How to Identify Scope Risks

Project Risk Coach

8 ways to identify scope risks Some project managers struggle to identify scope risks. Second, individuals may not know HOW to identify scope risks. Either way, the failure to identify (and manage) scope risks can be costly. What are Scope Risks? Risks are uncertain events or conditions, that if they occur, will have a positive or negative effect on the project objectives. What are some examples of scope-related risks?

2016 235

Risk management for agile projects

Kiron Bondale

What are the implications to project risk management when you choose to deliver a project using an agile approach? Here are a few similarities: Risk needs to be managed through the project’s lifetime, not just at the very beginning. Risk bias and appetite need to be assessed when managing risks. How a team, risk owner or sponsor will identify or respond to risk is tied to their individual perceptions.

2016 196
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Match Game: Project Risk Management

Project Risk Coach

How’s your project risk management knowledge? Some of you are a certified Project Management Professional (PMP) or as a Risk Management Professional (PMI-RMP) so this test may be a good review for you. Matching Game: Project Risk Management. Feel free to share it with other project managers. Instructions: Match the risk management Key Word to its Definition. Key Words for Project Risk Management. Risk.

2016 195

Evaluating Project Schedules Utilizing Quantitative Risk Analysis

Project Risk Coach

Often times, risks occur and project managers lack adequate schedule reserves. Once burned, many project managers start a bad habit – padding their project schedules. If a project is estimated at 120 days, the project manager may add a 10% pad, an additional 12 days. The project manager estimates the project duration to be 132 days. The team also identified 30 risks in the qualitative risk analysis. Analyzing the Highest Risks. Risk B.

2016 195

How to Identify and Manage Secondary Risks

Project Risk Coach

A response to risk can create other risks. These secondary risks may be more significant than the primary risks if we are not careful. What is a secondary risk? A secondary risk is a risk that is created by a response to another risk. What kinds of risk responses may cause secondary risks? How should we address secondary risks? The team captured the secondary risk and developed response plans.

2016 174

12 Questions for Gaining Control of Your Risks

Project Risk Coach

Are you a project manager who focuses on gaining control of your project risks? Some project managers start their projects with a strong focus on risk management. Other project managers start out strong. When problems occur, they turn to their risk response plan. They run toward their risk management tools and techniques to aid them. The result: these project managers spend less time responding to issues.

Risk Management for Project Managers

Arras People

“Increasingly,” says Walaa Bakry, who runs Westminster Business School’s project management courses, “successful project management is becoming a synonym for successful risk management. Therefore, project managers who wish to successfully fulfil their project’s objectives not only need to manage the technical aspects of the project but also ensure that risks which may impact on the project’s objectives are well managed.”. programme risk.

2016 158

What Everybody Should Know About Controlling Risks

Project Risk Coach

Many project managers do a great job of identifying risks. Some even evaluate risks and develop response plans. However, project managers get busy as their projects progress and fail to control risks, resulting abandoned or wrecked projects. So, what does it mean to control risks? Do Project Managers Really Control Risks? Some people argue that we should not use the phrase “control risks.” Implementing Risk Response Plans.

Software Review: ProjectManager.com [2016]

Rebel’s Guide to PM

The dashboards give you a snapshot of the project in real time and are ideal for showing a summary of progress, risks and effort on one page – good for project sponsors and other stakeholders who aren’t that good at reading status reports. That makes it easy for you to link your project management software to your accounting tools, contact management system or helpdesk software. But overall, this is a good solid tool which does everything most project managers will need.

2016 154

Get Ahead of Your Risks

Project Risk Coach

How to use key risk indicators Which would you prefer? To respond to risks after they occur or to see the risks early and take steps to prevent or reduce your risks? Project managers can get ahead of their risks by thinking differently. If you do, you will stand out from other project managers. Both project sponsors and project managers review summary data that provide insight into the project performance. Risks may have already occurred.

