PMBOK® Seventh Edition Principles and Risk Management

Project Risk Coach

In this article, let's look at each principle and why each one matters with respect to managing risks. Optimize Risk Responses 11. For example, one of the PMBOK® principles is to optimize risk responses. Risk Management Implications Projects invariably have difficult situations.

2022 195

30 Quick Risk Evaluation Tips

Project Risk Coach

In this article, I share 30 risk evaluation tips to help you tap into your genius. Use some of these tips to help you and your project teams determine which risks matter most. One of the top reasons for evaluating risks is to determine which risks are most significant.

2022 195
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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.

Stakeholder Influencing Process [Video]

Project Risk Coach

In this video, Colin Gautrey shares his insights on how to influence stakeholders. The post Stakeholder Influencing Process [Video] appeared first on If you can’t see this video in your RSS reader or email, then click here. Often times, the problems we encounter as project managers are not technical; they are interpersonal issues. Some project managers fail to reach their potential due to poor stakeholder management.

Six Essential Requirements of an Influencing Strategy

Project Risk Coach

This is a guest post from Colin Gautrey, an author, trainer and executive coach who has specialized in the field of power and influence for over ten years. He combines solid research with deep personal experience in corporate life to offer his audiences critical yet simple insights into how to achieve results with greater influence. He is the creator of the Stakeholder Influencing Masterclass. So, does your influencing strategy address all of these adequately?

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? 7 Ways to Be a Project Risk Management Evangelist.

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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. Therefore, having a project risk register on hand and ready is essential in managing risk.

2021 327

14 Common Project Risks (+ more)

Rebel’s Guide to PM

Risks matter. That’s the point of risk management: thinking about what might go wrong before it does, so you can put a plan together to deal with it if it does. In this article we’ll look at common project risks so you can start filling up your risk log and making the right plans.

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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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.

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.

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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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.

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 195

Risk Management with Microsoft Project

MPUG

A recent survey of Microsoft Project User Group (MPUG) members found that one top concern for project managers using MS Project was how to manage issues and risks within the Project ecosystem. Even the terms ‘risk management’ or ‘schedule risk analysis’ are open to interpretation.

Risk 87

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.

2016 200

The Virtuous Cycle of Trust and Influence

Leading Agile

In today’s environment, organizations are striving for business Agility, or else they risk being put out of business. In today’s blog, a continuation of the first in this two-part series, we’ll talk about building trust and influence, and initiating the trust-influence loop.

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.

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Creating a Risk-Adjusted Backlog

Mike Griffiths

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.

Risk 81

10 Things Successful Project Managers Never Tolerate

Project Risk Coach

Project managers shape and influence their project culture for good or bad. The post 10 Things Successful Project Managers Never Tolerate appeared first on Project Risk Coach. Leadership Project Integration Management Project Risk ManagementProject managers are not just managers.

2022 311

PMOs Shifting from Watchdogs to Strategic Enablers

Project Risk Coach

Third, some PMO managers lack authority and relational influence in the organization. Engage in Strategic Risk Management Strategic risk management is a process for identifying, analyzing, and managing risks most critical to the achievement of your organization's goals.

2022 370

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.

Risk Management Strategies for Financial Institutions

Brad Egeland

When managing risks, several financial institutions tend to focus their energy and time on scheduled risk management. What Is Risk Management? Risk Management Strategies Investments involve some amount of risk.

Creating a Risk Register: All You Need to Know

Epicflow Blog

Project management goes hand in hand with uncertainty and risks. The present-day disruptions caused by the pandemic bits and pieces, military conflicts, and geopolitical tensions can only increase the number of risks that projects will be exposed to. . How to Create a Risk Register?

2022 52

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 209

The Stakeholder Performance Domain

Project Risk Coach

In this article, we will explore this domain, why it's critical to projects, how to engage stakeholders, and some common stakeholder risks. When these stakeholders discover the project, they may use their power to influence the project.

2022 212

What can a project manager do then they need to influence a stakeholder but they don’t have direct access to the stakeholder? [Question]

Project Risk Coach

What can a project manager do then they need to influence a stakeholder but they don’t have direct access to the stakeholder? Answer this question on my blog and join the discussion → The post What can a project manager do then they need to influence a stakeholder but they don’t have direct access to the stakeholder?

2016 150

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.

2018 150

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.

2017 131

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.

Risk 71

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?

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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?

Managing Risk from Every Level of Your Organization

Liquid Planner Leadership

This notion of contingency analysis shows that when planning or budgeting, we must account for foreseeable risk and factor in the optimal route required with the minimum number of possible detours. Risk is not solved with a calculation. Are there unexpected risks now emerging?

2022 77

10 PMO Problems and How to Manage Them

Project Risk Coach

How to manage: Identify high-powered, high-influence individuals who have a tendency to undermine initiatives. Be sure to identify and evaluate your risks in light of your project objectives. Develop and implement the risk response plans.

2021 227

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

2019 255

What’s the Risk Analysis Process in Project Management? – Clarizen

Planview

Risk management is one of the core project knowledge areas, an essential and ongoing process which can be described as the methodical process of identification, analysis and response to project risks involving several major phases which are similar to all projects.

2021 78

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.

Have You Left Anything Out of Your Project Management Plan?

Project Risk Coach

Project Risk Management Plan Define how you will identify, evaluate, manage, and control risks. Project Stakeholder Management Plan Define how you will identify and record stakeholders, interest, needs, power, and influence. appeared first on Project Risk Coach.

2021 318

8 Ways You Can Better Respond to Unrealistic Demands

Project Risk Coach

This is a guest post from Colin Gautrey , an author, trainer and executive coach who has specialized in the field of power and influence for over ten years. Until you ask why, you will be at risk of responding incorrectly. What risks does this new demand bring?

2021 329

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.