The Confusion Over Risk

Project Risk Coach

Why are many project managers confused over risks? Why do some project managers include positive risks in risk management and others do not? Let's clarify what we mean by the term risk. Most people think of risk as pure risk, as a possibility of loss.

Risk 344

PRINCE2® Agile Foundation and Practitioner


What is PRINCE2 Agile? PRINCE2 Agile is a project management process that focuses on delivering projects with high levels of customer satisfaction. PRINCE2 Agile has been designed across all industries; it is not limited to construction or IT-type industries like other processes are.


Sign Up for our Newsletter

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

What is PRINCE2 Agile All About?

Arras People

I have been working with PRINCE2 before it became PRINCE2 and for the last 10 years I have been a PRINCE2 trainer and consultant so I am already sold on PRINCE2. The new PRINCE2 Agile guide has been created to provide guidance for blending the PRINCE2 project management approach with agile delivery methods. PRINCE2 Agile is not a replacement for PRINCE2. All elements of PRINCE2 are valid within PRINCE2 Agile.

PRINCE2: The Project Management Method Explained

Rebel’s Guide to PM

What is PRINCE2? PRINCE2 is a project management method. PRINCE2 stands for Projects IN a Controlled Environment (Version 2). Who is PRINCE2 for? PRINCE2 works in a huge number of industries and domains. The History of PRINCE2. PRINCE2 Core Principles.

How To Manage Project Tolerances (with PRINCE2 Guide)

Rebel’s Guide to PM

The 6 Tolerances in PRINCE2. The two most frequently used tolerances are budget and time, although PRINCE2 offers you a choice of six tolerances: time, cost, scope, risk, quality and benefits. Risk Tolerance. How To PRINCE2

PRINCE2: An Introduction to the Project Management Methodology

Project managers who aren’t based in the United Kingdom might not be intimate with the PRINCE2 method of managing a project, which is primarily used by the British government. Although foreign to some, there’s still much to be gained from the PRINCE2 method, even if it isn’t adopted in its entirety. What Is PRINCE2? PRINCE2 is an acronym for Projects IN Controlled Environments. History of PRINCE2. The PRINCE2 Methodology. PRINCE2 Roles.

PRINCE2® Foundation and Practitioner: Everything you need to know to get this Certification!


What is PRINCE2® Foundation and Practitioner? PRINCE2 Foundation and Practitioner. The aim of the first qualification is to provide a background on the concepts, process, terminology, and techniques needed to be able to successfully manage projects using Prince2.

6 Things PRINCE2 Certified Project Managers Should Do Every Day


Projects are often very complex endeavours, but PRINCE2 is a project management method proven to deliver them successfully. However, there are certain common activities that a PRINCE2 Certified Project Manager will carry out almost every day. Below we’ve highlighted a few key daily activities, these have been drawn from the PRINCE2 2017 A3 Process Map , which is available for free download. Manage Risks – Unmanaged risks can derail the best laid plans.

9 Steps to Managing Risk for Your Projects


Risk and uncertainty are inherent parts of all project work, making project risk management an important topic for teams to address. But there are ways you can mitigate and manage risk. Here are nine project risk management steps that will help you keep everything on track: 1.

2022 125

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.

Risk 35

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

Risk 33

Managing Project Christmas

Arras People

Here’s SPOCE with the PRINCE2 approach to managing the project that is Christmas. The Christmas dinner – Quality and Risk Approach. This is usually a big NO NO for PRINCE2 due to their conflicting objectives. Each household will have its own internal processes in place for this for which PRINCE2 can support. This way our issues and risks are kept better under control and the business case is continually reviewed. Risk number 1. –

2017 152

What Do Project Managers Do?


That’s because project managers are responsible for the overall initiation, planning, design, monitoring and execution of any specific activity. One key attribute is risk management. Risks need to be both formally and informally managed on any project and at every stage until completion. They then need to make decisions, both big and small, to mitigate these risk factors. Monitoring and planning resources. Risk analysis. Monitoring and reporting.

Project Manager Job Description (with free copy+paste examples!)

Project managers plan, budget, monitor and report on the project with project management tools , sometimes pitching the idea of the project or being assigned to it once it’s already been approved. There are two major certifying bodies, PRINCE2 and the Project Management Institute (PMI).

2021 377

Product Manager vs Project Manager – What’s the Difference?

Project managers are in charge of managing teams during the initiating, planning, scheduling, monitoring and closing phases of a project. Create project management documents such as a project budget, project schedule , resource management plan and a risk management plan.

2021 355

Project Management Framework Types, Key Elements & Best Practices

Some common ones include scrum , the waterfall methodology , PRINCE2 and more. Popular ones include PRINCE2, CCPM (critical chain project management), scrum (primarily used in development environments) and the waterfall methodology. And in every variable, there’s risk.

2020 355

What’s To Like About AgilePM?

Arras People

Throughout the project eight principles need to be upheld: There are also five factors that need to be monitored to ensure that the spirit of agile is maintained throughout the project: Embracing the DSDM approach. It can be integrated successfully with PRINCE2 because the roles are complementary and the lifecycles are similar. What it does have that PRINCE2 doesn’t are roles defined for delivering the requirements. PRINCE2 Agile® is a registered trademarks of AXELOS Limited.

2016 193

Top 5 Project Management Certifications To Become A Great Project Manager!

