Expert insights. Personalized for you.
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. Otherwise, people will be confused by your risk management efforts. It is no wonder that there is so much confusion about the meaning of risk. Many credible sources provide conflicting definitions. MORE
Looking for ways to improve your project success? People matter more than technology and processes. However, project managers rarely choose their teams. Let's talk about how to deal with pre-assigned project resources. Are you working in an organization where your project resources are preassigned? MORE
Imagine a project manager that focuses primarily on identifying and managing project threats and very little on opportunities. This one-sided mindset can be costly. The best project managers know how to exploit and enhance opportunities. What is a Project Opportunity? MORE
I've been managing projects and programs for more than 20 years. I've seen a little bit of everything. I've also had the joy and the pain of implementing three Project Management Offices (PMOs), two in Information Technology Departments and one Enterprise PMO. MORE
What would you do if all hell breaks loose in a critical company project that you are managing? You lose two of your best team members. Your budget is shot. A key stakeholder is breathing down your neck. Behind schedule by four weeks. You haven't slept well in two weeks. And you feel like throwing in the towel. Taking on Risky Projects Some projects are more risky than others. A project sponsor sees an opportunity. It's a stretch and he knows it, but he wants to try anyway. MORE
Project managers spend a large part of each day communicating—facilitating meetings, emailing stakeholders, responding to texts, writing reports, and having one-on-one conversations. We are so busy, we rarely take the time to improve the effectiveness of our communication. MORE
LAST UPDATED ON DECEMBER 14, 2020, BY HARRY HALL THIS ARTICLE CONTAINS AFFILIATE LINKS. WE MAY EARN A COMMISSION IF YOU CLICK A LINK AND MAKE A PURCHASE. IT DOES NOT COST YOU EXTRA. THANKS FOR YOUR SUPPORT! Are you confused about the PMI-RMP exam? Not sure what to study? MORE
Ask 10 different risk management experts to define emerging risks, and you will likely receive different points of view. In this article, let's define emerging risks, discuss ways to identify them, and look at different ways to manage these risks. What are Emerging Risks? MORE
When is risk exposure greatest in a project? In the beginning, in the middle, or at the end of the project? It's actually highest in the beginning. Let's look at how to reduce risk exposure early in your projects. Why Risk Exposure Is Greatest in the Beginning So, why is your risk exposure greatest in the beginning? Project managers have the least amount of information. This is when uncertainty is greatest. MORE
All project managers face problems. Some big, some small. Some easy, some complex. In this articles, let's look at 7 steps to better problem solving. What are your most significant project problems? Communication issues. Changing requirements. Lack of clear goals. Insufficient budget. Scope creep. MORE
Ninety percent of a project manager’s job is communication. And one of the most important things to communicate is your risks. How do you communicate risks? Communicating Project Risks 1. Understand Your Stakeholder Needs and Preferences It all starts with your stakeholder. MORE
One of my popular blog posts is 40 Reasons PMOs Fail. In this article, we go a step further. I highlight 10 of the 40 PMO problems and provide ways to manage them. 10 PMO Problems and Solutions 1. No project sponsor or project charter for the implementation of the PMO. MORE
If you are looking for a great way to engage your key stakeholders and identify project risks, perform a SWOT Analysis. Project managers or other facilitators can use this powerful tool to identify strengths and weaknesses. Furthermore, strengths may give rise to opportunities and weaknesses may lead to threats. Let's look at how to perform a SWOT Analysis. SWOT Example. What is SWOT? S Strengths. MORE
Project managers are faced with numerous decisions. And many times, you need to engage your project team in reaching project decisions. Voting may be used to quickly make a decision. A decision is reached when the largest block of individuals vote for an option is called: A. Majority vote B. MORE
Most of us have personal and career goals. Our ability to achieve those goals is dependent on our risk management skills, that is our ability to manage opportunities and threats. We seek to make good things happen and to eliminate or reduce the bad things. Through the years, I have captured my favorite quotes related to the art and science of risk management. I hope you enjoy the insights as well as the humor. MORE
Why are many project managers confused over risks? Why do some project managers include positive risks in risk management and others do not? Let's clarify what we mean by the term risk. Risk is a Choice Merriam-Webster defines risk as “the possibility of loss or injury: peril.” MORE
Mike was a functional project manager in an organization where I managed a PMO. He was winsome and a hard worker. But his projects were trending in the wrong direction and his manager was not happy with Mike's performance. MORE
Project management is "the application of knowledge, skills, tools, and techniques to project activities to meet the project objectives" (PMBOK—6th Edition). So, how does project risk management fit into the world of project management? Hand in Glove Relationship Project risk management fits in project management like a hand in glove. It empowers the project manager to achieve the project objectives. Good risk management always begins with the project objectives as a foundation. MORE