2016 163

How To Better Your Quantitative Risk Analysis

Project Risk Coach

How can we better your quantitative risk analysis? What is Quantitative Risk Analysis? In the project world, a project manager says she is afraid that the team will not complete a testing activity on time — a qualitative statement. The Importance of Quantitative Risk Analysis. Two months into the project, the sponsor needed to make a go/no-go decision and asked the project manager how likely the team will deliver the project by the desired delivery date.

2016 190

How to Connect Emerging Risks, Strategies, and Project Management [Snippet]

Project Risk Coach

How to Connect Emerging Risks, Strategies, and Project Management. Is your organization identifying and managing emerging risks? How have researchers and farmers responded to this risk? Emerging risks were recognized years ago but management has failed to take appropriate steps to mitigate these enterprise risks. Project management is a powerful tool for enterprise transformation. Poor recognition of emerging risks.

2016 203

Software Review: BusiBI Project Manager 2016 v5.7

Rebel’s Guide to PM

Name: BusiBI Project Manager 2016. A Tool For Managing Multiple Projects. The first thing I noted when I set up BusiBI is that if you only manage one project then many of the features aren’t that helpful. Managing Tasks. There’s a risk that your team’s projects will sit at 80% complete for quite some time…. If you’re managing ‘initiatives’ rather than full-scale projects then this is certainly a useful tool. General Information.

2016 160

Ineffective Risk Management [Video]

Project Risk Coach

In Chapter 3 of my book — The Intentional Project Manager , I share twelve reasons that risk management can become ineffective. I would also like to invite you to join the Intentional Project Manager Facebook Group where we discuss the development of interpersonal skills. The post Ineffective Risk Management [Video] appeared first on If you can’t see this video in your RSS reader or email, then click here.

2016 150

How To Better Your Qualitative Risk Analysis

Project Risk Coach

Last week, we looked at why we evaluate risks — it saves time and money by allowing us to focus on the risks that matter most. Before we look at HOW to improve your qualitative risk analysis, allow me to share one more quick example of WHY it’s important. Yes, the inspection cost us money, but what are our risks without the inspection? There is always a cost of risks, now and later. So, how can we improve our risk analysis? Risk B: 4 x 5 = 20.

2016 207

Are You Making These Mistakes When Responding to Risks

Project Risk Coach

Some project managers make timely responses to risks, resulting in positive progress toward their project goals; others act haphazardly, resulting in undesirable consequences. Chuck Swindoll told a funny story that illustrates the dangers of costly mistakes when responding to risks. Mistakes We Make When Responding to Risks. The important thing is that we learn from our mistakes and mature as projects managers. Failure to respond to several small, related risks.

2016 183

How to Look Backward and Forward at Your Risks

Project Risk Coach

Project managers may fail to achieve their project objectives because they don’t know how to take a look backward and forward at their risks. Some project managers only look backward. Some project managers only look forward. Project managers who only look forward fail to learn from their past successes and mistakes. Project managers can use risk audits to look backward and risk reviews to look forward. Who Performs the Risk Audits?

2016 183

How to Identify, Evaluate, and Respond to Sneaky Risks

Project Risk Coach

How do you know when to respond to sneaky risks? Part of our problem is unknown risks; these risks silently steal and kill over time. Even if we are aware of certain risks, we may be unsure of when to respond. How a Risk Can Sneak In. For the first time, I crossed into a High-Risk Category (240-349). Second, consider the risk management principles that can be applied to your project habits. How to Identify Sneaky Risks.

2016 183

5 Ways You May Unintentionally Create Schedule Risks

Project Risk Coach

The Problems with Crashing, Fast Tracking, and other Schedule Compression Techniques How do project managers unintentionally create schedule risks? For sure, project managers have a responsibility to work with their sponsors to understand the requirements and to complete the projects within the sponsor-imposed deadlines. As we work to develop and compress our schedules, let’s be aware of the common causes of risk. 5 Causes of Schedule Risk.

