How to Actually Close a Project

Project Risk Coach

If you are like most project managers, you are managing several projects. However, I encourage you to actually close each project before moving to the next one. If you have a resource manager, work with the manager to ensure a smooth reassignment of the resources.

Risk Analysis 101: How to Analyze Project Risk

ProjectManager.com

Before you’re able to analyze the risk in your project, you have to acknowledge that risk is going to happen in your project. By planning for risks, you begin the process of knowing how to identify, monitor and close out risks when they show up in your project.

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What Is a Risk Register & How to Create One

ProjectManager.com

What is a Risk Register? A risk register is a tool in risk management and project management. There is no time too early to start thinking about risk analysis in your project. There is no time too early to start thinking about risk in your project.

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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. Risks were identified, then qualified, and risk responses planned. For implementation of these risk responses, a number of actions were needed.

What’s in YOUR risk register?

Kiron Bondale

Tracking and reporting risk information is a standard part of any project management approach. Given this, is it possible to come up with a minimum set of risk information elements which we’d want to capture on most projects?

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How to Manage Project Environment from Initiation to Close

ProjectManager.com

Managing a project is difficult. You need to be aware of the project environment and prepare for its influence on your project throughout the project management life cycle. A project environment is all the internal and external forces that exert on your project management.

A cold lesson in secondary risks…

Kiron Bondale

Secondary risks are those which arise based on the implementation of a response to an identified risk. Similar to other risks, secondary risks can fall into known-unknown and unknown-unknown categories. Project Management improving project management Risk management

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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. Risk bias and appetite need to be assessed when managing risks. How a team, risk owner or sponsor will identify or respond to risk is tied to their individual perceptions.

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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. How can project managers optimize their risk responses and get the results they are looking for? Allow me to introduce you to two project managers—Tom and Susan. Susan, on the other hand, facilitated an early risk identification workshop. Risk reassessment.

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. Good Risk Management fosters vigilance in times of calm and instills discipline in times of crisis.” -Dr. How to Conduct a Risk Audit. Who Performs the Risk Audits? ” Review the effectiveness of the responses to risks.

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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. Keep your friends close, and your enemies closer." —SUN-TZU, ” —GEORGE BERNARD SHAW, IRISH PLAYWRIGHT RISK 14. The post Risk Management Wisdom and Humor of the Ages appeared first on Project Risk Coach.

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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. What tools and techniques can project managers use for controlling risks and getting the results they are looking for? Allow me to introduce you to two project managers—Tom and Susan. Susan, on the other hand, facilitated an early risk identification workshop.

Risk Management Plan Example (Comprehensive Guide+Tempalte)

PM Basics

In this article, you’ll find the real-life project risk management plan example. Below the example, you’ll find all the required information and resources to create your Risk Management Plan quickly and for free. Risk Management Plan Definition.

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How to Close a Surprise TKO Project

Project Risk Coach

Little did you know that senior management had been discussing the possibility of killing the project for the past month. Your project sponsor called you to her office and told you that the party is over — close the project. Where does a project manager go from here? How to Close the Project. Second, be clear about the steps you will take to close the project. Review the Risk Register. The post How to Close a Surprise TKO Project appeared first on.

How To Close A Project In PRINCE2

Girl's Guide to PM

If you aren’t using PRINCE, or if you want some general guidance as well about project closure documents and so on, read this next: How to close a project. A project has a start, a middle and an end, so closing a project is an important part of the project management lifecycle.

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. Other project managers start out strong and stick with their risk management. When problems occur, they turn to their risk response plan. They run toward their risk management tools and techniques to aid them.

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. Other project managers start out strong. When problems occur, they turn to their risk response plan. They run toward their risk management tools and techniques to aid them. The result: these project managers spend less time responding to issues.

Seven Aspects of Project Risk in 2020

Strategy Execution | PMO Perspectives

Ahead of its January meeting in Davos, the World Economic Forum published its Global Risks Report 2020, based on the input of 750 experts and outlining the biggest risks faced by economies over the next 10 years [1]. And if the WEF didn’t see a risk coming, then what hope do we have?

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The Risk Management Life Cycle in the Context of Projects, Programs, and Portfolios

MPUG

As I interact with various project, program, and portfolio (PPP) management professionals who use my courses, read my books, and/or attend my webinars, I get many queries on the risk management life cycle approach. Monitor Risks. “Project Creates. Program Guides.

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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. ’ Swindoll closed his story with these words: ‘Chippy doesn’t sing much anymore.” Mistakes We Make When Responding to Risks. Failure to define risk triggers.

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How to Look Backward and Forward at Your Risks

Project Risk Coach

Project managers may fail to achieve their project objectives because they don’t know how to take a look backward and forward at their risks. Some project managers only look backward. Some project managers only look forward. Project managers who only look forward fail to learn from their past successes and mistakes. Project managers can use risk audits to look backward and risk reviews to look forward. Who Performs the Risk Audits?

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10 Habits of Highly Effective Project Managers

Project Risk Coach

Just because you've been a project manager since the days of "Gilligan's Island" is no guarantee that you are an effective project manager. 10 Habits of Effective Project Managers. Define what you mean by risk The term "risk" means different things to different people. Some individuals think risks are negative events (i.e., Whether you are starting a project or a program, be clear about what you mean by the term risk.

