Enterprise Risk Management (ERM) and Risk Governance

MPUG

Let’s consider the following scenario based true events which occurred within an organization I worked closely with recently. I came to know that there were no consistencies within risk governance parameters, such as risk appetite , or risk threshold , for example. Types of Governance.

The Three Things Every Project Manager Must Know about Project Governance

Ron Rosenhead

It covers the very important topic of project governance. Project Governance is often seen as getting in the Way. Good Governance Adds Value. But good governance is not about meddling. Project governance is an essential discipline. So, if you had to know just three things about project governance, what would they be? Good Governance Sets Direction. This is a governance role. Good Governance Makes Decisions. That is governance.

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Review Agile Governance and Audit

Henny Portman

Christopher Wright wrote the book Agile Governance and Audit – An overview for auditors and agile teams. Agile Governance and Audit gives a short introduction to agile, compares agile with waterfall and looks at audit and agile cultures. The author follows a project life cycle from idea towards a usable product including governance and control. To order (Bol.com): Agile Governance and Audit.

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. Risks can then be more closely monitored by senior management and stakeholders trust the data. The post Kingspan Insulation Enables Growth with Successful Product Portfolio Governance appeared first on arraspeople. Growth is a good thing. Right?

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. Risks can then be more closely monitored by senior management and stakeholders trust the data. Growth is a good thing. Right? It means your business is doing well, reaching new customers, obtaining greater market share. Well, not necessarily.

Closed Loop Control and Granularity of the Estimating Process

Herding Cats

For any closed loop control system ‒ let’s assume we want to manage our project with such a system ‒ has a signal representing the current state of the system. To control this process using feedback and corrective actions ‒ in the same way, your closed loop controller for your air conditioner or heater does - a sampling rate is determined based on the rate of change of the underlying processes. Managing software development projects is a Closed Loop control system.

Vendor Showcase Recap: Triskell Software for Enterprise Governance

MPUG

Please find below a transcription of the audio portion of Rich Murphy’s showcase session, Triskell Software for Enterprise Governance, being provided by MPUG for the convenience of our members. We have a lot… We’ve got several European government agencies.

Vendor Showcase Recap: Triskell Software for Enterprise Governance

MPUG

Please find below a transcription of the audio portion of Rich Murphy’s showcase session, Triskell Software for Enterprise Governance, being provided by MPUG for the convenience of our members. We have a lot… We’ve got several European government agencies.

The Origins of Scrum and Empirical Closed Loop Control

Herding Cats

This took me back since Scrum is derived from an empirical closed loop control system developed in the USAF by Col. And of course: Assessing the outcomes of the feedforward and feedback loops is the basis of all Closed Loop control system. See link below on Closed Loop Control). Closed Loop Control. Close Loop Thinking. Agile Decision Making Estimating Governance Management PrinciplesI came across a couple of interesting tweets over the weekend.

Tailoring project management for a home move (part 2)

Kiron Bondale

Governance Project Management communications project management QualityIn my last article, I had written about our current personal project of moving from our current home to a new house in a different city. After it was published, I received some feedback ( thanks Luis!

2021 187

Rogue Project Sponsor: What to Do when Sponsorship goes Bad

Online PM Courses

Show them how close to the bone you are in achieving your outcomes. Or maybe you’ll need to make the choices yourself, and take the governance risk on your own shoulders. In All Cases, Look to Your Governance Structure. One of the principle purposes of project governance is decision-making. Above or around your rogue Project Sponsor should be a strong governance body. If that does not flush out a formal sponsor, then follow your close-down plan.

2018 135

A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Project Governance. Open Loop / Closed Loop Project Controls. Agile Software Development for Government Software Intensive System of Systems (SISoS) , Boulder Agile Meetup, 27 July 2016. Governance. Program Governance Roadmap. Principles of Program Governance. Making Agile Development Work in a Government Contracting Environment, Measuring Velocity with Earned Value , Glen B.

2008 45

Knowledge Management: Share the Wisdom

Project Management Essentials

Our enterprise governance organization regularly promulgated new policies and standards that were a poor fit for many project fact patterns. Closing the Project: 10 Ways of Embedding Lessons Learned in the Organizational DNA. Closing a Project: Ask the Right Questions. Leadership Project Management PM Skills Project Close TrainingKnowledge Management (KM) is broadly defined as the process of creating and sharing information across the organization.

