What is Project Risk?

Project Risk Coach

If you say the word “risk” to ten people, each person may think of something different— insurance, threats, investments, bets, or potential loss. As we manage project teams, it's critical that you and your team members have a common understanding of what project risk means.

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How to Build and Use a Risk Register

Project Risk Coach

Project managers constantly think about risks, both threats and opportunities. Let’s consider a simple but powerful tool to capture and manage your risks—the Risk Register. What to Include in a Risk Register. ” Risk Owner. Probability Risk Rating.

2019 348

Change management helps when implementing risk responses

Kiron Bondale

A student in a project management class I taught shared the concern that it was very hard for her to get risk responses implemented. Acceptance is a risk response strategy, but project managers are not supposed to just report on accidents, they are expected to prevent them.

2019 271

IT Risk Management Strategies and Best Practices


It’s big business that’s involved in almost every sector of the economy, and therefore carries some major risks. Jennifer Bridges, PMP, shows you the importance of IT risk management in this short tutorial video. In Review – IT Risk Management Strategies and Best Practices.

2019 367

Predictive Analytics 101: Your Roadmap to Driving Key Product Decisions

Speaker: Sriram Parthasarathy

Why every application that fails to talk about the future is at risk of getting replaced. Predictive analytics is an increasingly common buzzword with many forms. It seems everyone has their own take on what it is and which best practices and business benefits apply.

How To Make 2019 A Successful Year for Your Projects

Girl's Guide to PM

Would you like to make 2019 a successful year for your projects? I asked people two questions: What should people managing projects be aware of as we go into 2019 to make 2019 their most successful year ever? What will you be doing in 2019 to have your most successful year ever?

2019 299

6 Tools and Techniques for Controlling Risks

Project Risk Coach

Changes in project risks are inevitable. As a project progresses, the probability and impact of current risks change, new risks emerge, and residual risks may increase or decrease. Susan, on the other hand, facilitated an early risk identification workshop.

Two doors: risk and decision managers

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, experience, history looking for a generality or integrating narrative Through the decision maker's door, entry is for the deductive thinker: visionary with a need to articulate specifics for the vision Risk Management

2019 204

Quantitative risk for the new guy on the street

Musings on Project Management

Repetition and review are good--Malcom Gladwell says it takes 10,000 hours to be expert at anything--so here's a few words that will take a few minutes on three important quantitative concepts every risk manager should know: Concept 1: Centrality Most phenomenon of interest to projects, particularly naturally occurring phenomenon, tend to cluster around a central value, given enough samples. risk Risk Management

2019 196

Risk Response Strategy (Definitive Guide with Examples)

PM Basics

How to select a Risk Response Strategy? Here you will find examples of risk responses for both threats and opportunities. But there’s a catch: You may have a limited mindset in regards to dealing with risks. Project Risk Management Overview. What Can You Do With a Risk?

2019 126

A Quick Guide to User Story Mapping


For example, if you attach too much detail to the user story then you run the risk of distracting the team. It can create undue risks , such as missing a crucial part of the conversation, as if the signal is lost in the noise.

2019 352

Risk Management Plan - What is the Process?

Brad Egeland

An ideal way to ensure this is by having a risk management plan so that you can avoid a data breach, which will ruin your IT supply chain up and down. Risk Management Planning What is the Risk Management Process? ​ Having risk management plans guarantees your data safety.

2019 115

7 Secrets to Successful Project Manager/Team Collaboration

Girl's Guide to PM

However, at times, resource requirements, blocks, and other issues may put the team’s time on the project at risk. The updates will include the risks identified by the team associated with the project, to help the wider team define actions to address these project issues.

2019 371

Tackling Project Management Job Titles

Arras People

Looking through the data from the 2019 Arras People Project Management Benchmark Report (2019 PMBR) it really reinforces the fact that project management is so richly diverse when viewed across the many organisations and industries where these important skills are used.

2019 309

What Is Stakeholder Theory?


Consider potential risks and opportunities with each stakeholder. A stakeholder is anyone who has an interest in a project, business or organization. In project management terms, a stakeholder is an individual or group that will be impacted by the outcome of the project.

2019 405

Business Agility: What Is It & Why Is It Important?


If the viability of your business depends on the marketplace, and they mostly all do, then you must know the risks inherent in trying to stay on a straight path across a moving landscape. Businesses love nothing more than stability.

2019 355

What Is Business Impact Analysis & Why Is It Important?


If a business isn’t prepared for those responses, then they’re taking a great risk. It’s another arrow in the quiver to battle risk. The list of possibilities is long, but it’s key to explore them thoroughly in order to best assess risk.

2019 389

What Is Product Management?


Without a methodology and proper tools to manage the many elements that must be tracked throughout the life cycle of the product, the risk of failure is greatly increased.

2019 403

7 Uncomfortable Truths for Project Managers


Famously, software engineer and author Tim Lister said that: “Risk management is how adults manage projects.” Plan our work to accommodate risks and contingencies. Project Managers are among the most positive of people.

2019 428

Taking Action After a Project Management Symposium

Project Risk Coach

Click to Tweet. […] The post Taking Action After a Project Management Symposium appeared first on Project Risk Coach. You've just invested your precious time in a project management symposium, conference, or training class.

