article thumbnail

Managing Risks and Controlling Projects: How Data-Driven Project Management Come in Useful for Multi-Project Environments

Epicflow Blog

This article is inspired by the webinar featuring Epicflow co-founder Jan Willem Tromp and professor Mario Vanhoucke based on his latest book “The Illusion of Control: Project Data, Computer Algorithms and Human Intuition for Project Management and Control”.

article thumbnail

Do We Need Risk Management in Agile Projects?

MPUG

They are stories (or tasks) that the team creates for the sole purpose of exploring an issue to increase their understanding, reduce uncertainty, and improve estimation and decision-making. So, a retrospective can sharpen the team’s risk management practices and therefore reduce risk through the project life cycle.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is Project Management

MPUG

The PMI also notes that a project is typically different from ongoing operations or business as usual and that it requires the coordination of various resources and activities in order to achieve its objectives. From start to finish, a project usually goes through 5 phases, called the Project Life Cycle.

article thumbnail

Overview of the PMBOK® Guide Seventh Edition – Lesson 3 Transcription

MPUG

You may wish to use this transcript for the purposes of self-paced learning, searching for specific information, and/or performing a quick review of webinar content. You may watch the recording of this webinar at your convenience. There may be exclusions, such as those steps included in product demonstrations. Melanie: Hello.

PMI 59
article thumbnail

How to Create an Effective Probability and Impact Matrix

Project Pulse Journal

Step 3: Prediction Precision - Assign Probability Values - For each identified risk, estimate its likelihood (i.e., Use a Likert-type scale from 1 to 5 (or a scale suitable for your project), where 1 is rare, and 5 is most likely that the risk will happen. Frequently Asked Questions How do you create a risk matrix for a project?

article thumbnail

Project Requirements Management – Part 1: Introduction to Requirements Management Transcription

MPUG

You may wish to use this transcript for the purposes of self-paced learning, searching for specific information, and/or performing a quick review of webinar content. You may watch the recording of this webinar at your convenience. And welcome to the first of three webinars on Project Requirements Management.

article thumbnail

Overview of the PMBOK® Guide Seventh Edition – Lesson 1 Transcription

MPUG

Please find below a transcription of the audio portion of Jeff Bongiovani’s webinar, Overview of the PMBOK® Guide Seventh Edition – Lesson 1, being provided by MPUG for the convenience of our members. You may watch the recording of this webinar at your convenience. Estimating has not changed. Melanie: Hello, welcome.

PMI 59