Is risk management really that effective?

Ron Rosenhead

I explored the need for a systematic risk process for projects. I discussed the need for a systematic approach to risk management and I am assured this happens. Risk is not seen as a key process. Are we really managing risks or playing at it?

Risk 164

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. 255, April 2010.

Risk 45

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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. .

2003 49

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 42

Estimating the Risk

Herding Cats

Risk is everywhere on projects. This risk comes from two types of uncertainty. The idea of risk and its management and handling is a critical success factor for all software development. One of the most rigorous theorems of economics [1] proves that the existing means of production yields greater economic performance only through greater uncertainty that is, through greater risk. Without these estimates, there is no risk management.

What Is Risk?

Herding Cats

Risk is the effect of uncertainty of objectives. In the context of risk management, uncertainty exists whenever the knowledge or understanding of an event, consequence, or likelihood is inadequate or incomplete ? ISO 31000:2009, ISO 17666:2016 and ISO 11231:2010 Risk is Uncertainty that Matters. Risk can be the potential consequence of a specific outcome that affects the system's ability to meet cost, schedule, and/or technical objectives.

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. Now To Risk Management. Risk is the effect of uncertainty of objectives.

2007 42

The risks of road rage on your project

Guerrilla Project Management

As Project Managers, we have to remember that our number one priority is to create an environment where our team members can do their great work and feel safe to speak up and express their ideas, no matter how silly or contrarian others might find them.

2010 40

Tips and Tricks for Smart Project Planning

Wrike

Critical path analysis and project management tools can be really helpful in administering and managing projects. Thus, the formal critical path for small projects is often obvious enough for project managers and for project management software.

2010 50

When Rules of Thumb Can Be as Effective

Wrike

To mitigate this risk, you might want to put such tasks with unreliable estimates sooner, rather than later, in your schedule, or at least allocate sometime early in the project schedule to elaborate on blurry estimates (prototype, research, detail).

2010 36

Observations from Computerworld's Premier 100 Conference

Knowledgeline

It was awkward to walk around and not know many people, but I did manage to find Melvin Evins (an ILTA member), the only other person from a law firm that won an award. This is not to say they want failure on major projects, 'cheap' meaning that it be low in both cost and risk. They spend a lot of effort taking reports that senior management get in excel or in a list view and creating 'cockpits' which are very visual dashboards.

2010 43

What software projects and battlefields have in common

Guerrilla Project Management

Stephen Cohen wrote a wonderful blog post on 10 analogies for managing software projects. One analogy that really resonated with me is # 7 “Battlefield management”. He wrote: While I don’t mean to in any way belittle the heroic efforts and significant risk to those in real battlefield situations; software, particularly large complex solutions, required.

2010 40

The 7 Habits of Successful Project Managers

ProjectManager.com

But what habits apply specifically to successful project managers? So, habits amplify how effective you can be and, therefore, how successful your project management practices are. So, get into the habit of thinking in terms of risk. Constantly working their risk register.

2018 425

No more initial estimates? NOOOOOOOOOOO!

Kiron Bondale

You are assigned to manage a project and before you or your team have had an opportunity to start to chip away at the looming mountain of uncertainty, you get put on the spot to provide a cost or schedule estimate by your project sponsor or some other stakeholder.

Let’s Rewrite the PMBOK

Leading Answers

If we want to change the future of project management I believe the best way to do that is from the inside outwards by doing the work - not from the outside inwards just criticizing. Longtime readers may recall my 2010 post Raise A Little Hell when the PMBOK v5 Update was being commissioned.

2010 90

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. Ten Rules for Common Sense Program Management.

2003 59

Conducting Project Management Interviews

Arras People

We recently put together a top five list of project management interview questions after speaking with some of our clients. The questions below are generic open questions that can be asked regardless of the project management role being recruited for.

2016 311

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). Earned Value Management (#EVM).

2003 45

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. Papers on Risk Management.

4 Things the Project Manager Should Expect of Senior Management

Brad Egeland

Project managers are used to working fairly solo. If you have a PMO of, say, 15 project managers who are each running, on average, 5 projects then that’s 75 projects that may be going on at any given time in the organization.

Have you tried Gantter?

Girl's Guide to PM

Gantter is a Gantt chart-based Critical Path Method (CPM) project management tool in the Google Chrome web store. Gantter was designed to give Google users the most natural Google Drive Editor-like experience for their online project management.

2020 242

Can the Words “Innovation” and “Project Management” Be Used In The Same Sentence?