Bad project managers create project cultures filled with stress, confusion, and little progress. Unfortunately, many of these individuals are not aware of their behaviors. Photo courtesy of Adobe Stock Let's run through a list of eight behaviors that all bad project managers have in common. Furthermore, let's talk about how to remedy these behaviors. Correct these Project Management Behaviors. MORE
Project managers are pressured to deliver projects quickly. Sponsors think their project managers are magicians. And in a way, we are. Let us explore ways to compress project schedules and manage the associated risks. MORE
In today's article, I'll test your understanding of risk attitude. We'll also explore different risk attitudes and how they can affect risk evaluations. Project managers should seek to understand the risk attitudes of key stakeholders because: A. MORE
Years ago, I had a great job managing about 50 Information Technology professionals. However, I wanted to become a project manager. Therefore, I made a difficult decision to change companies and jobs. Consequently, I needed ways to learn project management quickly. MORE
According to PMI, "47% of unsuccessful projects fail to meet goals due to poor requirements management." Requirements are a pretty big deal. Let's look at five things to start and five things to stop in requirements management. 5 Things to Start Identify and engage appropriate stakeholders. Project managers who work in a matrix environment should seek resource approval from stakeholder's managers early in the project. Ensure the requested software features will be used. MORE
Why do so many projects come in late and over budget? Poor estimates are often a major factor in these projects. So, let's look at 7 ways to improve project estimates. Define the project work One of the top reasons for poor estimates is poor project definition. Project teams fail to identify significant work packages and associated project activities. Of course, these items are discovered later in the projects. How can project managers help overcome this problem? MORE
How is it that some coaches, leaders, and yes even project managers can take a rag-tag group and shape them into a high-performing team? How do these individuals secure the physical resources? It’s not an accident. It starts with a resource management plan. What is a Resource Management Plan? The resource management plan is "the component of the project management plan that provides guidance on how project resources should be categorized, allocated, managed, and released. MORE
Do you have your PMP® certification, but you're thinking about obtaining another Project Management Institute (PMI) certification? PMI offers eight certifications. Let's compare the Project Management Professional (PMP®) and the PMI Risk Management Professional (PMI-RMP®) certifications. MORE
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 develop a project risk management plan. As a bonus, I will provide a risk management plan example and a risk management plan template. Here are some questions that we should answer in our plan: How will you identify risks? Who will be involved? MORE
I see a common problem when reviewing project charters. The goals are activity-oriented, rather than results-oriented. And this can lead to misunderstandings about what the project team needs to achieve. Let's look at how to write results-oriented goals. MORE
Steven Covey introduced the concept of Quadrant II activities—working on things that are important but are not urgent. Planning is a powerful Quadrant II activity that can save you time and energy. Think about the future so you can make better decisions in the present. Let’s talk about how to plan your risk management. First Things First Some people think of risk management plans in the wrong way. Risk management plans are not a list of risks and how you plan to respond. MORE
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. And it can be used to write opportunities as well as threats. If-Then Risk Statements Write Opportunity Statements Opportunities are events and conditions, that if they occur, have a positive impact on your project objectives (e.g., schedule, scope, budget, quality). MORE
Successful companies know a little secret – making your dreams a reality requires alignment between your strategies and your projects. It's not a matter of just working harder; success requires doing the right things at the right time with the right people. MORE
Project managers constantly think about risks, both threats and opportunities. What if the requirements are late? What if the testing environment becomes unstable? How can we exploit the design skills of our developers? Let’s consider a simple but powerful tool to capture and manage your risks—the Risk Register. What to Include in a Risk Register. The Risk Register is simply a list of risk-related information including but not limited to: Risk Description. MORE
This is a guest article by Dana Brownlee from professionalismmatters.com. One of the most common questions I get when speaking to groups is “How do you deliver a difficult message to/push back on senior leaders – particularly the difficult ones?” I certainly understand the popularity of the question because that’s a sticky situation for sure. MORE
Are you guilty of using project management jargon and acronyms? Do your team members understand what you are saying? If not, perhaps you have fallen under the curse of project management knowledge. Can I be painfully honest with you for a minute? What I am about to say may not feel good. MORE
Project Risk Coach
JANUARY 11, 2021
Ask 10 different risk management experts to define emerging risks, and you will likely receive different points of view. In this article, let's define emerging risks, discuss ways to identify them, and look at different ways to manage these risks. What are Emerging Risks?
