Seven Project Management Influencers to Watch

Project Risk Coach

Perhaps these individuals are influencing you through a blog, online videos, online courses, or books. Grab a cup of coffee as I share seven influencers that I follow. Another thing I appreciate about Kiron is that he not only is a Project Management Professional (PMP), he is certified as a Risk Management Professional (PMI-RMP), along with other certifications. His perspective on project and risk management is balanced and practical.

Creating a Risk-Adjusted Backlog

Leading Answers

This article explains what a risk-adjusted backlog is, why they are useful, how to create one and how teams work with them. What is a Risk-Adjusted Backlog? The Economics of Risk Management. Negative risks are called threats, and positive risks are called opportunities.

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Stakeholder management: Your plan for influencing project outcomes

Moira Alexander

Stakeholder management is a key facet of project management — and one of high risks and high rewards. When key individuals and team members are informed and on task, your project runs smoothly. But when those impacted by or have an impact on your project are left out of the loop, your project can quickly fall apart. Having and executing a sound stakeholder management strategy can drastically improve individual, team, project, and company performance.

Influencing the eternal optimism of a delivery team

Kiron Bondale

Poor risk management. When I teach agile fundamentals classes, I frequently emphasize the importance of inspection and adaptation. Teams which don’t use feedback loops with their products and their processes should not consider themselves to be very agile. For those teams which use an iteration-based cadence for their delivery such as those who have implemented the Scrum framework there have multiple feedback loops to help them improve.

Change management helps when implementing risk responses

Kiron Bondale

A student in a project management class I taught shared the concern that it was very hard for her to get risk responses implemented. This is a fairly common problem and is likely one of the reasons that the volunteers who updated the PMBOK Guide, Sixth Edition added Implement Risk Responses as a new process within the Project Risk Management knowledge area. Risk management requires investment from stakeholders outside of the project team to really make a difference.

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Seven Project Management Influencers to Watch

Project Risk Coach

Perhaps these individuals are influencing you through a blog, online videos, online courses, or books. Grab a cup of coffee as I share seven influencers that I follow. Another thing I appreciate about Kiron is that he not only is a Project Management Professional (PMP), he is certified as a Risk Management Professional (PMI-RMP), along with other certifications. His perspective on project and risk management is balanced and practical.

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.

2016 193

How to Be a Project Risk Management Evangelist

Project Risk Coach

The Project Management Institute says, "high-performing companies manage risk in conjunction with projects and programs far more often than low performers do." How can you help your company manage risks and become a high performer? Let's look at ways to become a project risk management evangelist. The lack of senior management support is one of the primary barriers to effective organizational risk management. 7 Ways to Be a Project Risk Management Evangelist.

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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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Don’t ignore appetite when it comes to risk response!

Kiron Bondale

The author asked what needs to be considered when planning risk responses. The majority of the answers offered focused on characteristics of the individual risks themselves such as their probability, impact, ability to be responded to and so on. But what we should consider is not just the specifics of a risk but also the context in which that risk exists. Those with a higher appetite can reduce the effectiveness of the overall project risk management approach.

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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.

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? I've heard countless debates about whether project manager can control risks.

How to Be a Powerful Risk Management Evangelist

Project Risk Coach

Mark Langley, President and CEO of the Project Management Institute (PMI), penned a great article entitled Using Project Management to Reduce Risk. Indeed, “high-performing companies manage risk in conjunction with projects and programs far more often than low performers do.” If this is true, how can we help organizations adopt risk management? Mr. Langley encourages us to play the role of both champion and sponsor of risk management.

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How to Build a Robust Project Risk Culture [8 Steps]

Online PM Courses

A robust risk culture goes beyond having a strong basic risk management process. Some of my readers may hope to influence the risk culture of their whole organization. For you, the right aspiration is to build a positive risk culture within your project. But explicitly, we’re going to focus on how your project that can create and impose risk management discipline on a blank project canvas. What is Risk Culture?

Risk 101

Using SWOT Analysis for Risk Identification and Risk Management

nTask

Gary David Cohn once said, “If you don’t invest in risk management, it doesn’t matter what business you’re in, it’s a risky business.”. Project manager or not – professionals on all levels have to interact with researching, identifying, and resolving risks. Organizations are struggling with risks on so many fronts including cybersecurity, underwriting, credit, asset and liability, investment, liquidity and more. Risk Identification Techniques.

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Focus on individual impacts when communicating risks!

