Creating a Risk-Adjusted Backlog

Mike Griffiths

This article explains what a risk-adjusted backlog is, why they are useful, how to create one and how teams work with them. What is a Risk-Adjusted Backlog? The Economics of Risk Management. Negative risks are called threats, and positive risks are called opportunities.

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Risk Management Resources

Herding Cats

Risk Management is essential for development and production programs. Risk issues that can be identified early in the program, which will potentially impact the program later, termed Known Unknowns and can be alleviated with good risk management. Effective Risk Management 2 nd Edition , Edmund Conrow, AIAA, 2003. Risk Management is Project Management for Adults - Tim Lister. Risk Management Papers. “A

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Risk Management is How Adults Manage Projects

Herding Cats

In a recent exchange in social media, it was clear the notion of risk and the sources of risk, the consequences or risks and managing in the presence of risk was in very unclear, when it was conjectured , we can simply slice the work into small bits and REDUCE risk. . First, the only risk that can be reduced is the risk created by Epistemic Uncertainty. Making things small does not reduce the risk it may make the uncertainty smaller.

2003 38

A Compendium of Risk Management Resources

Herding Cats

This blog page is dedicated to the resources used to manage the risk encountered on software-intensive systems using traditional and agile development methods. Let's start with a critical understanding of the purpose of managing risk on software development projects. Risk Management is essential for development and production programs. Effective Risk Management 2nd Edition, Edmund Conrow, AIAA, 2003. México, 1 al 3 de Febrero de 2006.

2012 33

Seven Project Management Influencers to Watch

Project Risk Coach

Up your game with new project management resources If you had to pick a few people who are helping you grow and mature as a project manager, who would those people be? She is the author of The Project Management Coaching Workbook and The Power of Project Leadership. Elizabeth Harrin is the creator of A Girl’s Guide to Project Management which she started in 2006. He provides insights and practical tips on ways to improve your project management.

Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

If we look at the discipline of software engineering, we see that the microeconomics branch of economics deals more with the types of decisions we need to make as software engineers or managers. Research clearly shows the root causes of most software projects cost and schedule overruns and technical shortfalls comes from poor risk management. Now To Risk Management. Risk is the effect of uncertainty of objectives. All risk comes from Uncertainty.

2007 32

How to Improve Your Project Interpersonal Skills

Project Risk Coach

If you wish to be a great project manager, focus not only on your technical skills but seek to improve your project interpersonal skills. Extraordinary project managers know how to relate to others when things are going as planned as well as on days filled with undesirable events. Management wanted your project completed in four months, an unrealistic deadline. Conflict management. For communication, a project manager could work on active listening.

2017 163

Strategic Project Management: How To Align Work With Business Goals?

Teamweek

Strategic Project Management can help you answer these questions. In this article, you’ll learn: What is Strategic Project Management? What is Strategic Project Management? It has been around since 2006. Going Remote: A Strategic Project Management Example.

2021 75

Project Managers Moving from Public to Private Sectors

Arras People

I’ve had a number of conversations with a few project managers recently who are looking for a career change – a few of those have been about moving from working in the public sector to the private sector. Here are some thoughts about specific challenges these project managers could face when trying to make the move. They are risk averse. It fails to actually position the project manager within the programme or identify what they were specifically responsible for!

2016 152

What’s in your backlog?

Leading Answers

Risk avoidance and risk reduction activities – Sure, maybe. This product owner manages the backlog, keeping things up to date with the latest product decisions. Here’s a typical backlog showing a combination of features, change requests, bug fixes and a couple of risk reduction activities. Working as a developer at Data Sciences Ltd in the UK I wrote a program to manage our work tasks on a government project.   Risks in the Backlog.

2018 65

Ten Trends in Project Management Recruitment in the UK

Arras People

“ Without getting into specifics about how the market is for certain types of project management practitioners, here’s the current top ten trends in project management recruitment in the UK-based on both our recent research and the day-to-day work we do at Arras People. Ageist regulations do little to curb its practise against young and old project management practitioners. The perceived value of certain project management accreditation is waning.

2016 168

The 23 Best Project Management Books For Upgrading Your Career in 2020

Planio

The number one thing every project manager needs to level up their skills is experience. A good project management book. While there are tons of fantastic resources online for learning how to be a better project manager (such as this blog!) 20 Minute Manager: Managing Projects.

2020 124

Scrum Methodology: Roles, Events & Artifacts

ProjectManager.com

The scrum methodology was developed as a response to rigid project management approaches such as the waterfall method, which didn’t adapt to the needs of agile product and software development teams. The scrum methodology emphasizes teamwork in project management.

2022 327

A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management. Managment Processes. Nine Best Practices of Project Management , Software Program Managers Network (SPMN). Top Habits of Successful Project Managers. Integrated Master Plan: The Foundation of Program Success , College of Performance Management, May 21, 2014. The Nine "I's" of Program Success ," College of Performance Management. Ten Rules for Common Sense Program Management.