2019 272

Against the Gods -- a review

Musings on Project Management

"Against the Gods, The remarkable story of Risk" by Peter L. Perhaps the best general history of risk -- and presentation of the major concepts of risk -- that is understandable by all practitioners at any level. books Risk ManagementBernstein is an excellent read and ambitious premise well delivered. The content is presented in a general historical order in major sections by epoch. The first being from the.

2019 170

The Importance of Customer Development for Startups


This method reduces the risks inherent in a strategy centered around product development. Related: Free Risk Tracking Template. Is customer development important? The short answer is yes, of course! No business can survive without a loyal customer base that uses its product or service.

2019 344

Burndown Chart: What Is It & How Do I Use It?


If they don’t, then they’re risking the successful completion of the project. At times it feels like there’s never enough hours in the day to get everything done. Often, the powers that be want things done yesterday, even though it’s an impossibility. Their intent is clear: get it done fast.

2019 371

10 Step Risk Management Kick-off for Your Project

Online PM Courses

But one thing that can have a big effect on your ultimate success is how you approach risk management. So, we asked risk management expert, Keith Baxter, to offer his advice on a successful risk management kick-off. Keith is the founder of De-RISK […].

2019 114

Resource Management in Projects: The Ultimate Guide

Girl's Guide to PM

You might want to take this even further and document exactly how you are going to estimate how much time resources will be required for, how you are going to ‘win’ scarce resources, and what risks you might face around securing the resources. Projects are done by people.

2019 331

Business Change & Best Practice Needn’t Be Puzzling

Arras People

– M_o_R ® : If there is uncertainty , (which there normally is in every business), within one or more business functions (or jigsaw pieces) then this should be treated and managed as risk , using the M_o_R ® (Management of Risk) guidance.

2019 240

Songs for when you are in a project management state of mind

Kiron Bondale

The Gambler (Kenny Rogers): This would make a good level setting tune for a risk response workshop, especially for those who feel the glass is always half full. Project Management communications Risk management team building

2019 246

10 Essential Project Management Skills for Project Managers of 2019

nTask Blog

If you’re looking for a sure formula to success, acquiring and honing these skills should be one of your top priorities in 2019. Risk Management. Risks are inevitable, which is why essential project management skills and competencies encompasses elaborate risk management as well.

2019 96

How to Handle Chronic Complainers


Disaster,” someone who always sees ruin around every corner, know that they can act as the canary in the coal mine to alert you to potential risk. Related: Free Risk Tracking Template. And what they’re concerned about are risk on your projects.

2019 390

9 Great Excuses Not to Mature as a Project Manager

Project Risk Coach

Furthermore, let's up our game, serve others, and reach our greatest potential. […] The post 9 Great Excuses Not to Mature as a Project Manager appeared first on Project Risk Coach. If you are reading this it means that you're struggling to mature as a project manager.

2019 272

9 Essential Project Documents (With Templates)

Girl's Guide to PM

RAID stands for: Risks. Any outstanding risks, issues and actions at the point of closure. I picked up a project from someone else not that long ago and I was three months into my management of it before I realised there wasn’t a project charter.

2019 374

Cause & Effect and Product Risk

Tyner Blain

When deciding how to invest in your product, you need to take into account the risks that your investments will not return the outcomes you desire. This plan, even well articulated, has implicit risks which need to be explicit. Some risks we avoid and some we embrace.

2019 92

Loosen the coupling

Musings on Project Management

If two or more events are tightly coupled to a milestone -- meaning no slack -- then a slip of any event pushes the milestone, to wit: shift to the right And, the risk is exponential with the number of events: The risk of two events is the risk-squared (where risk is probability of. Risk Management scheduleLooking for schedule success? Loosen the coupling! Remember the "shift right" phenomenom in scheduling?

2019 185

Forecasting: The Secret Ingredient Your Team Needs in 2019


This article explains why forecasting is the secret ingredient that your team needs in 2019, and how you can use it to create a recipe for success. We thought we had it all planned.

2019 115

How to Stay Flexible as a Manager & Why It’s Important


How can we minimize risks?” And then, we also wanna know how can we minimize the risk? So, I know for myself, if I know that I have a plan in place to evaluate those risks and put a plan in place to handle them, makes me as a manager more flexible.

2019 195

A Complete Guide to RACI/RASCI Charts

Girl's Guide to PM

When you don’t document who is responsible for what, you risk: Decisions taking longer because no one is clear who will be having the final say. Working out who does what on your project can be a challenge. A RACI chart is a project management tool that helps you do exactly that.

2019 298

Strategic Planning in Business


Growing a new business is full of risk, but knowing where the business is going and how it’s going to get there is a way to mitigate that risk. Related: Free Risk Tracking Template. Businesses thrive on certainty, and yet, the future is never certain.

2019 368

How to Make a Disaster Recovery Plan


Related: IT Risk Management Strategies & Best Practices. It starts with identifying and prioritizing, taking into account risk, and making sure the plan is shared among all parties impacted.

2019 195

How to Prep for Vacation So Nothing Goes Wrong


You don’t want to block progress, but that also doesn’t mean you have to risk burnout by never taking a break to recharge your batteries. Do you resist taking a vacation because you’re scared that something will go wrong in your absence?

2019 238

What Are Your Strengths & Weaknesses? Ace This Interview Question


If you don’t, then you run the risk of resonating for the wrong reasons. You’ll reach a point in any job interview where you’ll be asked, “What are your strengths and weaknesses?” How do you respond—humorously? “My

2019 357