Kiron Bondale

A recent article by Uzma Khan and Daniella Kupor in Harvard Business Review adds support to the argument for keeping things simple when it comes to communicating risks. This biases us against taking positive risks and avoiding negative ones.” ” How might this sort of bias be relevant to our understanding of project risk management? As the authors state “ …when it comes to helping people evaluate risk, less is more.

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Risk Identification Workshops: An Overview

Project Health Check

Risk Management is one of the well established fundamentals of Project Management. Whatever system or tool you use, the basics of rating risks with some degree of severity and impact is well understood, and then doing something to stop it (because they usually are threats). But I have a challenge for you: look back over your last Project and consider - how many of the issues that occurred along the way were from impacted Risks that were identified on your Risk Log?

5 Ways You May Unintentionally Create Schedule Risks

Project Risk Coach

The Problems with Crashing, Fast Tracking, and other Schedule Compression Techniques How do project managers unintentionally create schedule risks? As we work to develop and compress our schedules, let’s be aware of the common causes of risk. We will be in a better position to manage the risk and deliver our projects on schedule. 5 Causes of Schedule Risk. It can be a great technique — just be aware — crashing may increase your risk.

2016 207

5 Ways You May Unintentionally Create Schedule Risks

Project Risk Coach

In this article, let’s look at five causes of schedule risks and ways to avoid or reduce these risks. As we work to develop and compress our schedules, let’s be aware of the common causes of risk. We will be in a better position to manage the risks and deliver our projects on schedule. 5 Causes of Schedule Risk. Just be aware that crashing may increase your risk. The post 5 Ways You May Unintentionally Create Schedule Risks appeared first on.

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The Complete Guide to Project Risk Assessment (Free Template)

Workamajig

Project risk assessment is an essential part of any project management plan. This guide shares 6 key steps in assessing project risk. So much of project success depends on spotting and eliminating these risks. How exactly do you figure out which risks to look out for and which to ignore? And once you’ve spotted these risks, how do you create plans to counter them? I’ll answer all these questions and more in this guide to project risk assessment.

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 Risk a Feelings,” George F.

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What Is Risk?

Herding Cats

Risk is the effect of uncertainty of objectives. In the context of risk management, uncertainty exists whenever the knowledge or understanding of an event, consequence, or likelihood is inadequate or incomplete ? ISO 31000:2009, ISO 17666:2016 and ISO 11231:2010 Risk is Uncertainty that Matters. Risk can be the potential consequence of a specific outcome that affects the system's ability to meet cost, schedule, and/or technical objectives. IT Risk Management.

6 Easy Ways to Manage Group Think and Risk at Work

Girl's Guide to PM

It’s an edited extract from his book Risk Happens ! Group Think Introduces Risk. Therefore, with dissent discouraged, groups tend to endorse higher risk decisions than individuals would. Risky shift is the difference between the average risk taken by individuals and the risk taken by the group. This can generate either a risky shift towards a higher risk position or, equally, a cautious shift towards a more risk-averse stance.

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Ask a PM: How to Manage Dependencies and Assess Risks

LiquidPlanner

How do you recommend managing dependencies that put the project at risk? You can use the same types of dependencies on your schedule to record things that might influence the project from the outside. It’s the dependencies that are out of the project and fall into the Company category that have the greatest possibility of presenting a risk to your work. These are things that are not in your control and that you are unable to fully influence yourself.

2018 88

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. Hammonds, Risk Analysis 14.5

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Learn How To Realize Positive Risk Response Strategies (Opportunities)

iZenBridge

And, sometimes cautious responses to project risks help in realizing opportunities. But, many of us believe that risks create an adverse impact on projects; it is not always true. Risk can be positive also. Now the question is – what is a positive risk? It is something like an opportunity is there, but we have some risk to realize it. If these risks occur, you will get gains or benefits in the projects. And, we need risk responses to realize these risks.

7 Steps to Write a Risk Management Plan For Your Next Project (With Free Template!)

Planio

Get your free template and create your own risk management plan. We have designed an easy to use Risk Management Template for you to use for free. But ignoring potential risks isn’t just being overly optimistically. of all project failures are due to undefined risks! The basics: What is risk management, anyway? What sort of risks do you need to think about? For each risk, there are 3 levels of knowability to consider. External risks.

