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.

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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. Management of Risk was the next obvious area for us to expand into.”. programme risk.

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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.

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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. Posted in General.

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Software Review: ProjectManager.com [2016]

Girl'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. General information.

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Risk Management is How Adults Manage Projects

Herding Cats

Risk Management is How Adults Manage Projects - Tim Lister. Here's how we manage risk on our software intensive system of systems using Agile. . Risk management requires making estimating of the reducible and irreducible uncertanties that create risk. IT Risk Management. Risk Management is How Adults Manage Projects. Estimating is Risk Management. NoEstimates Risk

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What is Risk Management?

Herding Cats

Risk management is about making informed decisions by consciously assessing what can go wrong, as well as the likelihood and severity of the impact when that possibility comes true. The heart of Risk Management is making informed decisions in the presence of the uncertainties that create risk.

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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. Risk. Secondary risk.

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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.

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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?

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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. IT Risk Management.

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Risk Management is All in YOUR Head

PMStudent

“Everything in life has some risk, and what you have to actually learn to do is how to navigate It.“ “ – Reid Hoffman No project is without risks. It is all in how you handle those risks.

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PLEASE TAKE MY 2016 READER SURVEY

Project Risk Coach

To do that, I’ve created my 2016 Reader Survey. The Project Risk Coach. The post PLEASE TAKE MY 2016 READER SURVEY appeared first on Help Me Help YOU! I want to ensure my platform does the best possible job of answering your needs and interests.

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Evaluating Project Schedules Utilizing Quantitative Risk Analysis

Project Risk Coach

Often times, risks occur and project managers lack adequate schedule reserves. The team also identified 30 risks in the qualitative risk analysis. Of the 30 risks, the team identified six risks that had the greatest potential for affecting the schedule. Risk B.

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Information Technology Risk Management

Herding Cats

Risk Management is How Adults Manage Projects - Tim Lister (IBM). It can't be stated too often - either manage risk, or risk will manage you. Projects without risk management are late and over budget before they start. Reducible uncertainties can have specific actions to reduce to risks that result from the uncertainties. Irreducible uncertainties can have no specific actions, but must have margin to protect from the resulting risk. IT Risk Management.

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. When problems occur, they turn to their risk response plan. Remember the definition for controlling risks?

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. How to See Through Risks.

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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?

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The Naive Notion that Agile Mitigates Risk

Herding Cats

The post Top 5 Ways Agile Mitigates Risk is one of those posts that's not wrong in what it says at the detail level - more or less, but is not right in principle. Agile Mitigates Risk - is not correct. Agile provides rapid identification of risk. What is risk management?

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Prepare for the Unknown: AKA Risk Management

PMStudent

Risks that become a reality are a type of change that you will experience. Risk TrainingAccept the fact that your project plans will change. Move forward confidently knowing that you will have a plan.

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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. Implementing Risk Response Plans.

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.

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The Most Popular Project Management Hacks Articles of 2016

Project Management Hacks

A news screen at the gym informed me that there are less than 30 hours left to go in 2016! They’re often mandatory for high risk activities (e.g. 16 Podcasts To Grow Your Career In 2016.

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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. 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.

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How to Be a Powerful Risk Management Evangelist

Project Risk Coach

Mark Langley, President and CEO of the Project Management Institute (PMI), penned a great article entitled Using Project Management to Reduce Risk. Indeed, “high-performing companies manage risk in conjunction with projects and programs far more often than low performers do.”

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More on the risk matrix

Musings on Project Management

In 1711 Abraham De Moivre came up with the mathematical definition of risk as: The Risk of losing any sum is the reverse of Expectation; and the true measure of it is, the product of the Sum adventured multiplied by the Probability of the Loss. Quotations Risk Management

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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.

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5 Cybersecurity Tools and Services to Consider for 2016 and Beyond?

Brad Egeland

If full prevention and avoidance is basically out of the question, then we need to focus on risk identification, mitigation and response. My background is primarily information technology and project management.

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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.

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. Project managers can use risk audits to look backward and risk reviews to look forward. Who Performs the Risk Audits?

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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.

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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. How to Identify Sneaky Risks.

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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. Now To Risk Management. Risk is the effect of uncertainty of objectives. occurrence, or recurrence of the cause of the risk.

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12 Project Management Related Tools to Consider for 2016?

Brad Egeland

In this presentation, I'd like to share 12 such products that are definitely worth checking out for your 2016 project management needs. Portfolio executives can perform regular assessment of portfolio metrics in terms of budgets, risks, resource capacities and revenues.

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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? As we work to develop and compress our schedules, let’s be aware of the common causes of risk. 5 Causes of Schedule Risk.

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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

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Unknowable in the risk spectrum

Musings on Project Management

Would you agree that safety risk guru Matthew Squair has it about right that this is a fair representation of the risk spectrum? Risk ManagementActually, I'm not so sure about the "Is it possible" controlling and mitigating for ontological uncertainty (Squair defines ontological uncertain this way: "Ontological uncertainty lies at the far end of our continuum and. represents a state of complete ignorance.

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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? Poor recognition of emerging risks.

Managing Risk: The Unknowns that Really Matter

Hydra

A large part of the successful delivery of any project is the ability to reduce, eliminate and account for the unknowns, otherwise known as 'risks'. {socialbuttons}.

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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

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