The IIL Blog

Senior Executive Director for Project Management, IIL. According to management guru Peter Drucker, there are only two sources for growth: marketing and innovation [Drucker, 2008]. The question, of course, is “How do we manage innovation needs?”. INNOVATION AND PROJECT MANAGEMENT. For years, there has been a debate as to whether the words “innovation” and “project management” should be used in the same sentence. PROJECT MANAGEMENT IS A BUSINESS DELIVERY SYSTEM.

I may be a “Crazy Fool” but I consider the A-Team to be agile!

Kiron Bondale

If your only exposure to The A-Team was the horrible 2010 movie starring Liam Neeson, you owe it to yourself to watch a few episodes of the original series. Here are a few of the reasons for this: The team is self-managing.

2019 167

10 Project Management Hacks Every Project Manager Should Know

The Squad Report

As project managers, we’ve all had a taste of at least one project gone awry. A KPMG survey of 100 businesses reported 70% of organizations faced at least one project failure in the year 2010 alone. And the best way to do that is by using a project management tool.

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.

2017 43

Back to Basics: What is Microsoft Project?

MPUG

Microsoft Project is a software application sold by Microsoft that provides project management tools to manage projects. It provides alternate methods of organization to accommodate other methods of managing projects (i.e. Microsoft Project 2010.

2010 104

Lessons in agility from wine tasting…

Kiron Bondale

After enjoying a glass of their 2010 Reserve Meritage I came to the conclusion that wine tasting and agile have more in common than you might think. Tagged: agile project management , improving project management , Process compliance stupidity.

Agile 182

Microsoft Project Viewer – View & Edit MPP Files (Updated Nov. 2019)

ProjectManager.com

And while viewers are helpful for, well, viewing the files, what you really need is way to integrate Microsoft Project (MPP) files into your project management solution so you can also update and collaborate on project data seamlessly from one person to another. Risks, Issues & Changes.

2019 287

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.

2007 36

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.

2017 40

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

ProjectManager.com

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.

Why Johnny Can't Do The Math

Herding Cats

In software development, those managing the project have some understanding the market forces (from their marketing departments), the technology (from their engineering department), and how to manage in the presence of Aleatory and Epistemic risk (the managers running a successful firm).

Free Templates to Get You Started Managing Projects with Sharepoint and Office 365

Brad Egeland

One platform that I love for project management is Microsoft SharePoint. ​ Free Download: Two Project Management Templates for SharePoint and Office 365 But for many organizations, getting SharePoint set up for project management is not that simple.

2016 136

Zombie Projects and How to Kill Them

Girl's Guide to PM

One of the first things that project managers learn on training courses is that a project has a start, a middle and an end. Zombie PM is a term I came up with in 2010 when I put together a project management alphabet. have poor management.

2019 265

Managing in Presence of Uncertainty

Herding Cats

Let's say you're the project or program manager of a large complex system. We cannot escape these two uncertainties - reducible and irreducible - and must learn how to manage in the presence of these uncertainties. Inadequate assessment of risk and unmitigated exposure to these risks.

How to Use nTask for Waterfall Project Management – A Practical Guide for First Timers

nTask

We did an extensive analysis of various factors that influence waterfall project management. This helped us to simplify how nTask project management software can be used for solving such issues. Waterfall is a popular SDLC project management model. What Do You Need to Know about Waterfall Oriented Project Management? The Waterfall methodology is the traditional and the most common methodology used for project management. Ability to take risks.

Complete Collection of Project Management Statistics 2015

Wrike

Need up-to-date facts and figures for a project management report, article, or infographic? Browse this collection of project management statistics collected from studies and reports from the past five years. Benefits of Project Management. —1A. Agile Project Management.

2015 61

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.

2012 37

4 Awesome Teamwork Examples for Agile Teams

nTask

Example #2: Broderick Brown – Oklahoma State Football Game 2010. Situation: During a 2010 Oklahoma-Oklahoma State football game, when Landry Jones threw the ball towards an open space, he was not ready for what was coming up next.

2012 103

Webinar Recap: How Innovation & Portfolio Management Office Underpins Corporate Success

MPUG

Please find below a transcription of the audio portion of Tad Haas’ How Innovation & Portfolio Management Office Underpins Corporate Success webinar being provided by MPUG for the convenience of our members. Kyle: Hello everyone, and welcome to today’s MPUG webinar, How Innovation & Portfolio Management Office Underpins Corporate Success. With over 20 years in both product and project management, Tad is a passionate technology evangelist and experienced change agent.