2020 78

Managing Uncertainty, Risk, Threat, and Opportunity

Herding Cats

I received a book over the Holidays - Managing Project Risk and Uncertainty: A Constructively Simple Approach to Decision Making , Chris Chapman and Stephen Ward. This is a seminal work on risk management in the presence of uncertainty. Sometime the implcations of uncertanty are risk in the sense of significant potential unwlecome effects on orgainzation performance. . Withoitn these estimates thetre is no Risk Management. NoEstimates Books Estimating Risk

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Vendor Showcase Recap: Making Light Work of Schedule Risk Analysis – By Barbecana

MPUG

Please find below a transcription of the audio portion of John Owen’s showcase session, Making Light Work of Schedule Risk Analysis, being provided by MPUG for the convenience of our members. I’m going to talk about schedule risk analysis. This is the contingency for risk.

Vendor Showcase Recap: Making Light Work of Schedule Risk Analysis – By Barbecana

MPUG

Please find below a transcription of the audio portion of John Owen’s showcase session, Making Light Work of Schedule Risk Analysis, being provided by MPUG for the convenience of our members. I’m going to talk about schedule risk analysis. This is the contingency for risk.

The Naive Notion that Agile Mitigates Risk

Herding Cats

The post Top 5 Ways Agile Mitigates Risk is one of those posts that's not wrong in what it says at the detail level - more or less, but is not right in principle. Agile Mitigates Risk - is not correct. Agile provides rapid identification of risk. First let's start with risk, risk management, and risk management frameworks. First all risk comes from uncertainty, Uncertainties are thing we cannot be certain about. What is risk management?

Guessing and Bayes

Musings on Project Management

In my posting prior to this one, I gave an example of two probabilities influencing yet a third. To do that, I assumed a probability for "A" and I assumed a probability for "B", both of which jointly influence "C". Bayes estimate Risk Management StatisticsBut, I gave no evidence that either of these assumptions was "calibrated" by prior experience.I just guessedWhat if I just guessed about "A" and "B" without any calibrated evidence to.

2020 163

What are Project Assumptions?

Project Risk Coach

There may be inherent risks when we make project assumptions. Is the flipper a magician who is capable of influencing how the coin lands? Assumption analysis can help us discover the facts or supporting information when identifying project risks and later when evaluating risks. […] The post What are Project Assumptions? appeared first on Project Risk Coach. 2=Planning 4=Control Project Risk Management

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Risk Management in Five Easy Pieces, with Apologies to Jack

Herding Cats

Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management. Risk management is essential to the success of any significant project. The emerging risks that can be identified early in the project that impact the project later are often termed “known unknowns.” These risks can be mitigated with a good risk management process. Risk management is proactive, taking preventative actions rather than taking corrective actions.

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Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

Research clearly shows the root causes of most software projects cost and schedule overruns and technical shortfalls comes from poor risk management. Most post-mortems of these software disaster projects have shown that their problems would have been avoided or strongly reduced if there had been an explicit early concern with identifying and resolving their high-risk elements. Now To Risk Management. Risk is the effect of uncertainty of objectives.

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Will you be a champion for team psychological safety?

Kiron Bondale

How you go about doing that is context-specific and will depend heavily upon your powers of persuasion as well as the degree of influence you have over them. Facilitating Organization Change Project Management personal development Psychological Safety Risk management team building

2020 195

Risk Management: PMP Study Guide (PMBOK 6th Edition)

ExamsPM

Project Risk Management includes all the processes involved in risk identification, regulation, and mitigation on a project. The objective is to increase the likelihood of positive risks (opportunities) and decrease the likelihood of negative risks (threats). Risk factors – When looking at risks, one should determine. The anticipated frequency of risk events from the source (how often). Identify Risks. Plan Risk Responses.

2017 38

Natural stupidity

Musings on Project Management

If you're a project manager or business manager, then you encounter these influences routinely. human factors Risk Management"We study natural stupidity rather than artificial intelligence" Amos Tversky Tversky--now deceased--was a partner with Daniel Kahneman, who together wrote some of the most influential papers about biases in our observations and the biases that affect decision making under uncertainty.

2020 163

PMP interview Questions

iZenBridge

What are organizational influences? What is a risk and how is it different from an issue. Can a risk be beneficial? How did you tackle these uncertainties/risks? What are the types of risks you may encounter in a project? Are there any positive aspects of the risk identification process? Domain Based. What is a baseline, how is it use while creating project management plan? Explain with examples. What is a project charter?

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Stakeholder Engagement for Your Project Success

Epicflow Blog

The success of any project is dependent on a number of factors such as clear goals, realistic project schedule, budget, resource, risk, and uncertainty management. Proper Stakeholder Management Ensures Risk-Free Project Delivery.

2020 58