Project Risk Coach
JANUARY 4, 2021
All project managers face problems. Some big, some small. Some easy, some complex. In this articles, let's look at 7 steps to better problem solving. What are your most significant project problems? Communication issues. Changing requirements. Lack of clear goals. Insufficient budget. Scope creep.
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Project Risk Coach
JANUARY 18, 2021
One of my popular blog posts is 40 Reasons PMOs Fail. In this article, we go a step further. I highlight 10 of the 40 PMO problems and provide ways to manage them. 10 PMO Problems and Solutions 1. No project sponsor or project charter for the implementation of the PMO.
Project Risk Coach
AUGUST 24, 2020
Mike was a functional project manager in an organization where I managed a PMO. He was winsome and a hard worker. But his projects were trending in the wrong direction and his manager was not happy with Mike's performance.
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Does your analytics solution work with your current tech stack and DevOps practices? If not, any update to the analytics could increase deployment complexity and become difficult to maintain. Learn the 5 elements of a DevOps-friendly embedded analytics solution.
Project Risk Coach
NOVEMBER 9, 2020
Project managers are pressured to deliver projects quickly. Sponsors think their project managers are magicians. And in a way, we are. Let us explore ways to compress project schedules and manage the associated risks.
Project Risk Coach
NOVEMBER 23, 2020
I see a common problem when reviewing project charters. The goals are activity-oriented, rather than results-oriented. And this can lead to misunderstandings about what the project team needs to achieve. Let's look at how to write results-oriented goals.
Project Risk Coach
AUGUST 10, 2020
Ninety percent of a project manager’s job is communication. And one of the most important things to communicate is your risks. How do you communicate risks? Communicating Project Risks 1. Understand Your Stakeholder Needs and Preferences It all starts with your stakeholder.
Project Risk Coach
FEBRUARY 10, 2020
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 develop a project risk management plan. As a bonus, I will provide a risk management plan example and a risk management plan template. Here are some questions that we should answer in our plan: How will you identify risks? Who will be involved?
Project Risk Coach
NOVEMBER 2, 2020
In today's article, I'll test your understanding of risk attitude. We'll also explore different risk attitudes and how they can affect risk evaluations. Project managers should seek to understand the risk attitudes of key stakeholders because: A.
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Embedding dashboards and reports aren’t enough. Futureproof your application by offering instant, actionable insights that will give you and your customers a competitive advantage.
Project Risk Coach
OCTOBER 12, 2020
I've been managing projects and programs for more than 20 years. I've seen a little bit of everything. I've also had the joy and the pain of implementing three Project Management Offices (PMOs), two in Information Technology Departments and one Enterprise PMO.
Project Risk Coach
OCTOBER 5, 2020
Why are many project managers confused over risks? Why do some project managers include positive risks in risk management and others do not? Let's clarify what we mean by the term risk. Risk is a Choice Merriam-Webster defines risk as “the possibility of loss or injury: peril.”
