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.

Risk 81

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 México, 1 al 3 de Febrero de 2006.

Risk 35
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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. Risk a Feelings,” George F.

2012 33

Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

Research clearly shows the root causes of most software projects cost and schedule overruns and technical shortfalls comes from poor risk management. Most post-mortems of these software disaster projects have shown that their problems would have been avoided or strongly reduced if there had been an explicit early concern with identifying and resolving their high-risk elements. Now To Risk Management. Risk is the effect of uncertainty of objectives.

2007 32

Seven Project Management Influencers to Watch

Project Risk Coach

Elizabeth Harrin is the creator of A Girl’s Guide to Project Management which she started in 2006. Another thing I appreciate about Kiron is that he not only is a Project Management Professional (PMP), he is certified as a Risk Management Professional (PMI-RMP), along with other certifications. His perspective on project and risk management is balanced and practical.

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. Perhaps you’ve faced situations like these: A team member constantly treated other team members with disrespect. Your team was in trouble, but your sponsor was unavailable to help.

2017 163

What’s in your backlog?

Leading Answers

Risk avoidance and risk reduction activities – Sure, maybe. Here’s a typical backlog showing a combination of features, change requests, bug fixes and a couple of risk reduction activities.   Risks in the Backlog. I have been keen on proactively addressing risks for many years. Just as features deliver value, risks in the form of threats to the project cost money and cause delays - if they occur.

2018 65

A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management. Event-Based Scheduling , 10 November 2006. Risk Management. Five Easy Pieces: The Essentials of Managing Programmatic Risk , 10th Annual Rocky Mountain Project Management Symposium, Denver Colorado, April 2008. Managing in the Presence of Uncertainty and Resulting Risk. Programmatic Risk Management, Program Planning and Controls Workshop , Denver, Colorado, 6-14, October 2008. Risk Management.

2008 45

Why do projects fail? (Includes examples!)

Rebel’s Guide to PM

The Airbus A380 was due to take to the skies in 2006. It’s easy to find examples of high-profile projects that fail. The ones that hit the papers are often public sector projects because their audits and budgets are more open to scrutiny.

2022 226

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

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. Epistemic uncertainty can also occur when there is a subjective evaluation of the system - a risk from a rare event or an event with little or no empirical data. One starting point is the value at 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. IT Risk Management. The estimating of software development is both straightforward and complex. When it is suggested that estimating is hard, of no value, and unnecessary, always ask what principle is used to support that claim? Don't hear one?

Scrum Methodology: Roles, Events & Artifacts

ProjectManager.com

What is their impact, risk and how the item might help in the learning process? In 2006, Sutherland created Scrum, Inc. ,

2022 327

Compendium of Works to Increase Probability of Project Success

Herding Cats

Business, Technical, Systems, Risk, and Project Management Briefings and Presentations. Risk Management (#RM). Business, Technical, Systems, Risk, and Project Management. Managing projects in the presence of uncertainty means making decisions about cost, schedule, and technical performance all risk-adjusted , from the uncertainties that create risk. But in fact, risk management is part of the other 4 principles as well. Risk Management .

2019 37

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

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

Herding Cats

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. Inadequate assessment of risks and unmitigated exposure to these risks with proper handling plans. Either the team itself, the Project or Program Manager, or on larger programs the Risk Management owner. .

2017 33

Cone of Uncertainty - Part Trois

Herding Cats

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. Inadequate assessment of risks and unmitigated exposure to these risks with proper handling plans. Either the team itself, the Project or Program Manager, or on larger programs the Risk Management owner. .

2017 28

Cone of Uncertainty - Part Cinq (Updated)

Herding Cats

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. Inadequate assessment of risks and unmitigated exposure to these risks with proper handling plans. Either the team itself, the Project or Program Manager, or on larger programs the Risk Management owner. .

2017 30

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

Teamweek

It has been around since 2006. Improves business visibility: Risks and opportunities spotted during project execution mean you can review your business goals as things change instead of waiting for the annual review. So project teams can spot risks and opportunities early.

2021 75

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

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. It was a risk that paid off handsomely for the company, but it involved innovative thinking. Everybody’s head is in the cloud nowadays. The phrase has shifted its meaning, however.

2018 267

The 5 Best Free Smartsheet Alternatives of 2019

nTask

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. Issues and risks management. Issues and Risks management to tackle their occurrence likelihood. Free – up to 5 projects, 5 free workspaces, unlimited tasks, unlimited meetings, 5 MBs file attachment size, 200 MBs of storage space, issues and risks tracking, timesheets. Risk analysis and control.

2019 94

Project Managers Moving from Public to Private Sectors

Arras People

They are risk averse. I joined the organisation in July 2006 on the XXX Programme reporting to the Programme Manager who in turn reported to the Director of Resources as the programme sponsor. 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.

