How to Close a Surprise TKO Project

Project Risk Coach

Your project sponsor called you to her office and told you that the party is over — close the project. How to Close the Project. Second, be clear about the steps you will take to close the project. Review the Risk Register. 5=Closing

How To Close A Project Effectively [Infographic]

Girl's Guide to PM

But there’s another area that is arguably as important, if not more so than those: how to close a project. Here’s an infographic on how to close down a project effectively so you don’t leave anyone hanging.

How to Conduct a Risk Audit and a Risk Review

Project Risk Coach

In this article, we will look at how to conduct a risk audit to evaluate the effectiveness of your risk management. Additionally, we'll also talk about how to be more forward thinking through risk reviews. How to Conduct a Risk Audit. Who Performs the Risk Audits?

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12 Questions for Monitoring Project Risks

Project Risk Coach

Some project managers start their projects with a strong focus on risk management. In this article, I am providing questions that can help you in monitoring project risks and as a result, achieve better results. When problems occur, they turn to their risk response plan.

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 management for agile projects

Kiron Bondale

What are the implications to project risk management when you choose to deliver a project using an agile approach? Here are a few similarities: Risk needs to be managed through the project’s lifetime, not just at the very beginning.

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12 Questions for Gaining Control of Your Risks

Project Risk Coach

Are you a project manager who focuses on gaining control of your project risks? Some project managers start their projects with a strong focus on risk management. When problems occur, they turn to their risk response plan. Remember the definition for controlling risks?

Are You Making These Mistakes When Responding to Risks

Project Risk Coach

Some project managers make timely responses to risks, resulting in positive progress toward their project goals; others act haphazardly, resulting in undesirable consequences. Chuck Swindoll told a funny story that illustrates the dangers of costly mistakes when responding to risks.

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Playing Whack-A-Mole With Risk

Tyner Blain

Before your window of opportunity closes? My assertion in that workshop was that assumptions and hypotheses, practically speaking, are risks. The risk is that those beliefs are wrong. It represents an implicit risk. Remember – hypotheses and assumptions are risks.

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How to Connect Emerging Risks, Strategies, and Project Management [Snippet]

Project Risk Coach

How to Connect Emerging Risks, Strategies, and Project Management. Is your organization identifying and managing emerging risks? How have researchers and farmers responded to this risk? Poor recognition of emerging risks.

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).

Four Practical Ways to Improve Project Procurements

Project Risk Coach

Close the Procurements. Lastly, close the procurements. It is easy to overlook the final procurement activities when a project comes to a close. 2=Planning 4=Control 5=Closing Project Procurement Management

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. What is the value at risk you are willing to right off if you lose control?

How to Develop a Successful Buyer-Seller Relationship

Project Risk Coach

What are our greatest risks and what are we doing to manage those risks? 2=Planning 4=Control 5=Closing Project Procurement ManagementProject Procurement Management For most of my career, I have served in financial service organizations.

Project Risk Management: 10 Surprisingly Brilliant Tactics to Reduce Risk

Workamajig

Every project has some risk of failure. This guide on project risk management will help you understand and manage risks better. If there is one thing you can be certain about in project management, it's this: Every project carries some risk. Project risk is more amorphous.

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Risk Management is How Adults Manage Projects

Herding Cats

These uncertainties create the risk to the success of all projects. Without managing in the presence of risk, the probability of project success is significantly reduced, most likely reduced to zero. Management in the presence of risk has the following steps: [1].

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Small Batch Sizes are NOT Risk Management

Herding Cats

There is a popular fallacy in the Agile community that small batch sizes are Risk Management. What small batches do is provide information that informs risk management at a fast rate. Since all risk comes from Reducible (Epistemic) uncertainty and irreducible (Aleatory) uncertainty.

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Aleatory Uncertainty Creates Irreducible Risk

Herding Cats

Yesterday's Post Epistemic Uncertainty Creates Reducible Risk and What Is Risk? Risk is not there to be mitigated, it's there to be eliminated. Risk is the result of uncertainty, which comes in two kinds for all projects, for everything actually. Epistemic uncertainty and the risk it creates can be reduced with handling processes. The objective of identifying and managing aleatory uncertainty to be preparing to handle the impacts when risk is realized.

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An Introduction to Rescuing At-Risk Projects

MavenLink

This blog post is an excerpt from our latest Rescue Guide , which was created to help you become a better project manager — one that is aware of potential problems, can identify when a project is at risk, feels comfortable and confident sending out that SOS, and can confidently course-correct, getting projects back on track. However, the reality is there is only one reason a project fails — poor risk and issue management. They are not monitoring the project closely enough.

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7 Reasons Why Excel Is Putting Your Project At Risk

Paymo App

Risk #1: No Specialized Features. Risk #2: No Single View Of All Work. Risk #3: No Professional Communication With Clients. Risk #4: Adding More Time To Projects. If you want to work out whether a task is open, closed or overdue you need a formula. Risk #5: Inaccurate Calculations. Risk #6: Losing Data. Excel project management puts data at risk. Risk #7: Making Bad Decisions.

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The perils of percentage availability…

Kiron Bondale

Or (and this is the most likely case) is it that at the end of the project, if I divided Bob’s actual hours spent working on my project by the potential hours he might have worked if he had been allocated full time, it will be close to 50%?