Project Risk Coach
DECEMBER 14, 2020
LAST UPDATED ON DECEMBER 14, 2020, BY HARRY HALL THIS ARTICLE CONTAINS AFFILIATE LINKS. WE MAY EARN A COMMISSION IF YOU CLICK A LINK AND MAKE A PURCHASE. IT DOES NOT COST YOU EXTRA. THANKS FOR YOUR SUPPORT! Are you confused about the PMI-RMP exam? Not sure what to study?
Project Risk Coach
DECEMBER 14, 2020
Successful companies know a little secret – making your dreams a reality requires alignment between your strategies and your projects. It's not a matter of just working harder; success requires doing the right things at the right time with the right people.
Advertisement
No one designs bad dashboards and reports on purpose. So why do so many applications have terrible analytics experiences? Download this ebook for secrets to creating dashboards and reports your users will love.
Project Risk Coach
SEPTEMBER 28, 2020
Do you have your PMP® certification, but you're thinking about obtaining another Project Management Institute (PMI) certification? PMI offers eight certifications. Let's compare the Project Management Professional (PMP®) and the PMI Risk Management Professional (PMI-RMP®) certifications.
Project Risk Coach
SEPTEMBER 8, 2020
Imagine a project manager that focuses primarily on identifying and managing project threats and very little on opportunities. This one-sided mindset can be costly. The best project managers know how to exploit and enhance opportunities. What is a Project Opportunity?
Project Risk Coach
NOVEMBER 16, 2020
Project managers spend a large part of each day communicating—facilitating meetings, emailing stakeholders, responding to texts, writing reports, and having one-on-one conversations. We are so busy, we rarely take the time to improve the effectiveness of our communication.
Project Risk Coach
OCTOBER 19, 2020
Looking for ways to improve your project success? People matter more than technology and processes. However, project managers rarely choose their teams. Let's talk about how to deal with pre-assigned project resources. Are you working in an organization where your project resources are preassigned?
Advertisement
If you are looking to modernize your application to improve competitiveness, then one of the quickest wins you can have is to embed sophisticated analytics that will wow your existing and prospective customers.
Project Risk Coach
FEBRUARY 17, 2020
Steven Covey introduced the concept of Quadrant II activities—working on things that are important but are not urgent. Planning is a powerful Quadrant II activity that can save you time and energy. Think about the future so you can make better decisions in the present. Let’s talk about how to plan your risk management. First Things First Some people think of risk management plans in the wrong way. Risk management plans are not a list of risks and how you plan to respond.
Project Risk Coach
OCTOBER 26, 2020
Years ago, I had a great job managing about 50 Information Technology professionals. However, I wanted to become a project manager. Therefore, I made a difficult decision to change companies and jobs. Consequently, I needed ways to learn project management quickly.
Project Risk Coach
JULY 29, 2019
What would you do if all hell breaks loose in a critical company project that you are managing? You lose two of your best team members. Your budget is shot. A key stakeholder is breathing down your neck. Behind schedule by four weeks. You haven't slept well in two weeks. And you feel like throwing in the towel. Taking on Risky Projects Some projects are more risky than others. A project sponsor sees an opportunity. It's a stretch and he knows it, but he wants to try anyway.
Project Risk Coach
SEPTEMBER 14, 2020
Project managers are faced with numerous decisions. And many times, you need to engage your project team in reaching project decisions. Voting may be used to quickly make a decision. A decision is reached when the largest block of individuals vote for an option is called: A. Majority vote B.
Advertisement
Selecting the right solution for your embedded analytics is crucial to the success of your application. But with so many solutions and vendors, how do you make this critical selection? Learn about the different approaches to analytics and the pros and cons for each.
Project Risk Coach
JULY 1, 2019
If you are looking for a great way to engage your key stakeholders and identify project risks, perform a SWOT Analysis. Project managers or other facilitators can use this powerful tool to identify strengths and weaknesses. Furthermore, strengths may give rise to opportunities and weaknesses may lead to threats. Let's look at how to perform a SWOT Analysis. SWOT Example. What is SWOT? S Strengths.
