Project Initiation: How to Start Your Project Off Right

ProjectManager.com

But if a project isn’t initiated correctly, then those hopes and expectations aren’t anchored in a solid foundation, and your project can drift off course and head for disaster. What Is Project Initiation? The first being project initiation. What is project initiation?

12 Sure-Fire Ways to Improve Project Risk Management

Project Risk Coach

In a one-on-one meeting, I asked Mike how he was identifying, analyzing, and managing his risks. His response revealed his belief in risk management but a lack of actual application with his teams. Warren Buffett says, "Risk comes from not knowing what you are doing."

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How to Communicate Risks

Project Risk Coach

And one of the most important things to communicate is your risks. How do you communicate risks? Communicating Project Risks 1. As you initiate your projects, conduct interviews with the stakeholders and ask: What are your needs? Analyze Your Risks We cannot communicate the things that we don’t understand. As risks are identified, assign a risk owner. Work with the risk owner to define the risk : Risk. What is the risk?

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Five Ways to Reduce Risk Exposure Early

Project Risk Coach

When is risk exposure greatest in a project? Let's look at how to reduce risk exposure early in your projects. Why Risk Exposure Is Greatest in the Beginning So, why is your risk exposure greatest in the beginning? just kidding) Here are five activities that you can undertake to reduce the risk exposure early. […] The post Five Ways to Reduce Risk Exposure Early appeared first on Project Risk Coach.

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How to Initiate a Project Steering Committee

Project Risk Coach

Initiate a Project Steering Committee Sometimes, the person responsible for project management (e.g., risk management planning process). The post How to Initiate a Project Steering Committee appeared first on Project Risk Coach.

Managing Your First Strategic Initiative

Arras People

Strategic initiatives aren’t the same as typical projects—they tend to be considerably more complex and at times have hands on involvement from the top-level of management in the business. However a strategic initiative , like a new product launch, can be driven by the reaction of the business to dramatic changes in market conditions or regulatory pressure and is likely to be stakeholder led and have considerably more visibility within the business.

No more initial estimates? NOOOOOOOOOOO!

Kiron Bondale

Tagged: communications , improving project management , Process compliance stupidity , Project scheduling , Risk management , Stakeholder analysis , Valuable projects. Facilitating Organization Change Process Peeves Project Management communications improving project management Process compliance stupidity Project scheduling Risk management Stakeholder analysis Valuable projectsIt’s unfortunately an all too familiar scenario.

Are You Tired of Missing Big Project Risks? 3 Ways to Stop It

Project Risk Coach

It was always interesting to watch—the best project managers were the ones who had a habit of identifying risks, both threats and opportunities. And these individuals did not perform the risk identification just once at the beginning of their projects. Rather, they had a habit of reevaluating their projects with an eye toward new risks. Wise project managers know that there are unknown risks lurking in every corner. Three Ways to Stop Missing Top Project Risks.

2017 219

Initiating Change Sucks

Ganttic

Often, taking action to initiate change isn’t a part of your routine or even your job description or tasks. Initiating change includes noticing an issue. You also know that you have tasks that you need to complete regardless of the change you are trying to initiate. What's even suckier, people can blame you since you were the one that initiated the change. While many variables can make you think about initiating change, most of them will make you feel strained.

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.

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How to Unite Enterprise and Project Risk Management

Project Risk Coach

Learn to Better Manage Enterprise Risks Through Project Risk Management Many organizations have adopted enterprise risk management (ERM) as a way to make better decisions, get stronger operating results, and meet regulatory requirements. However, few organizations have yet to actually unite the enterprise and project risk management efforts. What is Enterprise Risk Management? You would receive an inspection report listing all of the issues and risks.

Risk 227

How to Unite Enterprise and Project Risk Management

Project Risk Coach

Learn to Better Manage Enterprise Risks Through Project Risk Management Many organizations have adopted enterprise risk management (ERM) as a way to make better decisions, get stronger operating results, and meet regulatory requirements. However, few organizations have yet to actually unite the enterprise and project risk management efforts. What is Enterprise Risk Management? You would receive an inspection report listing all of the issues and risks.

Risk 209

Lift Positive Risk-Taking

MPUG

Most people hear “project risk” and they think of an adverse event or threat that may occur. Regardless, the term carries a negative connotation, but this common belief means you may be missing out on positive risks or opportunities that potentially have a beneficial effect on your project’s deliverables and goals. When you are presented with a risk (and most projects have inherent positive risks), don’t try to avoid it. Articles positive risk

How to Communicate Risks

Project Risk Coach

How do you communicate risks? Some project managers rarely mention risks; others bore people to tears with too much information. And one of the most important things to communicate is your risks. How can we communicate risks more effectively? Communicating Risks. As you initiate your projects, conduct interviews with the stakeholders and ask: What are your needs? Analyze Your Risks. As risks are identified, assign a risk owner.