Lean 40

Compendium of Works to Increase Probability of Project Success

Herding Cats

Governance (#Governance). Six Business System Rule - defines the assessment of the integrated business systems for Federal procurement and their integrity in providing information to the Government contracting office. . Managing Government Grant Projects at Arizona Public Service - APS management process for Department of Energy grant for algae CO2 capture project. Open Loop / Closed Loop Project Controls - project management is a closed loop control system.

2015 37

Easter Vacation 2020

Arras People

The Arras People team will be taking a break over the Easter Weekend and all operations will be closed from Thursday evening on the 9th April 2020 until 9-00am on Tuesday 14th April 2020.

2020 230

Why the Stage Gate Process will Make You a Better Project Manager

Online PM Courses

It is an important part of project governance that looks both backwards and forwards. Let’s set aside the very important governance imperative. But what if governance were unimportant to you… or your organization? And of course, it isn’t just you who will be studying this evidence closely. ’ PRINCE2 and the UK Government refer to Gate 0 – Strategic Assessment. PRINCE2 and the UK Government refer to Gate 1 – Business Justification.

Increasing the Probability of Project Success

Herding Cats

and the connections between each Process are made to form a Closed Loop control systems needed to manage any project. Capabilities Earned Value Estimating Governance Management Performance-Based Project Management® Principles Requirements Risk Root Cause Analysis Technical Performance MeasuresIncreasing the Probability of Project Success Simple in Theory, Complex in Practice.

2017 69

Project Management Process: The Basics

Clarizen

Closing : processes required to formally end a project, or a phase of a project. . The initiating project management process group governs the tasks and steps that are needed to define and formally authorize a new project, or a major new phase of an existing project. Closing.

The #NoEstimates Paradigm and Response

Herding Cats

When we hear a suggestion about a process that inverts the logic of normal business activities based on a governance framework - say Microeconomics of Software Development, we need to ask who benefits? It is likely those paying us have some sort of governance process in place for managing the spend of that money. Governance is about decision rights. Management is a closed loop process. Another No Estimates advocate claims NE is closed loop control.

2016 49

Good Reason to Have Lots of Bad Ideas

Herding Cats

The column starts with Pauling's principle of electroneutrality stating each atom in a stable substance has a charge close to zero. This approach provides for bad ideas to evolve into good ideas once the idea comes in contact with principles or business governance. Those who pay usually have some form of governance of their money. . Governance is About Decision Rights. Here's some more backgrund on Governance. NoEstimates Governance Principles

2017 36

What’s in YOUR risk register?

Kiron Bondale

How we do it will vary based on the context of the project being managed, the needs of the stakeholders and the policies or standards governing the practice, but in general, a risk register is a common standalone artifact, RAID log section or information radiator.

Risk 181

3 Questions That Must Be Asked at Every Project Management Meeting

Herding Cats

And finally, since all project work operates in the presence of uncertainty, we must make estimates in order to execute the project in a Closed Loop manner. These questions and the principles, processes, and practices to support them are Governance of the project. NoEstimates Capabilities Decision Making Estimating Governance IMP/IMS Management Principles Project Management Risk

2018 35

Project Management System: The Basics

Clarizen

The project team structure subsystem governs how project teams are organized into hierarchies. government agencies). The project planning subsystem governs all aspects of project planning across the portfolio. What is a Project Management System?

2020 124

Deconstructing the Hertz and Accenture Debacle

Herding Cats

We play this role in ERP acquisitions for commercial and government clients . A mentor taught me a nice phrase when we were helping a large government nuclear and conventional power general agency acquire large document management and design system (about the same dollar size as this). This is a foundational principle of program planning and controls just as it is a principle of closed-loop control systems.

DDSTOP The Saga Continues

Herding Cats

We were one of the first users of eXtreme Programming, long before Scrum was around and presented that early work in 2003, " Making Agile Development Work in a Government Contracting Environment, Measuring velocity with Earned Value." . This is a closed loop system optimization process applied to all the projects we work. Satisfy the governance and oversight requirements of the firm providing the money.

2019 37

Two Parallel Processes of Project Success - Both Value and Delivery are Needed

Herding Cats

Making technical and management decisions in the presence of these uncertainties to Deliver the needed Value at the needed Time for the needed Cost , requires a Closed Loop Control process. Without that target and the error bands on the target and the processes used to steer, Close Loop Control is ineffective - constantly chasing a moving target , with an understanding of what could result, versus what should result. .

