizing or even prioritisation. Talking about risks during your estimation will help team members to understand the work and make better estimates.

Follow-Through

The job doesn’t stop once risks are logged. Are you tracking them regularly? Do you have the right people in place? Many teams simply tick the box, thinking the work is done. Risks demand ongoing attention – they shouldn’t be sitting on your hard drive gathering dust..

Two Principles to Guide Your Agile Risk Management:

1. Make everything visible.
2. Experiment with what works. Don’t stick with old methods out of habit.

This approach has served me well across portfolios and projects alike.That said, this is my style, a product of my experiences and personality.

Your approach might look different, and that’s a strength, not a limitation.

If you’d like help with agile risk management that works for your unique organisation, Outcome Over Output is here to guide you. Get in touch with us for a free consultation.

RAID the day!