What Is Change Control in Project Management?

ProjectManager.com

It’s a cliché to say that nothing is constant except for change, but the adage certainly applies to anyone who has ever managed a project. Whatever the change, it must be managed and analyzed, then accepted or rejected. Change control is the process used to manage all these variables.

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.

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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.

Project Controls: A Quick Guide

ProjectManager.com

Project managers are well aware of this and spend much of their time planning in order to avoid negative risk and its potential impact. There are many tools that can mitigate risk in a project, but it also takes skill in something called project controls. Like the name implies, project controls are about controlling the project and keeping it from exceeding budgets and deadlines. What Are Project Controls? Risk management.

12 Sure-Fire Ways to Improve Project Risk Management

Project Risk Coach

Mike was a functional project manager in an organization where I managed a PMO. But his projects were trending in the wrong direction and his manager was not happy with Mike's performance. Warren Buffett says, "Risk comes from not knowing what you are doing."

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Risk Register Template

ProjectManager.com

Plan for project risks with this risk register template for Excel. Define risk priority and the potential impact for each. Risk is going to happen, but with this free risk tracking template handy, you can prepare for it and have a response already thought out and in place.

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What Everybody Should Know About Controlling Risks

Project Risk Coach

Many project managers do a great job of identifying risks. Some even evaluate risks and develop response plans. However, project managers get busy as their projects progress and fail to control risks, resulting abandoned or wrecked projects. So, what does it mean to control risks? Here’s the Merriam-Webster dictionary definition: control: to direct the behavior: to cause to do what you want. Five Ways to Improve Your Control.

Project Management Processes & Phases

ProjectManager.com

If so, it might be time to start implementing proven project management processes and phases at your organization in order to bring your company’s workflow under control. At first, the concept of the project management process and its practical adaption can seem a little daunting, but this article will give you everything you need to set up PM processes and phases at your business. Phases of Project Management. Monitor and Control.

Get the ‘Right’ Project Controls & Enterprise Programme Management You Want

Arras People

Project management consultancy Dada Enterprises has released a copy of the webinar it presented on designing the ‘right’ Project Controls Solutions for an organisation. Although the benefits of an effective Cost Management system are well known too often most companies rely on a hotchpotch of legacy systems with manual re-entry of data in different systems with excel being relied upon to cut-and-paste integrated reports together. Programme Management (PgM3).

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. Part of that process is risk analysis. It’s a technique that helps you to mitigate risk. Definition of Risk. Risk Analysis vs. Risk Identification vs. Risk Management.

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How to Build and Use a Risk Register

Project Risk Coach

Project managers constantly think about risks, both threats and opportunities. 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. Consider using this syntax: Cause -> Risk -> Impact. ” Risk Owner. Risk Score.

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Process Optimization: Get More From Your Processes

ProjectManager.com

No process is perfect immediately. Process optimization methods can help guide those tweaks and improvements. With process optimization, the ultimate goal is to help you be more efficient by adjusting certain aspects of your project or business—whether it be operating procedures, equipment and resources management, or a control loop—to name a few. By optimizing their process of sorting, folding and packing, you can improve the business as a whole.

7 Ways to Identify Risks

Project Risk Coach

Successful project managers have a common trait – they identify and manage risks. Let’s look at seven tools and techniques to identify risks. Often project managers start with a splash. They get the team together, identify lots of risks, and enter them into an Excel spreadsheet. However, the risks are never discussed again. What happens when project managers and their team fail to identify risks in an iterative fashion?

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Evaluating Risks Using Qualitative Risk Analysis

Project Risk Coach

Have you ever endured a project meeting where you spent hours evaluating risks? Today, let’s discuss the use of qualitative risk analysis to get you back on track. First, the evaluation process may not fit the project – too complex for simple projects or deficient for large, complex projects. Second, the process may not fit the maturity level of the project team. Third, team members view the process as burdensome with little value. What is Risk Evaluation?

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How to Evaluate Risk Velocity

Project Risk Coach

Life is filled with risks. Some risks occur slowly. Let’s look at how to evaluate risk velocity and why it matters. What is Risk Velocity? Risk velocity is the time to impact. Think of velocity as an estimate of the time frame within which a risk may occur. Why Risk Velocity Matters. When the velocity is low, we have more time to respond to the risks. The risk owner has time to develop a contingency plan (i.e., Risk Score.

