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.

How Poor Risk Management Is Hurting You

Project Risk Coach

Poor risk management is costly. Project managers are caught off guard by emerging risks. And these risks may turn into issues costing more time and money. We can identify risks early. Let's look at the cost of poor risk management through the life of Tom Whitley.

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Top 3 Essential Technical Project Manager Skills


In a world that’s becoming more technology driven, the role of the technical project manager – or TPM, as it’s come to be known – has established itself as a distinct subset of project management.

12 Wonderful Ways To Improve Your Risk Management

Project Risk Coach

How well did John use risk management to accomplish his goal? He and his team completed a project plan and identified project risks. He captured the risks in his risk register and periodically conducted risk reviews. Improving Risk Management.

2016 209

Risk Management Resources

Herding Cats

Risk Management is essential for development and production programs. Information about key project cost, (technical) performance, and schedule attributes is often uncertain or unknown until late in the program. Effective Risk Management 2 nd Edition , Edmund Conrow, AIAA, 2003.

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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.

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Why Use Project Management Software for IT Teams?

ProProfs Project Management

Managing risks as and when they are encountered? Risk Management. 2014 Olympics – Poorly planned, making the event go way over-budget. Identify potential risks before project execution. Reduce project risks. Risk Management. Technical risks.

Top 7 Enterprise Project Management Software Tools

TrustRadius Project Management

I have used MS Project to manage multimillion-dollar projects and also for developing a simple test plan… it simplifies the process of building out your WBS, adding resources, determining budget, and identifying timelines. IT Manager | Information Technology and Services Company.

2020 62

No Pain, No Gain?


In the field of information technology (IT), most people think that performing financial analyses on new projects is hard work, but it doesn’t have to be if you know what you are doing. Turning Project Financial Analyses into a Painless Exercise. Introduction. “No

2019 76

The Ultimate Guide to Creative Project Management

ProProfs Project Management

Initially, project management was meant mainly for construction, finance, and information technology (IT) sectors. Furthermore, the introduction of cutting-edge technologies from time to time upsets conventional workflows of creative projects. Risk analysis.

2020 64

Book of the Month

Herding Cats

The ignorance that all project work contains uncertainty, that uncertainty is of two kinds - reducible and irreducible, and that uncertainty is the source of risk. . IT Risk Management. Information Technology Estimating Quality. Who's Budget is it Anyway?

2017 36

#Noestimates Has Come to This

Herding Cats

Aleatory uncertainty produces an irreducible risk to the project. Epistemic uncertainty produces reducible risk, which can be dealt with directly with experiments, tests, redundancy, and other intervention processing. What's the Value at Risk ? No Risk Management.

2017 43

Biases in Project Management and How to Remove Them

Herding Cats

Cognitive bias - a mistake in reasoning, evaluating, remembering, or other cognitive processes, often occurring as a result of holding onto one's preferences and beliefs regardless of contrary information. 2] "The effect of fast and slow decisions on risk taking," M.

The Urge to Strangle(The Strangler Pattern)

Leading Agile

Business agility means having the capability to “turn on a dime” at low cost and with low risk, to drive innovation, respond to market changes, and overcome the competition. Once a technology becomes part of the environment it tends to stay there, even after the shine wears off.

2018 101

Software Estimating Resources

Herding Cats

Effort Distribution to Estimate Cost in Small to Medium Software Development Project with Use Case Points,” Putu Linda Primandari and Sholiq, The Third Information Systems International Conference, Procedia Computer Science, 72, pp. Monte Carlo Schedule Risk Analysis,” Intaver Institute, Inc.

Real Options and Decision Making for ICT Projects

Herding Cats

Real Options can be used to address the gap found in traditional capital budgeting methods. Instead is providing how Real Options is applied to decision making int he presence of uncertainty for ICT (Information Technology and Communications) here's a reading list. IT Risk Management. There was a classic #Noestimates post this week that said. Estimation locks down choices early through upfront t decision making, #NoEstimates preserves options.

2008 31

DDSTOP The Saga Continues

Herding Cats

In our software-intensive system of systems domain, we develop proposals with 80% confidence of completing on time and on budget at the time of submission. Define the risks - reducible and irreducible - to each Capability and their Features. What is the Value at Risk for your Project?

2019 48

What It Takes to be a Project Portfolio Manager


All project management roles, including project portfolio management, require extensive organizational and time management skills, with experience in resource allocation and budget management. . . Did you wake up one morning and say to yourself, “I want to become a project portfolio manager!”

Concept of Operations

Herding Cats

IEEE Computer Society, March 19, 1998, IEEE Guide for Information Technology—System Definition—Concept of Operations (ConOps) Document (IEEE Std 1362-1998). Office of Management and Budget, December 5, 1994, Operational Concept Description (OCD) , Data Item Description DI-IPSC-81430.

2017 42

Biases in Project Management and How to Remove Them

Herding Cats

Cognitive bias - a mistake in reasoning, evaluating, remembering, or other cognitive processes, often occurring as a result of holding onto one's preferences and beliefs regardless of contrary information. Optimism bias - a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. When System One works it is because of memories and past experiences inform the decision.

Complete Collection of Project Management Statistics 2015


The data and statistics below are sorted into categories so you can quickly skim to find the information you need. Simply grab the stats you want and find the corresponding original source information at the bottom of this page. Organizations that use a methodology: 38% meet budget.

2015 64

DDSTOP The Saga Continues

Herding Cats

If you're not an expert, you're not going to recognize the possible solutions, risks, impediments, and opportunities for the problems you'll encounter in developing a solution that has never been developed before. Irreducible Schedule Risk. Irreducible Cost Risk.

DDSTOP The Saga Continues

Herding Cats

At the #NoProjects #NoEstimates workshop it was mentioned that focus on "on-time, on-budget naturallt leads project to meet those goals and forget the value/benefits side of the equation. They don't care about cost, risk, schedule, the probability that they'll get what they paid you for.

2018 42

Concept of Operations

Herding Cats

Johns Hopkins University's Whiting School of Engineering provides an approach to making the decision about what's in the ConOps and its format based on some Systems Engineering analysis of criteria: Program risks - reducible and irreducible uncertainties that create these risks. Technology considerations - what limitations do we have? For any non-trivial project, we have a planned release date for the needed Capabilities, for a needed budget. IT Risk Management.

2014 34

A Wrap Up of the #NoEstimating Conjecture Analysis to Date

Herding Cats

If you're looking for motivation for estimates outside of the domain where the customer doesn't really care about the final cost, just the final product developed inside a "level of effort" budget, look here and remember. Making Choices in the Absence of Information.

2016 46

Observations from Computerworld's Premier 100 Conference


When you're in the same room with companies that have an IT budget that exceeds (gulp) 1 billion dollars, I knew I wasn't in Kansas anymore. This is not to say they want failure on major projects, 'cheap' meaning that it be low in both cost and risk. It was quite a wake up call to attend a conference outside of legal and I was certainly woken up on several occasions at the Premier 100 conference put on by Computerworld Magazine.

2010 43