Risk 162

What is Project Risk?

Project Management Resource Network

Project risks, what are they and how do you identify them? Project risk is uncertainty of something impacting the project. It could have a positive or negative effect on the project’s objectives if the risk happens. People tend to think of risks as something negative and to avoid. This negative classification of a risk would mean it is a threat. But risks can also be opportunities. A risk is something which is uncertain and the outcome is not known.

Business Risks in a Portfolio of Investments

Leading Agile

Is EACH initiative a good one, aligned with our strategy and a sound investment? How do we minimize the opportunity costs of pursuing one initiative before pursuing another? How do we manage the risk of our investments, individually and collectively?

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? What is Project Risk Management?

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How To Better Your Qualitative Risk Analysis

Project Risk Coach

Last week, we looked at why we evaluate risks — it saves time and money by allowing us to focus on the risks that matter most. Before we look at HOW to improve your qualitative risk analysis, allow me to share one more quick example of WHY it’s important. Yes, the inspection cost us money, but what are our risks without the inspection? There is always a cost of risks, now and later. So, how can we improve our risk analysis? Risk B: 4 x 5 = 20.

2016 206

5 Major Benefits of Adopting an Effective Project Portfolio Management and PMO Initiative

Keyedin

Minimizing the risks to individual projects in terms of business impact. Making sure that success not only happens today, but is more likely with future project initiatives. 2 Minimize Risk. PMO Benefits Bucket two is the ability to avoid or reduce your exposure to risks. There are several categories of risks, including financial, governance, resource utilization, and misdirected efforts.

Using Technology to Streamline Project Initiation Instruction

MindGenius

Using Technology to Streamline Project Initiation Instruction. The Project Initiation Instruction (PII) – or the Definition Document – is one of the most important artifacts in project management because it provides a foundation for the project. How will you test the quality of the products or services you are delivering and how will you keep on top of risks, issues and changes to scope? What are the risks, issues and constraints?

12 Good Reasons You Are Struggling With Small Projects

Project Risk Coach

In general, smaller projects have less risk. You are not performing project risk management. Yes, smaller projects typically have less risk. This does not mean there are zero risks. Risk management should not take much time, but be sure to integrate risk management in your project activities. Simple qualitative analysis should be sufficient for evaluating the risks. 1=Initiation 2=Planning 3=Execution 4=Control Project Risk Management

2019 188

Shuffle up and deal with qualitative risk analysis!

Kiron Bondale

user stories), planning poker can also be used to facilitate other types of decision making so why not use it for qualitative risk analysis? A common approach to this process is to utilize a Likert scale from very low to very high or even just low, medium and high to assess the probability and impact of identified risks. One concern with this is that at the end of the risk analysis workshop the team likely ends up with a significant volume of high probability or impact risks.

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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.

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How to Connect Emerging Risks, Strategies, and Project Management [Snippet]

Project Risk Coach

How to Connect Emerging Risks, Strategies, and Project Management. Is your organization identifying and managing emerging risks? How have researchers and farmers responded to this risk? Emerging risks were recognized years ago but management has failed to take appropriate steps to mitigate these enterprise risks. Once senior management has clearly defined their long-term and short-term goals, projects may be initiated to support the operational strategies.

2016 203

5 Major Benefits of Adopting an Effective Project Portfolio Management and PMO Initiative

Keyedin

Minimizing the risks to individual projects in terms of business impact. Making sure that success not only happens today, but is more likely with future project initiatives. 2 Minimize Risk. PMO Benefits Bucket two is the ability to avoid or reduce your exposure to risks. There are several categories of risks, including financial, governance, resource utilization, and misdirected efforts.

Ask the Right Questions at the Right Time

Project Risk Coach

Ask the Right Questions at the Right Time Initiating Process Group Why are we doing this project? What are the most significant risks ? The value of the charter process is engaging stakeholders, discussing the issues, resolving conflicts, and getting agreement as you initiate the project. Read: How to Develop a Project Charter. […] The post Ask the Right Questions at the Right Time appeared first on Project Risk Coach.

2019 172

Risk Management Plan - What is the Process?

Brad Egeland

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? First, you must identify the risk before you can move to analyze and establish the proper risk mitigation steps. To put this into perspective, you will need to follow a set of steps to draw up an adequate risk management plan.