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How to Make a Process Improvement Plan

ProjectManager.com

Project management is made up of processes. Project managers and their teams depend on those processes to ensure that a project runs smoothly. But what about those processes? Too often processes are relied on as if they were somehow perfect and cannot be touched. Complacency has no place in project management. Constantly analyzing your processes is the best way to reach a successful end. What Is a Process Improvement Plan?

IT Risk Management Strategies and Best Practices

ProjectManager.com

It’s big business that’s involved in almost every sector of the economy, and therefore carries some major risks. Jennifer Bridges, PMP, shows you the importance of IT risk management in this short tutorial video. In Review – IT Risk Management Strategies and Best Practices. Due to its expansive influence, it’s essential to talk about risk management in IT. Information technology offers unique scenarios, and therefore, unique risks.

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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What Project Managers Should Know About Monitoring Project Risks

Project Risk Coach

Many project managers do a great job of identifying risks. Some even evaluate risks and develop response plans. However, project managers get busy as their projects progress and fail to monitor their risks, resulting in challenged or failed projects. Here are some key factors that you should know about monitoring project risks. Do Project Managers Really Control Risks? First of all, what does it mean to control something?

Integrated Change Control

MPUG

Outlining the Purpose of Project Change Requests and Change Control Boards. Integrated change control (ICC) is the process of reviewing all change requests, approving changes, and managing changes to deliverables with documentation. ICC consists of many overlapping areas, such as change management, project management, configuration management (CM), and the change control board (CCB). Integrated Change Control.

Risk Management Plan - What is the Process?

Brad Egeland

One must keep alert for the effectiveness of the security controls so that they don’t change in a split of a second. An ideal way to ensure this is by having a risk management plan so that you can avoid a data breach, which will ruin your IT supply chain up and down. Risk Management Planning What is the Risk Management Process? So, most times you can expect to make lots of lists to keep up with the entire process.

Project Risks and Issues – What’s the Difference?

Project Risk Coach

Well, let's talk about project risks and issues, the differences, and why it's so important to manage risks. What is Risk? The Project Management Body of Knowledge (PMBOK) defines risk as, “An uncertain event or condition that, if it occurs , has a positive or negative effect on one or more project objectives.” Let's examine a risk statement and underscore some key attributes of risks. So, how does an issue differ from a risk?

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The 10 Risk Management Commandments You’re Breaking Every Day

Project Risk Coach

Risk management is such an effective vehicle for climbing the tallest mountain or swimming the deepest sea. However, the risk management pitfalls are many, rendering us completely ineffective in our attempt to fulfill our dreams. I fear that many project managers live by the letter of the law and may fail to gain the true benefits of risk management. Thou shalt not make risk management complicated. Because your risks change over time.

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How to Identify Scope Risks

Project Risk Coach

8 ways to identify scope risks Some project managers struggle to identify scope risks. Second, individuals may not know HOW to identify scope risks. Either way, the failure to identify (and manage) scope risks can be costly. What are Scope Risks? Risks are uncertain events or conditions, that if they occur, will have a positive or negative effect on the project objectives. What are some examples of scope-related risks?

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Control partners should have skin in the game!

Kiron Bondale

But after finishing the book, I realized that there is a much more compelling example of the challenges experienced with risk asymmetry in many large organizations, namely with those staff who are responsible for developing the policies, standards and methods used by teams for delivering projects or products. But as the size of the organization increases and stakes get higher, control partners emerge to influence not only what but how production occurs.

IT Risk Assessment Template

ProjectManager.com

Create a risk assessment document in order to prepare for the inevitable. An IT risk assessment template gives you the tools to see what might be waiting around the corner. Why You Need an IT Risk Assessment Template. Risk is something that is just part of life, but in business that risk can bring financial loss and send an enterprise spiralling down into ruin. The list of risks to an IT environment are long. How to Use Our Risk Assessment Template.

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The 10 Risk Management Commandments You’re Breaking Every Day

Project Risk Coach

I fear that many project managers live by the letter of the law and may fail to gain the true benefits of risk management. These individuals are too concerned with checking boxes and making the risk management processes overly complex. Thou shalt not make risk management complicated. Wise project managers tailor their risk management plan to each project. Thou shalt not create a risk register longer than War and Peace.

