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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The Power of If-Then Risk Statements

Project Risk Coach

Have you thought about the use of this two-letter conjunction in risk management lately? Let's look at how to use the power of If-Then risk statements. IF is a simple word that can open up new doors to writing clear risk statements. 2=Planning Project Risk Management

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Feasibility and risk assessment guide

Musings on Project Management

A posting from Matthew Squair put me onto a nice one page pdf template for requirements feasibility and risk assessment. Requirements riskThe chart links compliance, achievability, and technical consequences.

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Risk Analysis — The Managing Up Secret Weapon

Project Risk Coach

Credit : gorodenkoff | iStockphoto One of my favorite suggestions for this unenviable predicament is using risk analysis. Indeed, I think risk analysis can be the secret weapon of managing up! 2=Planning Project Risk Management

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Driving Discovery and Experimentation in your Organization

Speaker: Teresa Torres, Product Discovery Coach, Product Talk, David Bland, Founder and CEO, Precoil, and Hope Gurion, Product Coach and Advisor, Fearless Product LLC

How to accept and mitigate risk. June 4, 2019 9:30 AM PDT, 12:30 PM EDT, 5:30 PM BSTIf you want to build what matters, you can't move forward blindly. But to make progress, you can't let things slow to a crawl while you focus resources on gathering data.

How to Select Your Risk Responses

Girl's Guide to PM

Risk management is one of the core knowledge areas for project managers. You’ve identified and assessed your project risks—both threats and opportunities. Now, you are planning your risk responses with your risk owners. Risk Response Strategies for Threats.

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7 Tips for Easily Improving Project Risk Management with templates

Girl's Guide to PM

Risk management is a staple skill of project managers. However, project risk management is something that many project managers find tricky. The theory is easy – implementing risk management successfully so that it is actually useful on the project is a little bit harder.

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"Open" risk management

Musings on Project Management

To be open Every text and paper I've read describes risk management like many other project processes: open, transparent, available to any on the project team. Risks are identified, evaluated, ranked, made subject to some form of risk reduction paradigm; and everyone is made aware. Risk ManagementOh, but if it only were! Most of us can handle the text book process. It's more will than capability But, on.

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Risk un-management

Musings on Project Management

Risk un-management? Perhaps the largest task within risk management, and requiring the greatest judgment, is "risk un-management" On any project there are going to be dozens, perhaps hundreds, of unmanaged risks. I doubt this is news to anyone, but these are, as a group, more numerous than those selected for the usual risk management paradigm. Risk Management

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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.

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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.

Risk Management Wisdom and Humor of the Ages

Project Risk Coach

Our ability to achieve those goals is dependent on our risk management skills, that is our ability to manage opportunities and threats. Through the years, I have captured my favorite quotes related to the art and science of risk management. Most of us have personal and career goals.

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Evaluating Risks Using Qualitative Risk Analysis

Project Risk Coach

Have you ever endured a project meeting where you spent hours evaluating risks? Today, let’s discuss the use of qualitative risk analysis to get you back on track. Qualitative Risk Analysis. What is Risk Evaluation? Quantitative Risk Analysis. Risk Rating.

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IT Risk Management Strategies and Best Practices

ProjectManager.com

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.

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.

Risk: the second thing you do

Musings on Project Management

Managing risk? Can you imagine there's risk to manage? Where in the course of events are you going to position slack so that it works to Risk ManagementHere's the second thing you do: Evaluate the slack. What's to evaluate? You might think the most important thing about slack is how much is there; what do I have to work with? Nope Whatever you've got, the most important thing is sequence and position.

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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?

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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

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Risk Assessment for Information Security

Brad Egeland

Risk assessment methods and programs should be key components of your security plan, as they guide your team in establishing a strong framework for compliance. ISO 27005 ISO 27005 is a framework that guides businesses towards effective risk management.

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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

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The first thing you do to reduce risk.

Musings on Project Management

The first thing you do to reduce risk. anything that inhibits propagation of effects) This is a concept from scheduling (Critical Chain by Goldratt; Risk Managementis: loosen the coupling between sources of effects. Create buffers; remove dependencies; install redundancy. This is a concept from System Engineering (buffers, dampers, redundancy; but also loose tolerances; fuses; barriers and walls.

