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The Risk Management Plan

Project Risk Coach

Most of your project problems can be avoided or greatly reduced through risk management. The simple act of identifying and discussing risks goes a long way towards reducing problems in your project. Let’s look at how to start the risk management process. How will you identify risks? How often will you perform risk management activities? Who will own the project risks. If not, check with other project managers.

Risk 155

The Road to Effective Project Management Governance

Project-Management.pm

What really is project management governance? With countless articles and books in the business spectrum conveying such practice, project management governance is in the sense, subjective. There’s no correct description of it and it’s safe to say that individuals or groups who employ and encounter project management governance have developed their own understanding of it. Governance and Decisions. To be more precise, project management governance.

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2017 Project Management Trends To Watch

Girl's Guide to PM

This time last year I reviewed the trends in social and collaborative technology in the project management space: some of my predictions had come to nothing and it was interesting to look backward and hold myself accountable for what I said would happen. This year I’m looking forward into 2017 to highlight some of the project management trends I think it is worth watching out for. The APM has already made huge inroads to gaining Chartered status for Project Managers.

2017 229

Kingspan Insulation Enables Growth with Successful Product Portfolio Governance

Arras People

If your organisation does not have effective product portfolio governance, growth can quickly become overwhelming and lead you into making inaccurate decisions. Kingspan Insulation knows this struggle all too well, but they conquered the challenge by adopting efficient product portfolio management. Risks can then be more closely monitored by senior management and stakeholders trust the data. How are you managing and adapting your NPD processes?

Kingspan Insulation Enables Growth with Successful Product Portfolio Governance

Arras People

If your organisation does not have effective product portfolio governance, growth can quickly become overwhelming and lead you into making inaccurate decisions. Kingspan Insulation knows this struggle all too well, but they conquered the challenge by adopting efficient product portfolio management. Risks can then be more closely monitored by senior management and stakeholders trust the data. How are you managing and adapting your NPD processes?

Your Basic Guide to IT Project Governance Framework

Project-Management.pm

The process won’t even work unless there is manpower involved, as well as methodologies and standards implemented for projects to be delivered successfully. IT project governance framework has since been the answer to this equation, but people seemed not to fully grasp its function. This article tackles the importance and significance of IT Project Governance Framework and its impact on the projects in the organization. This is one of the purposes of project governance.

Project managers, just say no!

Ron Rosenhead

But use what is in project management system and your people skills. Over the last 18 months I have seen more and more pressure placed on project managers. There is a huge demand from senior managers and stakeholder and clients to deliver quicker, with the same level of quality and of course, on budget! I have seen some pretty stressed project managers and they have expressed it to me in many ways; some direct others not so. Is there anything a project manager can do?

2017 214

The Magic 7 Project Portfolio Management Process Steps

Project-Management.pm

Countless business articles have provided you viable information regarding project portfolio management , accompanied by its objective, the roles of the portfolio manager, and the benefits of the project portfolio management as a whole. But how does one exactly execute project portfolio management? Implementing project portfolio management takes more than just assessment, evaluation, and tracking. Project Portfolio Management Process Steps : #5 – Balance is Key.

2017 94

What Can a Project Manager Do Next? The Project Manager Career Ladder

Project Bliss

Have you ever wondered what career path could be next on the project manager career ladder? There are many possible options where you can apply the valuable skills you’ve honed as a project manager. I previously wrote about the different career paths that can lead to project management. And a project manager role can be fulfilling and interesting. Options on the Project Manager Career Ladder. Project Manager. Program Manager. Portfolio Manager.

2017 198

How to Keep Your Projects On-Time and On-Budget

Arras People

The simple truth is that organisations can avoid these issues by implementing and enhancing their project controls with industry best practices for project management. To put it simply, project controls encompass the people, processes and tools used to plan, manage and mitigate cost and schedule issues and any risk events that may impact a project. companies and government agencies an estimated $145 billion per year!

Budget 235

Project Manager Roles and Responsibilities: What does a PM Really Do?

Project Bliss

The job title of “project manager” is pretty common these days. But project manager roles and responsibilities can be pretty vague if you’re not already familiar with them. I know this firsthand, just by watching reactions when I tell someone I’m a project manager. When I took my first job as a project manager, my mother asked what I do. The title of Project Manager was unfamiliar to my mother. What a Project Manager Really Does.

2017 196

Managing Your First Strategic Initiative

Arras People

Strategic initiatives aren’t the same as typical projects—they tend to be considerably more complex and at times have hands on involvement from the top-level of management in the business. For other projects like the rolling out of new employment contracts some of the stakeholders at a management level will be sensitive and be more engaged. Stakeholder Management. In addition, there are also governance functions—risk management, legal, etc.—that

Risk Management in Five Easy Pieces, with Apologies to Jack

Herding Cats

Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management. Risk management is essential to the success of any significant project. The emerging risks that can be identified early in the project that impact the project later are often termed “known unknowns.” These risks can be mitigated with a good risk management process. Hope must be replaced with a risk tolerant plan.