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30 Quick Risk Evaluation Tips

Project Risk Coach

” In this article, I share 30 risk evaluation tips to help you tap into your genius. One of the top reasons for evaluating risks is to determine which risks are most significant. Always perform the qualitative risk assessment. Determine if organizational assets such as a risk register template and probability/impact rating scale are available to jump-start your evaluation. Be sure to update the risk register each time you evaluate your risks.

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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. 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.

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. We can assess and prioritize our risks, allowing us to make better use of our limited time. Let's look at the cost of poor risk management through the life of Tom Whitley. Tom was promoted to program manager after only 12 months with the company.

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How to Identify Scope Risks

Project Risk Coach

8 ways to identify scope risks Some project managers struggle to identify scope risks. Second, individuals may not know HOW to identify scope risks. Either way, the failure to identify (and manage) scope risks can be costly. What are Scope Risks? Risks are uncertain events or conditions, that if they occur, will have a positive or negative effect on the project objectives. What are some examples of scope-related risks?

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7 Things You Should Not Do When Identifying Project Risks

Project Risk Coach

Known and unknown, internal and external, upside and downside—risks are woven into the fabric of every project. Project managers can waste a lot of time due to poor risk management. In today’s article, let’s look at seven things not to do when identifying project risks. Dan the project manager just kicked off a new project, adding stress to his life. He was already managing three projects. However, risk waits for no one.

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Project Management Process & Phases

ProProfs Project Management

Project Management is the art of coordinating resources and directing working groups to execute components of work so that each group delivers components that can be tied together into a wholesome deliverable (contracted scope of work) within schedule and budget. — Project Management Institute. In simple terms, the Project Management process is the art of managing all components of a project from starting to closure using a structured scientific methodology.

Getting Results – The Bottom Line of Risk Management

Project Risk Coach

Some portfolio, program, and project managers make a big fuss over risk management. Each year, our senior management team would meet with a credit rating agency to share our goals, strategies, and progress. The presentation included what we were doing for enterprise risk management. They have a risk management plan. They regularly identify, analyze, and respond to risks. Project managers can be guilty of talking a good game too.

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7 Things You Ought to Know About Identifying Risks

Project Risk Coach

Increase Your Risk Management IQ Every project manager deals with risks. Allow me to share seven things you ought to know about identifying risks. Project managers must address unrealistic time frames where failure seems unavoidable, scope creep, ambiguous requirements, delays from third parties, and the lack of required skills, to name a few. How do we manage risks and the causal factors? What You Need to Know About Identifying Risks.

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How to Improve Results With Better Risk Statements

Project Risk Coach

Vague risk statements lead to poor risk response planning. When organizations or project teams fail to respond to significant risks (i.e., Risk management starts with identifying risks and writing clear risk statements. Why do people define risks poorly? Allow me to share some simple tips that can improve your ability to write clear risk statements. Test Your Risk Statements. ” But the smoothies are the cause of the risk.

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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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The Battle Between Process and Progress

Girl's Guide to PM

As Project Managers, we’re all familiar with process. In fact, sometimes it can feel as if a project manager’s world is but a never-ending universe of interlocking processes and procedures. But what happens when the need to follow organisational process inevitably conflicts with making project progress? After all, project managers are not process monkeys. We are not process workers, production line operations – or trained gerbils.

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How to Right-Size Your Risk Management Plan

Project Risk Coach

One reason a project manager may have a bad reputation is bloated project plans. While I’m a fan of planning, let’s use some common sense and right-size our risk management plans. A risk management plan for the Mercedes-Benz Stadium will be much larger than a plan for a Southern Living Idea House. Why is that some project managers have over or undersized risk management plans? Risk management plans typically include: Project risk background.

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How to Right-Size Your Risk Management Plan

Project Risk Coach

One reason a project manager may have a bad reputation is bloated project plans. While I’m a fan of planning, let’s use some common sense and right-size our risk management plans. A risk management plan for the Mercedes-Benz Stadium will be much larger than a plan for a Southern Living Idea House. Why is that some project managers have over or undersized risk management plans? Risk management plans typically include: Project risk background.

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