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How to Perform a SWOT Analysis

Project Risk Coach

If you are looking for a great way to engage your key stakeholders and identify project risks, perform a SWOT Analysis. Up-side risks that may cause positive effects to our project objectives. These down-side risks may cause negative effects to our project objectives.

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Tracking a Risk

Project Smart

Every project carries some element of risk. Being able to deal effectively with these risks can be what makes or breaks a project in the end. The result of all risk management should be the ability to track a risk from beginning to end. Risk Management

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All Project Data is at Risk

Brad Egeland

Summary The bottom line here is all data is at risk. We must calculate it as a risk on every project we manage. Some involve important processes, but data that is only important to the organization so the risk is fairly minimal. But the bottom line is that it is all at risk.

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Big Data and Risk Management

Brad Egeland

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. Once your business uses big data in managing risk, you will get a comprehensive overview that assists you in structuring your financial revenue streams. Risk is virtually part of every company’s decision. The Big Data age is finally here.

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Staying Ahead of Business Risks

Brad Egeland

Sadly, such risks are the norm in the modern-day business world. Since risk is ever dynamic, with new dangers arising each day, it only makes sense to try and be steps ahead of these threats. The trick is to build a culture of risk management in your organization.

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What is Risk Tolerance? | Video

Online PM Courses

So, what is risk tolerance? The post What is Risk Tolerance? Project Management in Under 5 Project Risk ManagementNo one would tolerate a project that is too risky! 5-minute Video. Video appeared first on OnlinePMCourses.

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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.

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 […].

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Four Stages to Project Risk Removal

Project Smart

As a project progresses from an idea sketched on a white board to a preliminary plan and into a full-fledged project management plan with a schedule and all the bells and whistles, it will gather risks around it like moths gather around a light. Risk Management

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Top 10 Project Management Blogs to Follow In 2019

Taskque

In this article, you will learn about 10 most popular project management blogs that every project manager must read in 2019. It covers every aspect of project management from scheduling to risk management.

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3 Ways Your Team Makes Your Project More Risky

Project Risk Coach

Much of the time, risk management at the beginning of a project looks like getting the team in a room to review the whole project and work out what might be coming that could affect how the project proceeds. As the project progresses, more risks are identified, dutifully added and managed.

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10 Places to Get Free Project Management Templates

Girl's Guide to PM

The Infrastructure & Projects Authority (IPA) arranges and manages project assurance reviews for the UK governments’ complex and high risk projects. Note: These sources were reliable and correct as at 28 June 2019. You’ve got responsibility for a project.

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Managing the Risk Factor - Part 2

Project Smart

In Part 1 of this two-part series on managing risk factors, we began by looking at a high-level view of the risk management process by discussing risk avoidance and risk mitigation. Risk Management

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The Fundamental Goals of Risk Management

Brad Egeland

This boiled down to one single problem, their lack of a well-defined risk management program. If they did account for all the risks that their business faced they would have discovered that the growth of the digital camera industry posed a threat to their existence. This is why every business needs a risk management strategy in place, but not just any strategy. Ideally, it should outline your entire risk landscape and point out the best way of dealing with risky situations.

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3 Reasons Risk Management Often Doesn't Happen on the Project

Brad Egeland

From my 60 Second PM video series - 3 reasons risk planning doesn't happen. Risks are unknown and it's human nature to avoid or procrastinate the unknowns. But it's a very bad idea to do so

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Are You a Risk on Your Own Projects?

Brad Egeland

As project managers we try to be a value-added resource on our projects. We want to bring positives in everything we do. After all, the success of the project is ours to own, right? We succeed or we fail, and it’s our name that goes with it.

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Managing the Risk Factor - Part 1

Project Smart

No project in the history of managed projects has entered into existence without the presence of at least a few risks. The assigned project manager may have missed them or ignored them, but the risks were present. Risk Management

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Top Ten PMO Themes 2019

Strategy Execution | PMO Perspectives

2019 starts the conversation and the exploration of what analytics means and can do for our project organisations. Strategy Execution at PMO Conference 2019. Last week it was the fifth PMO Conference in London.

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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?