2008 45

PMI’s Pulse of the Profession 2020: Creating a Future-Oriented Project Management Culture

Inloox

The Project Management Institute (PMI) has been conducting surveys, questioning international organizations and project managers on a regular basis since 2006. Companies that cling to the status quo run the risk of being left behind.

2020 130

Compendium of Works to Increase Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management Briefings and Presentations. Management Processes (#MP). Project Performance Management (#PPM). Agile Project Management (#APM). Risk Management (#RM). Cost, Schedule, and Technical Performance Management (#CSTPM). Earned Value Management (#EVM). Integrating Agile and Earned Value Management (#AEVM). Business, Technical, Systems, Risk, and Project Management.

2019 37

Why do projects fail? (Includes examples!)

Rebel’s Guide to PM

The Airbus A380 was due to take to the skies in 2006. What is missing in the project management profession is a willingness for organizations to talk about why individual projects fail. It’s easy to find examples of high-profile projects that fail.

2022 226

Project Portfolio Management Works for More Than Just IT

Meisterplan

When people hear the term project portfolio management (PPM), many think that it is a process to manage IT projects and investments. Using project portfolio management principles to manage IT investments has been working well for years. Senior management recommended whatever projects they thought made sense. If the situation I just described sounds familiar to you, I encourage you to read on to find out why we think project portfolio management is your answer.

Project Management, Performance Measures, and Statistical Decision Making

Herding Cats

I work in the Software Intensive System of Systems domains in Aerospace, Defense, Enterprise IT (both commercial and government) applying Agile, Earned Value Management, Productive Statistical Estimating (both parametric and Monte Carlo), Risk Management, and Root Cause Analysis with a variety of capabilities. What reducible uncertainties and the resulting risks were Not handled? USAF Cost Risk Uncertainty Handbook.

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

Uncertainty is related to three aspects of the management of projects: The external world - the activities of the project itself. The risk is created when we have not accounted for this natural variances in our management plan for the project. Dealing with Aleatory (irreducible) uncertainty and the resulting risk requires we have margin. An aleatory risk is expressed as a relation to a value. One starting point is the value at risk. Embrace Risk!

Basis of Estimating Software Development

Small Business CEO

Software Sizing, Estimation, and Risk Management: When Performance is Measured Performance Improves , Daniel Galaorath and Michael Evans , Auerbach, 2006. Agile Estimating and Planning , Mike Cohn, Prentice Hall, 2006. Agile Project Management: Creating Innovative Products , Jim Highsmith, Addison Wesley, 2004. IT Risk Management. The estimating of software development is both straightforward and complex.

The 5 Best Free Smartsheet Alternatives of 2019

nTask

Smartsheet is a project management tool which essentially relies on a spreadsheet format for managing projects and tasks. Introduced in 2006, with a major redesign in 2010, the platform serves as a single systematic and flexible solution for all the task management needs of a team. Although it has extensive features that cater to the project management needs, let’s be realistic! Projects and tasks management. Recurring tasks management.

2019 94

Best Redmine Alternatives in 2021

nTask

Released in 2006, Redmine is a project management tool that was the go-to choice for many teams and individuals. Redmine is an open-source project management application that focuses on issues and bug-tracking. File and document management features. Task management.

2021 78

The Ultimate Redmine Guide: How to set up and supercharge the best open source project management tool

Planio

Redmine is the most popular open source project management tool and issue tracker out there, thanks in large part to it’s dedicated community of users and contributors. Why use an open source project management tool like Redmine? Configuring Redmine for project management.

2020 85

What Is Cloud Storage, and How Are Innovative Companies Using It?

ProjectManager.com

But the elephant in the room is Amazon Web Services, which launched in 2006, and has since become the recognized leader in cloud storage. Some of the disadvantages include the risk to security and the potential of unauthorized access to data. With dashboards, task lists, document checklists and integration with other case management software, the product is seamless for those in the legal industry. Project Management The Project Manager Blog

2018 269

Cone of Uncertainty - Part Cinq

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Aleatory and Epistemic uncertainties, which create the risk to the success of the project. Other uncertainties that create risk include: Unrealistic performance expectation with missing Measures of Effectiveness and Measures of Performance. This is the basis of a risk tolerant plan.

2017 33

Quote of the Day

Herding Cats

It is the lack of needed knowledge of the state of the system in the present or in the future that creates risk. [1], deterministic world, risk management is a critical success factor for increasing the probability of program success. [4] 4] Risk Never Occurs Without a Cause, that Cause is Uncertainty ? Risk is the Outcome of Uncertainty. 212279, February 2006. IT Risk Management. Herding Cats: Risk, Their Sources, and Handling Strategies.

2006 30

Cone of Uncertainty - Part Trois

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Aleatory and Epistemic uncertainties, which create the risk to the success of the project. Other uncertainties that create risk include: Unrealistic performance expectation with missing Measures of Effectiveness and Measures of Performance. This is the basis of a risk tolerant plan.