2016 209

Sustainable Risk Management – Four Current Challenges with Solutions

Green Project Management

This post focuses on the current challenges of sustainable risk management within sustainable change delivery, with useful perspectives, tools, and techniques. The post Sustainable Risk Management – Four Current Challenges with Solutions appeared first on Delivering a better world, one project at a time. This blog post is part of a series that provides the foundation for understanding sustainable change delivery.

Autocrats and Risk management

Musings on Project Management

Autocrates and autocratic leadership -- on the one hand -- and the classic risk management on the other hand. And we ask this because: From essayist Eric Grill writing in the leadership blog of St Thomas University we learn that: Autocratic leaders typically make all major decisions on their own, with little or no input from others Risk Managementis the latter pointless in the context of the former?

2016 174

Seven Ways to Respond to Your Greatest Risks

Project Risk Coach

You and I encounter risks every day. Sometimes we actively respond; other times we passively accept the risk. Consider the following personal risks and responses: You feel a headache coming on. Seven Ways to Respond to Your Greatest Risks. We can respond to risks — including threats and opportunities — in one of seven ways. Negative Risk Strategies (Threats) . Positive Risk Strategies (Opportunities). Review your project risk registers.

2016 195

Risk Intervals and timeliness

Musings on Project Management

Want to manage risks? Everybody starts with the traditional four steps: Identify the risks. The list is different for each Prioritize among risks. some don't need to be managed Evaluate probability and impact Set up a risk response or mitigation Actually, there are problems with Step 3 It's rare, bordering Risk ManagementSuper! It's always a good idea. are you thinking strategically or tactically?

2016 190

How to Respond to Your Risks From Different Angles

Project Risk Coach

Are you guilty of trying to control risks after they are full grown? In the world of business risks, the best time to attack risk is when it’s germinating. In general, you can save time, effort, and money by attacking significant risks early. Keep in mind, every risk does not merit a response. Responding to Operational Risks. Look for ways to reduce technology risks including equipment and software. Responding to Project Risks.

2016 183

Extreme risk management

Musings on Project Management

Extreme risks: ever been there; done that? Extreme risks are those for which the consequences are irreversible, and the impact is near-catastrophic. Risk ManagementIn most cases, the likelihood of the event is low. You're probably thinking: "Black Swan". But no, a black swan is unanticipated and not-thought of -- never happened before so, not on the radar. No, I'm thinking of the knowable, if not the.

2016 163

10 tips for project success: manage risk

The Digital Project Manager

Risks are ugly little things. But if the risks become issues, you’ll be in a bit of bother. Managing risk (or Management of Risk, sometimes helpfully abbreviated to MoR) is such a big deal that you. The post 10 tips for project success: manage risk appeared first on The Digital Project Manager. Posted in General. They’re the things you never really want to talk about.

2016 181

How to Save Time and Money By Evaluating Risks

Project Risk Coach

Evaluating risks save you time and money. Too often, project managers assign resources and spend money to manage risks that are unnecessary. Because these project managers do not know whether certain threats are significant, they may respond in ways that cause more harm than good. I learned a lot about evaluating risks as a cotton scout in the early 80s. In essence, farmers save time and money by evaluating risks. What Is Risk Evaluation?

2016 195

Match Game: Project Risk Management [Video]

Project Risk Coach

Download the Match Game: Project Risk Management. The post Match Game: Project Risk Management [Video] appeared first on If you can’t see this video in your RSS reader or email, then click here.

2016 150

12 Wonderful Ways To Improve Your Risk Management

Project Risk Coach

John Smith was hired as a new project manager at a leasing company, and he was assigned a small project with a team of six people. How well did John use risk management to accomplish his goal? He and his team completed a project plan and identified project risks. He captured the risks in his risk register and periodically conducted risk reviews. He skipped capturing his risks and conducting the risk reviews.

2016 163

Risk responses which PMI never taught you!

Kiron Bondale

We’ve all learned the standard risk responses to threats (accept, avoid, mitigate or transfer) and opportunities (accept, exploit, enhance or share) from the Guide to the PMBOK, and Dr. David Hillson recently wrote about a ninth possible response of risk escalation. So with tongue planted semi-firmly in cheek, here are some other common reactions to risk. ” Unfortunately, stakeholders sometimes act in a way which guarantees the realization of a risk.