2016 152

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 58

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.

Estimating is a Learned Skill

Herding Cats

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 Agile Estimating and Planning , Mike Cohn, Prentice Hall, 2006. ” Haugen, Proceedings of AGILE 2006 Conference (AGILE’06). “A

Ten Trends in Project Management Recruitment in the UK

Arras People

It comes down to how risky it is to hire someone who doesn’t have that previous sector experience, and how willing an organisation is to take that risk. The Age Regulations that came into effect in 2006 still has little impact. At last month’s Project Challenge , we got asked a lot of questions, the most popular by far is, “ What is the market like at the moment?

2016 168

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

Planio

Risk Up Front: Managing Projects in a Complex World. Published date: 2006 (Revised edition). Risk Up Front: Managing Projects in a Complex World. Project managers working on large and complex projects who want to learn how to minimize risk.

2020 124

Estimating Agile Projects.Or Not

Mike Griffiths

"The Same Poor Results, But with Much Less Effort" Around 2006 at the agile conferences, I recall a presentation by Motorola on the effectiveness of using planning poker estimation compared to its previous, high-rigor approach.

Route to Enterprise Scale Agility

Digite

What are the key risks in the adoption and scaling of Kanban to drive enterprise agility? It is a truly a low risk, high impact approach to improving business performance. Finally, if you’ve truly moved to pull you can understand business risks such as the cost of delay, offering different business services models, based on urgency and risk, with service delivery implemented through capacity hedged classes of service.

2017 83

Software Estimating Resources

Herding Cats

179, 2006. Monte Carlo Schedule Risk Analysis,” Intaver Institute, Inc. What the Data Say About IT project Risk in the Public Sector,” Alexander Budzier and Bent Flyvbjerg, in Commonwealth Governance Handbook, 2012/2013: Democracy, development, and Public Administration, Commonwealth Secretariat, December 2012. 123, 2006. “A Monte Carlo Method in risk analysis for investment projects,” Victor Platon and Andreea Constantinescu, Proceedia Economics and Finance, 15 pp.

Cone of Uncertainty - Revisited

Herding Cats

One chapter on the Principles of Risk Management and the second chapter on the Practices of Risk Management. Since reducible and irreducible uncertainties create risk, those uncertainties need to be reduced as the project proceeds for the probability of project success to increase. The Cone of Uncertainty,” Stephen Gryphon, Phillippe Kruchten, and Steve McConnell, Letters, IEEE Software , 23 (5) 2006, pp 8?10.

2012 28

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. Issue and risk management. Risk analysis.

2021 78

Project Portfolio Management Works for More Than Just IT

Meisterplan

In 2006, Anand Sanwal, CEO of CB Insights, and former VP of American Express, said, “I remain amazed at how the entire portfolio management discipline has become largely focused on enabling corporate portfolio management for IT investments. You have to decide what criteria makes the most sense for your organization (for example, criteria based on strategic objectives, revenue, ROI, or risk).

In-Depth: How Coherence And Cohesion Are Critical To Scrum

Scrum.org

Wang et al (2006) studied software teams tasked with ERP implementations and found that cohesive teams performed significantly better than less-cohesive teams. High cohesion also comes with risks, such as groupthink and conformity to group opinions (McCauley, 1998). 2006).

2022 70

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

Planio

Since Jean-Philippe Lang released the first version of Redmine in 2006, an active community has sprung up to optimize and expand the original code. Redmine was launched in 2006 and is still being regularly updated.

2020 85

Reading List for the Cone of Uncertainty

Herding Cats

Schedule Estimation and Uncertainty Surrounding the Cone of Uncertainty," Todd Little, IEEE Software , May/June 2006. IT Risk Management. The Cone of Uncertainty is a useful approach to defining the expected range of uncertainty at specific stages in a project. The primary purpose of software estimation is not to predict a project’s outcome; it is to determine whether a project’s targets are realistic enough to allow the project to be controlled to meet them ? Steve McConnell.

2012 41

Wrike Review- 10 facts you should know

Binfire

Wrike was funded in 2006 by Andrew Filev and has locations in California, Ireland, and Russia. . Risk management is another important feature found in LiquidPlanner and not Wrike. Wrike is a popular project management application. It is used in various industries and team sizes all over the world. In this article, we cover what is good about this application, what is bad, facts you need to know before purchasing it, and how it stacks up against the competition.

2018 73

In-Depth: What a Social Systems Perspective Teaches us About Change

Scrum.org

Morgan (2006) explores the roots of this mechanical perspective?—?or Morgan (2006) draws attention to its deeply reductionist nature. There is much to say about the differences between these perspectives (see also Morgan, 2006). 2006). 2006).

2006 53