2017 28

Quote of the Day

Herding Cats

It is the lack of needed knowledge of the state of the system in the present or in the future that creates risk. [1], deterministic world, risk management is a critical success factor for increasing the probability of program success. [4] 4] Risk Never Occurs Without a Cause, that Cause is Uncertainty ? Risk is the Outcome of Uncertainty. 212279, February 2006. IT Risk Management. Herding Cats: Risk, Their Sources, and Handling Strategies.

2006 28

Cone of Uncertainty - Part Cinq (Updated)

Herding Cats

The Cone is a project management framework describing the uncertainty aspects of estimates (cost and schedule) and other project attributes (cost, schedule, and technical performance parameters). Aleatory and Epistemic uncertainties, which create the risk to the success of the project. Other uncertainties that create risk include: Unrealistic performance expectation with missing Measures of Effectiveness and Measures of Performance.

2017 30

Estimating Agile Projects.Or Not

Mike Griffiths

Project managers generally like plans and estimates so we can forecast when things should be done and how much they may cost. It helps manage client expectations and answer the type of questions they ask, such as " When will it be done?

Cone of Uncertainty - Revisited

Herding Cats

We're writing two chapters in an upcoming Project Management Book, with a working title, The Gower Handbook of Project Performance for Agile, Waterfall and Everything in Between , edited by Mark Phillips. One chapter on the Principles of Risk Management and the second chapter on the Practices of Risk Management. In the book is the mention of the Cone of Uncertainty as it applies to managing in the presence of uncertanty.

2012 28

In-Depth: Stable Or Fluid Teams? What Does The Science Say?

Scrum.org

Kozlowski & Ilgen (2006) describe this reciprocity as “process begets structure, which in turn guides process”. Wang et al (2006) studied software teams tasked with ERP implementations and found that cohesive teams performed significantly better than less-cohesive teams. 2006).

2022 61

Estimating is a Learned Skill

Herding Cats

Estimating is a learned skill, used for any purpose from every-day life to management of projects. Software effort estimation terminology: The tower of Babel,” Stein Grimstad, Magne Jørgensen, Kjetil Moløkken-Østvold, Information and Software Technology 48 (2006) 302–310. Software effort estimation terminology: The tower of Babel,” Stein Grimstad, Magne Jørgensen, Kjetil Moløkken-Østvold, Information and Software Technology , 48 (2006) 302–310. “A 3, August 2006, pp.

Reading List for the Cone of Uncertainty

Herding Cats

The beginning of all business critical software development projects is the point in time when performing organizations are least certain about the project, yet it is also the time when top management expects to be delivered project estimates that are very precise. The program management processes should seek to reduce uncertainty in the variable of the project. Schedule Estimation and Uncertainty Surrounding the Cone of Uncertainty," Todd Little, IEEE Software , May/June 2006.

2012 41

Wrike Review- 10 facts you should know

Binfire

Wrike is a popular project management application. Wrike was funded in 2006 by Andrew Filev and has locations in California, Ireland, and Russia. . Wrike offers multiple options for users to manage tasks and projects. . These features include Gantt Chart , Dashboard, storage, and Task Management. The application is loaded with features, which includes such advanced features as task management, time tracking, Gantt Chart, and customizable dashboards.

2018 73

Route to Enterprise Scale Agility

Digite

Kanban helps identify process bottlenecks, manage workloads, and predict output based on flow capacity. What are the key risks in the adoption and scaling of Kanban to drive enterprise agility? This evolutionary approach, when contrasted against traditional approaches to change and agility management, dramatically improve the potential of success. It is a truly a low risk, high impact approach to improving business performance.

2017 83

Software Estimating Resources

Herding Cats

One of our clients, a retired USAF Col Program Manager at an NNSA Weapons Testing Site has a statement that is applicable here: If you lack academic basis and validated experience, your advice is simply unsubstantiated opinion without any basis in fact or principle. 179, 2006. Flint, School of Management, Working Paper Series, September 2005.”. Why Monte Carlo Simulations of Project Network can Mislead,” Terry Williams, Project Management Journal 35(3), pp. 2006. “A

Don’t over-work yourself: Key to reducing stress at work

Proofhub

It completely destroys our health goal: stores huge fat, depleting your energy, lurks in the shadow, more risk of heart stroke, kicking out your concentration, and other undesirable things. The managers and team members across the company take collective responsibility to build a culture through mindfulness and being flexible. Turn your work stress into success with a management tool. decrease-stress manage-stress stress-reducing-tips stress-reduce-strategies

2018 60

Time for Action – Off-Payroll Working April 2020 is Coming!

Arras People

They have also removed their direct risk associated with scoping decisions, though some indirect risk may remain in their supply chain should it fail to pay HMRC. They will then become an employee of the Umbrella which will deduct all applicable payroll taxes, plus a management fee. Management Fee for intermediary’s services. Small business, as defined by the Companies Act 2006, means meeting two or more of the following criteria: Annual turnover is no more than £10.2

2020 33