2018 39

From Mission Capabilities to Done

Herding Cats

These measures are: Measures of Effectiveness (MOE) – are the operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions. Agile Capabilities Decision Making Estimating Governance IMP/IMS Management Performance-Based Project Management® Planning Project Management Requirements Risk Root Cause Analysis Scheduling Technical Performance Measures

2017 35

Fallacy of the Day

Herding Cats

In the Project Controls paradigm, Value is a measurable attribute of the project controls process - a Closed Loop Control measure. Measures of Effectiveness - are operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions. Each of these measures participates in the Closed Loop Control Systems. This is the basis of Closed Loop Control.

2017 34

Physical Percent Complete: Knowing When You Are Done

Herding Cats

Thus, the work package for preliminary design cannot be “closed” (closure conditions satisfied) until the document and the TPM conditions are met. Architecture Capabilities Decision Making Earned Value Estimating Governance IMP/IMS Management Performance-Based Project Management® Principles Project Management Scheduling

2018 38

#NoEstmates and the System of Profound Ignorance (SOPI)

Herding Cats

Lack of Appreciation for the System of business management - business management is a closed loop process to maximize the Value in exchange for the Cost. NoEstimates GovernanceDeming's approach to problem solving is based on The System of Profound Knowledge (SOPK). The anti-pattern to SOPK is The System of Profound Ignorance (SOPI). .

2016 44

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

Accuracy - how close is the estimate to the actual value? Federal Government, in support of OMB Circular A-123.”. NoEstimates Debunking Decision Making Estimating Governance Mathematics Principles Risk Systems TheoryThere was a Tweet two days ago from one of the founders of eXtreme Programming, that said. What happens if you shift focus from "accurate estimation" to "reliably shipping by a date"? .

Innovation Project Management

International Institute for Learning

The book also discusses the corporate governance needed to create the appropriate culture for innovation to occur. Chapter 9: Discussed how disruptive innovation requirements may need a completely new form of project management and the need to interface closely with the consumer marketplace.

PRINCE2 and PMBOK: How They Compare

Girl's Guide to PM

First came PRINCE in 1989 as the UK government standard for IT project management. There are other differences: the PMBOK® Guide usefully covers procurement, whereas PRINCE2 assumes you are operating in an environment constrained by a contract, because of its roots in government IT projects.

Capture More Agility by Tailoring Practices

International Institute for Learning

The original Agile Manifesto closes out its declaration of values and principles with this very topic, saying: At regular intervals, the team reflects on how to become more effective, then tunes and adjusts its behavior accordingly.

2020 97

Economics of Software Development

Herding Cats

Managing in the presence of uncertainty requires a Closed Loop Control process. Without that target and the error bands on the target and the processes used to steer, Close Loop Control will be ineffective - constantly chasing a moving target , with understanding of what could result, versus what should result. . NoEstimates Economics Estimating Governance Mathematics Principles

2017 36

Misinterpretations of the Cone of Uncertainty

Herding Cats

Closed Loop Stochastic Adaptive control in the presence of Evolving Uncertainty. Management of this reduction work and measurement of the progress is a Close Loop Control System paradigm. Closed Loop Control, has a goal, an action, a measurement, and a corrective action. This is the basis of the closed loop control system used to manage the program with empirical data from past performance compared to the planned performance at specific points in time.

2017 32

Cone of Uncertainty - Part Cinq

Herding Cats

The planned value, the upper and lower control limits, the measures of actual values form a Close Loop Control System - a measurement based feedback process to improve the effectiveness and efficiency of the project management processes by [1]. This is a closed loop control system for managing the program with a T echnical Performance Measure (TPM). The Cone of Uncertanty, is the signaling boundaries of the Closed Loop Control system used to manage the project to success.

2017 33

Proceeding without contingency is irresponsible

Kiron Bondale

This is closing the barn door after your prize-winning stallion has raced off into the sunset. Is it sufficient to merely have the risks introduced by this action captured in a risk register, communicated to stakeholders and even signed off by the right governance bodies?

2021 274

Connecting "What" with "How" - and the Failure to Understand the Principles of Systems Engineering and Systems Management

Herding Cats

Measures of Effectiveness - are operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions. NoEstimates Agile Capabilities Earned Value Estimating Governance Illogical Agile Quotes Management Planning Principles Product Management Project Management Requirements Risk Root Cause Analysis Scheduling Systems Theory Technical Performance Measures

Concept of Operations

Herding Cats

Measures of Effectiveness - Operational measures of success that are closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions. Architecture Capabilities Decision Making Earned Value Estimating Governance Management Planning Principles Project Management Requirements Scheduling

2017 32