2017 37

Big Data and Risk Management

Brad Egeland

In fact, the IDC revealed that global data would increase from 23ZB in 2017 to 174 Zettabytes by 2025. Furthermore, big data is an essential and powerful risk management tool. These interactions offer an excellent opportunity to obtain organizational risk insight, which facilitates the reduction and assessment of threats. This means that in case you are utilizing big data in managing risk, you may not be utilizing all that information to benefit your company.

Risk 109

How effective is your benefits management framework?

Kiron Bondale

Benefits management, like project risk management, is practiced poorly by most organizations. While project intake processes usually require some articulation of expected benefits, few companies effectively monitor and control the realization of those benefits over the life of a project and beyond. So what are key elements of a holistic benefits management framework? This analysis should focus on assumptions and risks impacting benefits realization.

2017 139

The 30 Most Popular Project Management Articles from 2017

MavenLink

Project management is one of the most rapidly growing fields globally, because of its highly valuable application towards strategic business goal attainment. As a result, some of the most widely recognized technology and business publications are placing more focus on project management. So where did many of the business and technology executives and professionals frequent to find the top content of 2017? 8 common project management mistakes — and how to avoid them (CIO).

2017 62

The Calm Before the Project Management Storm

Arras People

There comes a time when you’ve been working in and around project management for a while and you take a sit back and just reflect for a while. Here’s Steve in this guest post, reflecting on project management and giving us all a wake up call (no pun intended!). So now we have to see what happens with: Our Government. If you do risk management then some or all of the above will be factors which will affect our daily lives.

2017 150

Project Status Reporting – 6 Key Considerations

Project Health Check

We’ve said it before and we’ll say it again, Project Managers (PMs) live and die by the Plan. The entire purpose of the Start-up Phase of a Project is to produce a comprehensive Plan for the Project; consisting of an integrated Performance Measurement Baseline (Time, Cost, Scope) and an associated Project Management Plan to monitor and control it. So far so good; but when an organisation is orchestrating its status reporting process, what does it need to consider?

2017 192

Accountability on a Agile Software Development in the Presence of Governance

Herding Cats

Self-Organizing is a powerful process. So for projects that spend other people's money in the presence of uncertainty - Governance is a means to establish those shared principles. Governance is about Decision Rights. You don't need governance, a Product Roadmap, and Release Plan. But if you're on a team that gets its funding outside the team, then there is likely a governance process in place for how to spend that money.

What is the Program Management Improvement and Accountability Act?

Moira Alexander

PMI's Pulse of the Profession report shows "only 64 percent of government strategic initiatives ever meet their goals and business intent -- and that government entities waste $101 million for every $1 billion spent on project and programs.". To address this widespread and costly problem, on December 14, 2016, President Barack Obama signed bill S.1550 -- the Program Management Improvement and Accountability Act of 2015 (PMIAA) into law.

2017 130

Your Ultimate Guide To Portfolio Management Tools

Project-Management.pm

Large projects call for complex processes and the need for more management procedures. When you tackle larger and more complex projects, the following management procedures need to be up to date and these are aided by tools, methodologies , and strategies. These challenges and issues are mitigated or contained by the following portfolio management tools that cater to projects to be more productive and capable to deliver it on time. Portfolio Management Tools.

2017 103

How to connect business strategy with project management

Moira Alexander

To align business goals with project management (PM), leaders from the enterprise project management office (EMPO) or project management office (PMO) need to be involved in strategic planning sessions alongside senior-level management. Suresh Srinivasan, CTO at NYU Langone Medical Center , tells CIO, within the NYU IT department there are two key components that link the business strategy and project management.

2017 144

The #1 Challenge in Project Management (According to the Experts)

MavenLink

Project management is a complex practice that continues to challenge even the most sophisticated of companies and experts. We wanted to identify the #1 challenge shared by project management professionals to better help others struggling in the field. The first step was to join forces with Aberdeen to release the recent report, “ 2017 Project Management Software Trends. From your experience, what is the #1 challenge in project management? Project Management

2017 100

What is Project Portfolio Management : The Basics

Project-Management.pm

What is Portfolio Management? It’s one of those questions that can be really complicated when someone is not really that familiar with project or portfolio management. And what is project portfolio management being one of the questions that needs further understanding. Portfolios are thus born to organize and prioritize projects and govern the resources and team within each of them. This is the outer layer of what is project portfolio management.

2017 111

Risk Management: PMP Study Guide (PMBOK 6th Edition)

ExamsPM

Project Risk Management includes all the processes involved in risk identification, regulation, and mitigation on a project. The objective is to increase the likelihood of positive risks (opportunities) and decrease the likelihood of negative risks (threats). Risk factors – When looking at risks, one should determine. The anticipated frequency of risk events from the source (how often). Project manager’s role –.

2017 38

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 2, 2017.