2016 149

What is the Management Reserve for Project Budgets?

Project Risk Coach

How to budget for the unknown unknown risks Have you ever had a budget crisis due to the lack of a management reserve? You can — assuming that your organization supports the concept of reserves — create a management reserve when estimating the cost of your project. During the course of a project, you and your project team identify risks which are referred to as known unknown risks. Furthermore, project managers encounter unknown unknown risks.

Budget 251

How to Develop a Simple Scope Management Plan

Project Risk Coach

5 Questions for Developing a Scope Management Plan How can you develop a scope management plan quickly that provides value to the project? Some project managers check the Project Management Body of Knowledge (PMBOK) for advice, which I think is a great place to start. However, project managers may make the following mistakes: Individuals may see the PMBOK as a prescription and include every element for every project. 2=Planning scope management

2016 247

Are You Making This Mistake When Responding to Risks? [Video]

Project Risk Coach

Click here to learn about 12 mistakes that project managers make when responding to risks (and how to get it right). The post Are You Making This Mistake When Responding to Risks? If you can’t see this video in your RSS reader or email, then click here. Video] appeared first on

2016 174

Two doors and the risk manager

Musings on Project Management

A narrative* Imagine two doors to the same room: One labeled risk manager; the other labeled decision maker. Though the risk manager's door, entry is for the inductive thinker: facts looking for a generality or integrating narrative Through the decision maker's door, entry is for the deductive thinker: visionary with a need to connect specifics to the vision And, consider this: Pessimists. induction Risk Management

2016 190

You Can Unlock the Power of Integration Management

Project Risk Coach

How Bring All the Pieces Together If you were asked to describe project managers with one word, what would it be? ” Like a child putting Lego pieces together to build a house, project managers put the project pieces together to create unique products and services, transforming their organizations. Operational managers assimilate people, processes, technologies, and external resources, which are interdependent, one with another. Develop Project Management Plan.

2016 240

8 Things All Bad Project Managers Have in Common

Project Risk Coach

Bad project managers create project cultures filled with stress, confusion, and little progress. Let’s run through a list of eight things that all bad project managers have in common. Some project managers keep their team members in meeting prison, and often, the meetings are things that could have been handled in other ways. Project managers are notorious for truckloads of documentation (that no one reads). Great project managers know how to listen.

2016 299

The first question of risk management

Musings on Project Management

The first question of risk management -- in my opinion of course: Where does the slack go? And, that's the first question because: No matter the nature, cost, impact, probability etc of the risk, you can't manage any of these without slack, ie "buffer" or "white space". "No Risk Management schedule

2016 163

Risk management: we don't make policy

Musings on Project Management

From General Mike Hayden's memoir (paraphrasing from pg 428) Imagine two doors to the same room: One labeled risk manager; the other labeled visionary. Though the risk manager's door, entry is for the inductive thinker: I've got the facts; now I need to connect the dots to reveal a generality or integrating narrative Through the visionary's door, entry is for the deductive thinker: I've. creativity Risk Management

2016 174

Have You Left Anything Out of Your Project Plan?

Project Risk Coach

Project Integration Management Plan. Project Scope Management Plan. Project Time Management Plan. Project Cost Management Plan. Project Quality Management Plan. Project Human Resource Management Plan. Project Risk Management Plan. Define how you will identify, evaluate, manage, and control risks. Project Procurement Management Plan. Project Stakeholder Management Plan.

2016 224

The What, Why, and How of Project Requirements

Project Risk Coach

The Project Management Institute says, “47% of unsuccessful projects fail to meet goals due to poor requirements management.” ” In his book — Just Enough Requirements Management — Alan Davis shares, “Various studies suggest that errors introduced during requirements activities account for 40 to 50 percent of all defects found in a software product.” Project managers talk about this topic a lot.

2016 268