Remove Finance Remove Performance Measurement Remove Process Remove Risk Management
article thumbnail

What Is a Balanced Scorecard? (Example & Template Included)

ProjectManager.com

A balanced scorecard is a strategic management performance metric. The balanced scorecard is also a means to measure and provide feedback to businesses and organizations. It’s a common management tool worldwide, used across industries, including government and nonprofit organizations. What Is a Balanced Scorecard?

article thumbnail

Risk Management Frameworks in IT: A Comparative Analysis

Wrike

The importance of risk management in IT cannot be overstated. However, with this reliance comes the inherent risks of cyber threats, data breaches, and operational disruptions. Once the risks have been identified and assessed, organizations must develop and implement strategies to manage and mitigate them.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Biases in Project Management and How to Remove Them

Herding Cats

There is always lots of complaining about the biases introduced into managing projects and making the estimates needed to make project decisions. Optimism bias - a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. System One - automatic.

article thumbnail

Fallacy of the Week

Herding Cats

Have sufficient Contingent Budget and Management Reserve to cover the cost variances from the naturally occurring cost behaviors, event-based impacts on cost, or cover things that go wrong with the Risk Cost coverage. Have sufficient Technical Performance Measures margin to cover the required performance measure of the Capabilities.

article thumbnail

Decision Analysis - Ordinal and Cardinal Measures

Herding Cats

This method is the Analytic Hierarchy Process (AHP). Brown and his book The Handbooks of Program Management: How to Facilitate Project Success with Optimal Program Management and my review of the same book. AHP is based on the principle that all measurements are relative. The Core Issue with Ordinal Measures .

article thumbnail

Biases in Project Management and How to Remove Them

Herding Cats

There is always lots of complaining about the biases introduced into managing projects and making the estimates needed to make project decisions. Optimism bias - a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. System One - automatic.

article thumbnail

Misquotes of Deming

Herding Cats

It is wrong to suppose that if you can’t measure it, you can’t manage it – a costly myth. This community of program controls, cost analyst, earned value managers and program managers is accountable for providing information to decision makers on enterprise and complex projects and programs. Technical Performance Measures.