How the Adapting function becomes Risk in project terms. “Risk management is not about being pessimistic. It is about being prepared. The best risk managers are optimists with a plan.”
Learning objectives
By the end of this module, participants will be able to:
- Understand what a risk is: an uncertain event that, if it occurs, will affect the project
- Distinguish between risks (uncertain) and issues (already happening)
- Identify risks on their own project by asking structured questions
- Assess risks using likelihood and impact to create a risk score
- Plot risks on a risk matrix and understand what the colours mean
- Develop risk responses: avoid, reduce, transfer, accept, and escalate
- Build a simple risk register for their Climate Action Plan project
- Understand the relationship between risk and the other functions (cost, schedule, scope)
- Connect the Adapting function to the careers of Risk Manager and Risk Analyst
Sections
- 4.1 The Cost Overrun Revisited
- 4.2 What is Risk?
- 4.3 Identifying Risks
- 4.4 Assessing Risks: The Matrix
- 4.5 What Do We Do About It?
- 4.6 Building the Risk Register
Cross-curriculum
- KS4 Maths — Probability (likelihood, scoring, expected value)
- KS4 Maths — Statistics (risk matrix as data visualisation)
- Life and Work — Independent Living (risk literacy applies to adult life — insurance, contracts, decisions)
- KS4 Science — Working scientifically (risk assessment is part of practical work)
Suggested evidence types
- Risk register for the Climate Action Plan (10+ risks, scored, with response strategies)
- Risk matrix plotted (probability × impact)
- Reflection on a risk in the learner’s own life that they have managed well or badly