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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? Researchers think they are close to developing varieties that will be resistant to the bacteria, but it will be years before these varieties will be commercially available. Project management is a powerful tool for enterprise transformation. Poor project management.

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The Close Sibling of Communications and Stakeholder Management: Resource Management

MPUG

In one of my earlier articles, The Twins–Communications and Stakeholder Management , I outlined how deeply and closely these two knowledge areas of the PMBOK® guide interact with each other. This is why I call it “the close sibling.”. Resource Management – What Happens?

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. Putting out these fires is your job as the project manager. As you might know, this process of "planning ahead" is called project risk management. Project risk is more amorphous.

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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. So, I would suggest you review examples of dealing with different risks on a real project first. Click here to read how I managed different kinds of threats. Project Risk Management Overview. Definition of Risk Response Strategies.

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Probabilistic Branching and Analysis in Risk Management

MPUG

These questions lead to a concept called probabilistic branching and analysis , which is used in quantitative risk analysis and management. Probabilistic branching is one of the ways to represent individual project risks. But, as with many projects we manage, we have a twist!

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Simplifying Schedule Risk Analysis Using Microsoft Project Custom Fields – Transcription

MPUG

Please find below a transcription of the audio portion of John Owen’s session, Simplifying Schedule Risk Analysis Using Microsoft Project Custom Fields, being provided by MPUG for the convenience of our members. Well, thank you everybody for joining this webinar, we’re just going to talk about some simple ways of performing Schedule Risk Analysis basically just using Microsoft Project with an add in that we sell called Full Monte. I’m using those to model risk.

Risk Management Resources

Herding Cats

Risk Management is essential for development and production programs. Risk issues that can be identified early in the program, which will potentially impact the program later, termed Known Unknowns and can be alleviated with good risk management. Effective Risk Management 2 nd Edition , Edmund Conrow, AIAA, 2003. Risk Management is Project Management for Adults - Tim Lister. Risk Management Papers. “A

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Managing risk

Scrum.org

Often I hear people say that Scrum does not take care of risk: there is no risk log, risk is not on the agenda of the Sprint Review or Retrospective as a standard agenda-item. That's a risk right there! How is risk managed in Scrum? Scrum is all about risk management. Ken Schwaber talks a little bit about it in this short video: Risk is personal. First let's think about what risk actually means. Different types of risks.

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Risk Management Examples: 9 Behind the Scenes Stories

PM Basics

It is hard to imagine what you can do with a project risk. What can you, as a project manager, do to mitigate a risk? Adding some risk reserves and removing requirements from the scope are not the only options. I want to share some stories of risk management with you. These risk management examples will help you to broaden the understanding. List of Risk Management Examples in This Article. Risk of Unclear requirements.

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Risk Management is How Adults Manage Projects

Herding Cats

In a recent exchange in social media, it was clear the notion of risk and the sources of risk, the consequences or risks and managing in the presence of risk was in very unclear, when it was conjectured , we can simply slice the work into small bits and REDUCE risk. . First, the only risk that can be reduced is the risk created by Epistemic Uncertainty. Making things small does not reduce the risk it may make the uncertainty smaller.

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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. A risk is an issue or event that could prevent a program or project from meeting its technical, schedule, cost, or safety objectives. Management in the presence of risk has the following steps: [1]. Track - is a fundamental step in controlling risks.

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How to Cash In on Project Opportunities

Project Risk Coach

Some project managers have a defensive mindset. 3 Is an Opportunity a Risk, Really? Project managers may use qualitative and quantitative risk analysis to evaluate opportunities. Therefore, negative risks are considered to be threats and positive risks are opportunities.

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7 Risk Management Process Steps | Roles and Responsibilities

Techno-PM

Risk Management Murphy’s Law is no strange to project management: whatever can go wrong, will go wrong. Fortunately for projects, we have this little magic thing called risk management which can help us to become more comfortable in dealing with the unexpected. Risk Management Process Steps Risks are events which, should they occur, can have an impact (typically negative) in the objectives of the project, causing delays, costs overruns, or affecting quality.

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Agile Leadership: How to Close the Knowing-Doing Gap

Scrum.org

Agile Leadership: How to Close the Knowing-Doing Gap. Smart leaders send their management teams on Agile training courses and leadership courses only to find that the learning doesn’t translate into action and therefore improvement.

Risk Register Example – All You Need to Know About It

PM Basics

Risk Register is the most important document in the project management. Risk Register is a document that contains the information about identified risks, results of Risk Analysis (impact, probability, effects), as well as Risk Response Plans. Risk Category.

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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. Risk Management is essential for development and production programs. Effective Risk Management 2nd Edition, Edmund Conrow, AIAA, 2003. Risk a Feelings,” George F.

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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.

Ask the Right Questions at the Right Time

Project Risk Coach

The success of a project manager largely lies in the individual’s ability to communicate. Some project managers have great oratory skills but don’t ask the right questions at the right time. Here are some key questions for each of the project management process groups. What is the authority level of the project manager? What are the most significant risks ? 1=Initiation 2=Planning 3=Execution 4=Control 5=Closing Project Risk Management

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