Interesting post in a blog I follow called Herding Cats: Risk Management in Five Easy Pieces. The five pieced are:

  1. Hope is not a strategy
  2. All point estimates are wrong
  3. Without integrating Cost, Schedule and Technical Performance you’re driving in the rear view mirror
  4. Without a model for risk management, you’re driving in the dark with the headlights turn off
  5. Risk Communication is everything

Read the whole article for more info: I do love point 1 and 5 above all!