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12 Project Management Rules You’d be Wise to Note

Online PM Courses

To paraphrase a familiar saying (also of widely disputed origin): ‘Keep your team close, but your stakeholders closer still.’ I once told the story of how my book on Risk Management , ‘ Risk Happens! How Project Risk Management will Make You a Better PM.

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The 5 Most Critical Moments During Project Collaboration

MavenLink

What You Need to Do: Any relevant stakeholders must collaborate closely on project goals and requirements, as well as clearly define assumptions and expectations. Managing Risks. Healthy project collaboration demands continual effort and concentration.

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Horseshoes and hand grenades? Don’t forget about projects!

Kiron Bondale

But on more critical projects or those possessing a higher level of complexity, there might be some value while high severity risks are being analyzed to add the dimension of a threshold that should trigger some degree of investigation and corrective action.

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Probability plays a powerful role in project management

Kiron Bondale

From foreign dignitaries to the stock markets, the prevailing opinion leading up to June 23 was that while the final results would be close, the majority of voters would choose to keep Britain within the European Union. Lethal impact, very low probability risks often get dealt with.

2016 170

Don’t forget n*(n-1)/2 when scaling agile!

Kiron Bondale

But on agile projects we expect that core team members will collaborate closely on a daily basis. Tagged: agile project management , communications , project decision making , Risk management , team building.

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5 early warning signs of project failure

Moira Alexander

There are many reasons why projects still fail but paying close attention to and addressing these five early warning signs immediately can help keep things moving in the right direction with less strife and causes for concern, and ultimately decrease the risk of project failure. Project failure is costly.

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Why Projects Fail – Five more reasons

Online PM Courses

A closely related problem (also remedied by rigorous change control) is scope creep. Poor Risk Management. If you fail to manage risk well, your project is likely to fail. We have written a lot of articles about Project Risk Management.

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How to memorize the 49 processes from PMBOK 6th Edition in under 30 minutes

ExamsPM

Risk. TIP: Fill out the Initiation and Closing process groups first as they are in the 3 corners. P lan risk management. I dentify risks. P erform qualitative risk analysis. P erform quantitative risk analysis. P lan risk responses. M onitor risk.

Little Book of Bad Excuses

Herding Cats

Let's start with formal risk management. There was a twitter post yesterday asking about the connection between Agile development and Risk Management. Agile is a participant in risk management but it is not risk management in and of itself. How are these risks identified?

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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. Increasing the Probability of Project Success Simple in Theory, Complex in Practice.

10 project management myths to avoid

Moira Alexander

Project management professionals are wizards at leading teams in the successful execution of projects, reducing risks, collaborating with stakeholders, resolving conflict and a host of other things — but they are not magicians. It is important for project managers, stakeholders and sponsors to recognize and accept when it is time to close off a task or initiative, instead of pouring more resources into trying to fix a lost cause.

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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. It's been said by an agile voice that.

You Can Unlock the Power of Integration Management

Project Risk Coach

The best project managers know how to blend their knowledge in different areas such as scope management, cost management, and risk management. Close Project. Closing process group.

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Project Assumption Management

Project Health Check

But the difference is here we need to make a special effort to notice them, because Assumptions have a nasty habit of turning into Risks, which then may impact and turn into Issues. I suggest you exhaustively identify every Assumption possible - you can always close them later.

2017 170

Project Management Processes & Phases

ProjectManager.com

In project management there are five phases: initiating, planning, executing, controlling and closing. Risk: Determine what risks are likely, how they’ll impact the project and then plan how to resolve them. Close. The last phase of the project is closing it out.

10 Project Constraints That Endanger Your Project’s Success

ProjectManager.com

It can be defined by answering this question: “How closely does the outcome match the expectations?”. Managing risks is an important task for project managers. When you estimate probability, a risk will have a certain impact on your project. Tool for Handling Risk.

2018 294

Misunderstanding Making Decisions in the Presence of Uncertainty

Herding Cats

The risk is created when we have not accounted for this natural variances in our management plan for the project. Dealing with Aleatory (irreducible) uncertainty and the resulting risk requires we have margin. An aleatory risk is expressed as a relation to a value. Embrace Risk!

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4 Tips for an Effective Project Management Plan

Wrike

Include any difficulties the team may encounter and risks involved in the project. A sound risk management plan limits the impact of these issues and may warn workers to avoid them altogether. Leaders always have to be ready to adapt to changing circumstances and meet fresh challenges.

Principles of Cost and Schedule Estimating

Herding Cats

One of the 4 summary root causes of project performance failures is Unrealistic Cost and Schedule Estimates based on inadequate risk-adjusted growth models. Risk Management is how adults manage projects - Tim Lister. A longer bibliography of Risk Management on Agile Projects. .

How to Actually Develop a Project Management Plan

Project Risk Coach

The Project Management Body of Knowledge (PMBOK) says the project management plan is “the document that describes how the project will be executed, monitored and controlled, and closed. Featuring baselines, subsidiary plans, and other ancillary plans Do you know the 5Ps?

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.

Definition of Done

Herding Cats

Do those capabilities meet the Measures of Effectiveness needed to accomplish the mission of the system in operational units of success closely related to the achievements of the mission or operational objectives evaluated in the operational environment, under a specific set of conditions?

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