Risk 35

Inspiring Women in Project Management: Karen Chovan

Girl's Guide to PM

Today I’m interviewing Karen Chovan, MASc, PEng, PMP, who has dedicated her career to helping others deliver clean, lean and green approaches to project and programme management. She’s inspired a ton of businesses to shake up how they manage their projects. On the project management side, you’ll often see many female project managers involved with managing the environmental assessment and regulatory processes and supplementary programs for monitoring performance and oversight.

2017 178

Increasing the Probability of Project Success

Herding Cats

This means having a set of Principles, Process, and Practices to test the suggestion against. These Five Immutable principles are time phased into Processes that provide answers to the Five Principles. and the connections between each Process are made to form a Closed Loop control systems needed to manage any project. With some details for each process area. To support these Principles and Processes, a set of Practices are needed.

2017 69

Preventing Kickbacks to Those with the Power to Purchase

Project Risk Coach

He is the author of The Little Book of Local Government Fraud Prevention and Preparation of Financial Statements & Compilation Engagements. Last week, Harry and I were running, and he told me about his procurement risk blog series. Since I am a fraud prevention guy, we began discussing the risk of vendor kickbacks to those with the power to purchase. Later, Sleeze sends inflated invoices directly to Acme’s purchasing manager, and he gladly approves them.

2017 164

Project Start-Up: The Plan for a Plan

Project Health Check

Du ring the Project Start-up and planning phase, projects will execute detailed planning processes to produce a Performance Measurement Baseline of Cost/Schedule/Scope and an associated Project Management Plan. Here is where we need a Plan-For-A-Plan, and this is where having a process asset template can be a real help.

2017 177

The 10 Project Portfolio Management KPI To Adopt

Project-Management.pm

These metrics are meant to assist managers and their teams to gain a chance of the project success or an expected ROI benefit. Project portfolio management KPI are helpful methods or tools in ensuring that projects are aligned to the business objectives or that they provide value or return once the delivery is finished. Project Portfolio Management KPI. Project portfolio management KPI are not equal—they can work on one organization, but not on the other.

2017 95

The Case for Multiple Project Management Methodologies

LiquidPlanner

A multiple-methodology approach to project management may lead to happier project teams, according to a new report by LiquidPlanner. The 2017 State of Project Management in Manufacturing report found that 74 percent of the respondents who said they were highly satisfied with their existing project management methodology actually used a combination of methodologies. Believe it or not, the PMO doesn’t create a new template or a new process out of sadistic pleasure.

2017 88

Getting To Know The Objectives Of Portfolio Management

Project-Management.pm

Portfolio management has so many advantages. From project success to reaching the business objectives, portfolio management is a key player for organizations. But what does portfolio management want to achieve? Sure, you have all the advantages and functions, but why does portfolio management exist in the first place? The objectives of portfolio management are far and wide, but they basically fall into a singular logic. Portfolio Management

2017 120

How to Talk About Estimates

Herding Cats

The best starting point for determining the NEEDED precision and accuracy is to determine the Value at Risk. . If I'm risking two weeks of work for the Scrum team of 5 people it's a much different need from the risk of a $10B manned spaceflight program being supported to congress for budget authorization. . IT Risk Management. What is an estimate?

Portfolio Management Best Practices : Doing the Right Way

Project-Management.pm

Imagine this scenario: you are a president of a particular project management division under a certain company. Why do these projects still end up into ruin even portfolio management is implemented? Such discipline is supposed to help organizations identify redundant projects and minimize risks, but it’s the same vicious cycle where projects become obsolete. It is still expected that you will do your part— that means using portfolio management to its full potential.

2017 93

Understanding the Roles of the Project Portfolio Manager

Project-Management.pm

Management is very important within any organization. The management is also responsible for planning, executing, and finalizing projects. It is at the very top of the governance hierarchy; each process involved in a project consists of management. With varying management comes its own respective managers. In Focus: Project Portfolio and Project Portfolio Manager. The Roles of the Project Portfolio Manager. Portfolio Management

2017 95

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. Risk a Feelings,” George F.

2012 33

Benefits of Project Portfolio Management : A Competitive Advantage

Project-Management.pm

Making small things bigger through methodologies is one of the prime adages of project portfolio management. Considered to be the answer to the woes of managers who are lost in the sea of too many projects, project portfolio management offers a lot of benefits that are great contributors in a company’s structure. These benefits of project portfolio management need work, albeit it’s a valuable adversary in project wars. Portfolio Strategic Management.

2017 89

Best project management software

Binfire

What is the best project management software for your team and your project? Is there a project management app that fits everybody’s requirements? The short answer is no, depending on industry, team size, project complexity, team’s experience and team size the requirements for project management software change. So how do you choose the best project management software for your team? Is it the first time we are using project management software?

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

This quote demonstrates a lack of understanding of making decisions in the presence of uncertainty and the processes and events that create uncertainty. There is naturally occurring variability from uncontrolled processes. 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.