Why Stakeholder Analysis is Important

Project Risk Coach

Allow me to introduce you to two powerful tools: the stakeholder classification grids and the stakeholder engagement assessment matrix. […] The post Why Stakeholder Analysis is Important appeared first on Project Risk Coach. 1=Initiation 2=Planning Project Stakeholder Management

2019 243

Best Practices for Your Project Management Initiation Phase

Wrike

These are: Initiating, Planning, Executing, Controlling, and Closing. For this article, we tackle the best practices for the first step in the lifecycle: the project management initiation phase. What is the Project Management Initiation Phase? Typically the initiation phase is where a project sponsor, in tandem with a project manager, clarifies three main things: the project’s objectives , scope , constraints.

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Risk Management Examples: 9 Behind the Scenes Stories

PM Basics

It is hard to imagine what you can do with a project risk. What can you, as a project manager, do to mitigate a risk? Adding some risk reserves and removing requirements from the scope are not the only options. I want to share some stories of risk management with you.

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Risk Register Example – All You Need to Know About It

PM Basics

Risk Register is the most important document in the project management. Risk Register is a document that contains the information about identified risks, results of Risk Analysis (impact, probability, effects), as well as Risk Response Plans. Risk Category.

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What You Need for a Great Project Charter

Project Risk Coach

Wise sponsors invite key stakeholders to the initial meetings to discuss the project charter and to obtain their input. When sponsors choose to ignore stakeholders or purposely keep them out of the charter process, risk increases. Online Course: The What, Why, & How of Powerful Project Charters One of the best ways to reduce communication risks early in your projects is by writing project charters. 1=Initiation Project Integration Management

2019 249

All Project Data is at Risk

Brad Egeland

But by far the more common scenario is for me to go into an organization – again, however big or small that may be – and either work individually or lead a group of their employees on a project, process re-engineering task, software rollout, new initiative, etc. Summary The bottom line here is all data is at risk. We must calculate it as a risk on every project we manage. But the bottom line is that it is all at risk.

How To Manage Fixed Date Projects

Project Risk Coach

Include a problem statement, goals, deliverables, assumptions, constraints, exclusions, high-level risks, stakeholders, and team members. Complete the initial risk identification and assessment. The contingency reserve is based on known residual risks.

2018 230

10 Ways to Engage Project Stakeholders

Project Risk Coach

As you are initiating your projects, start identifying your stakeholders. I invite key stakeholders to my initial project meetings as we are developing the project charter. The post 10 Ways to Engage Project Stakeholders appeared first on Project Risk Coach. 1=Initiation 2=Planning Project Stakeholder ManagementDo you have a stakeholder engagement plan? Have you stopped to think about the diverse needs of your stakeholders?

2019 195

9 Simple Ways to Quickly Start a Project

Project Risk Coach

1=Initiation 2=Planning Project Risk Management Project Scope ManagementI wish I had a dime for every time that I have been handed a project with a deadline of yesterday. You've been there too? Well, let's talk about some practical steps that we can take to quickly start a project. Jumpstarting a new project requires time and focus. Clear your calendar as much as possible. Secure a project administrator to help you with your administrative tasks.

2018 162

5 Powerful Ways to Improve Your Project Approval Process

Project Risk Coach

For example, selection criteria might include: 1) strategic importance, 2) regulatory compliance, 3) financial viability, and 4) business and technical flexibility to accommodate future changes, to name a few. […] The post 5 Powerful Ways to Improve Your Project Approval Process appeared first on Project Risk Coach. 1=Initiation Project Integration ManagementMany organizations have a Project Board that approves programs and projects resulting in a project portfolio.

How to Develop a Project Charter

Project Risk Coach

A project charter is a "document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to apply organizational resources to project activities" (PMBOK ® Guide—Sixth Edition. Page 715). […] The post How to Develop a Project Charter appeared first on Project Risk Coach. 1=Initiation Project Integration ManagementIn this post I'm going to show you how to develop a project charter.

2019 172

Are You Making These 8 Stakeholder Mistakes?

Project Risk Coach

What can we do to manage stakeholder risks better? appeared first on Project Risk Coach. 1=Initiation 4=Control Project Stakeholder ManagementHave you ever had someone torpedo your project? Did this individual have a motive to undermine your efforts? Or, did you make some stakeholder mistakes that gave rise to this event? Either way, it's hindering your progress. Things are not going as planned.

2019 177

How To Write A Statement Of Work The Easy Way (With A Free, Editable Template)

The Digital Project Manager

Agile How-to Guides How-to Project Initiation How-to Project Planning PM Skills & Best Practices Risk Management Scope Management Stakeholder Management TopicsThe SoW (statement of work or scope of work) is one of the best, and worst weapons in a project manager’s arsenal of tools. It’s the best because a statement of work (SoW) is so often the one piece of documentation that saves you from a world of trouble.

2018 120