Project Risk Coach
JANUARY 14, 2019
Project managers constantly think about risks, both threats and opportunities. What if the requirements are late? What if the testing environment becomes unstable? How can we exploit the design skills of our developers? Let’s consider a simple but powerful tool to capture and manage your risks—the Risk Register. What to Include in a Risk Register. The Risk Register is simply a list of risk-related information including but not limited to: Risk Description.
Project Risk Coach
APRIL 22, 2019
This is a guest article by Dana Brownlee from professionalismmatters.com. One of the most common questions I get when speaking to groups is “How do you deliver a difficult message to/push back on senior leaders – particularly the difficult ones?” I certainly understand the popularity of the question because that’s a sticky situation for sure.
Project Risk Coach
OCTOBER 8, 2019
Project management is "the application of knowledge, skills, tools, and techniques to project activities to meet the project objectives" (PMBOK—6th Edition). So, how does project risk management fit into the world of project management? Hand in Glove Relationship Project risk management fits in project management like a hand in glove. It empowers the project manager to achieve the project objectives. Good risk management always begins with the project objectives as a foundation.
Advertisement
How can project planning that stretches over months or years remain relevant and account for new ad-hoc activities that arrive every day?
Project Risk Coach
JANUARY 21, 2019
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. Otherwise, people will be confused by your risk management efforts. It is no wonder that there is so much confusion about the meaning of risk. Many credible sources provide conflicting definitions.
Project Risk Coach
APRIL 8, 2019
Most of us have personal and career goals. Our ability to achieve those goals is dependent on our risk management skills, that is our ability to manage opportunities and threats. We seek to make good things happen and to eliminate or reduce the bad things. Through the years, I have captured my favorite quotes related to the art and science of risk management. I hope you enjoy the insights as well as the humor.
Project Risk Coach
MAY 13, 2019
According to PMI, "47% of unsuccessful projects fail to meet goals due to poor requirements management." Requirements are a pretty big deal. Let's look at five things to start and five things to stop in requirements management. 5 Things to Start Identify and engage appropriate stakeholders. Project managers who work in a matrix environment should seek resource approval from stakeholder's managers early in the project. Ensure the requested software features will be used.
Project Risk Coach
OCTOBER 7, 2019
Bad project managers create project cultures filled with stress, confusion, and little progress. Unfortunately, many of these individuals are not aware of their behaviors. Photo courtesy of Adobe Stock Let's run through a list of eight behaviors that all bad project managers have in common. Furthermore, let's talk about how to remedy these behaviors. Correct these Project Management Behaviors.
Speaker: Chris Von Simson & Nat Venkataraman
Can your users get the data and analytics they need without leaving your application? Watch this webinar with Chris von Simson of Dresner Advisory Services as he shares why user enablement has emerged as the theme in today’s embedded analytics landscape.
Project Risk Coach
NOVEMBER 18, 2019
How is it that some coaches, leaders, and yes even project managers can take a rag-tag group and shape them into a high-performing team? How do these individuals secure the physical resources? It’s not an accident. It starts with a resource management plan. What is a Resource Management Plan? The resource management plan is "the component of the project management plan that provides guidance on how project resources should be categorized, allocated, managed, and released.
Project Risk Coach
JULY 22, 2019
When is risk exposure greatest in a project? In the beginning, in the middle, or at the end of the project? It's actually highest in the beginning. Let's look at how to reduce risk exposure early in your projects. Why Risk Exposure Is Greatest in the Beginning So, why is your risk exposure greatest in the beginning? Project managers have the least amount of information. This is when uncertainty is greatest.
Project Risk Coach
JUNE 22, 2020
Why do so many projects come in late and over budget? Poor estimates are often a major factor in these projects. So, let's look at 7 ways to improve project estimates. Define the project work One of the top reasons for poor estimates is poor project definition. Project teams fail to identify significant work packages and associated project activities. Of course, these items are discovered later in the projects. How can project managers help overcome this problem?
Project Risk Coach
JULY 8, 2019
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. And it can be used to write opportunities as well as threats. If-Then Risk Statements Write Opportunity Statements Opportunities are events and conditions, that if they occur, have a positive impact on your project objectives (e.g., schedule, scope, budget, quality).
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This eBook describes the process of managing the project budget and its associated costs.
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