The Lazy Project Manager

PRINCE2. The PMP training certification examination can be passed only if you are perfect with all the techniques needed to plan and monitor a project from its start to finish. This includes planning, initiating, controlling, monitoring and closing the project. PRINCE2. The PRINCE2 certification course is another important project management credential project managers can take. About the PRINCE2 Certification exam structure. PRINCE2 Foundation.

2018 94

Project Boards and Project Steering Groups: An Introduction

Rebel’s Guide to PM

They let you know whether you can go overspent or what risk mitigation actions are the right ones for this point in the project. That’s the minimum (and the approach advocated by PRINCE2). Risks and issues.

2022 269

How to Become a Project Manager and Succeed in the Business World

ProProfs Project Management

PRINCE2 (Projects In Controlled Environments). Risk Mitigation. PRINCE2 (Projects In Controlled Environments). PRINCE2 is quite different from PMP certification. Unlike the PMP certification, beginners are applicable for PRINCE2. Risk Mitigation .

2020 83

Review Agile Portfolio Management

Henny Portman

Based on PMI’s Standard for Portfolio Management several financial models like PV, NPV, FV, ROI, IRR, PP, DCF, BCF, PI are explained as well as the continuous stages as initiation, planning, execution, optimization and monitoring and control.

2022 82

Project Management CV – Writing in the First Person

Arras People

I have a good track record in effectively engaging various types of stakeholders and managing difficult risks during complex projects. He is a certified Prince2 Practitioner & Agile Scrum master with double MBA degrees from Cranfield and Oxford, Bob has a high degree of commercial acumen and technical flair which is demonstrated through an outstanding career record.

2016 151

Top Ten Things Every New Project Manager Should Do

Arras People

If you’re one of the many people who only has their PRINCE2 Foundation and are looking for a cost-effective way to boost your project management knowledge, I really advise you take a look at the online learning options Dr Mike has, they’re first-rate! Number 8: Risk Management. So make risk management your next priority. The biggest mistake that new project managers make (and I have seen it) is to produce a fabulous risk management plan… And then move on.

2016 232

How to manage projects from kickoff to launch


Not only are you expected to know about Agile, scrum, and waterfall, but PMBOK , PRINCE2, Gantt Charts, and Cumulative Flow Diagrams! Phase 4: Monitoring & Control. Step 10: Create a risk management plan. Recognize potential project risks and put plans in place to mitigate them.

2021 150

How to Come Up With a Flexible Project Management ?

The following reasons are very common: the client made an unexpected change , the time was not managed properly or the risks were not addressed properly. More and more project management intensive training are resorting to time and risk management since this will trigger another form of flexible project management where it can help projects adapt easily to the constraints involved in a project.

2017 82

Becoming a Project Manager – A Complete Guide for 2018

Paymo App

Project management methodologies – Agile, Waterfall, PRINCE2, PRiSM, Six Sigma, Critical Path, and many more. Some of your duties will include: taking part in the creation process, executing the project, preparing communication methods, finding solutions to recurring issues, monitoring the project’s progress from start to finish, and many more. solid understanding of business cases and risk management processes. ability to monitor and control budgets. Monitoring.

2018 87

Become a PM Pro With These Project Management Courses


Managing project risks and changes. You’ll learn about the major stages in managing a project - initiating, planning, executing, monitoring, closing - over 3.5 Projects in Controlled Environments (PRINCE2). With its focus on scalability and repeatability, PRINCE2 is one of the most popular project management methodologies around. This certification from Axelos officially recognizes your capabilities as a PRINCE2 expert.

2019 69

The Complete Glossary of 614 Project Management Terms


Accept: A response to a project risk where the project manager accepts the risk and takes no action to evade it, i.e. 'accepting' the risk. This is usually in case of risks that are unlikely to occur or minor enough so as to not affect the project's outcome.

2021 78

Project Status Reporting – 6 Key Considerations

Project Health Check

The entire purpose of the Start-up Phase of a Project is to produce a comprehensive Plan for the Project; consisting of an integrated Performance Measurement Baseline (Time, Cost, Scope) and an associated Project Management Plan to monitor and control it. Management by Exception : This PRINCE2 Principle is extremely valuable as the starting point; the Project shouldn’t need to tell management about every single thing that it has done.

2017 192

Brief comparison between MSP 5th edition and MSP 2011 edition

Henny Portman

Looks like they embraced my idea to add a quick reference card as I did when writing the official Directing Successful Projects with PRINCE2 guide. The purpose of this theme is how programmes make decisions at various points across the programme lifecycle, whether those decisions be related to resolving issues, responding to risks, or any other choice requiring a considered and governed approach and it’s the prerequisites for effective decision-making within programmes.

2011 67

Agile Project Management: What is It and Why Does It Matter?


From the building of ancient pyramids and industrialization of the 19th century to modern-day developments such as the Gantt chart and Critical Path, project management has always existed in some form.

Project Cost Management – The Essential Things to Know and Do

Online PM Courses

Monitoring and controlling project expenditure. Monitoring and controlling project expenditure to adhere to your budget. Control Costs – which actually covers monitoring, controlling, reporting, and responding to cost variances and the issues that link to them. Monitoring and Controlling. How you will monitor your expenditure. Significant risks (like weather, events, political). Monitoring and Controlling Expenditure. Monitoring.

How to Become a Project Manager in 2020


Monitor the project’s performance. PRINCE2. Risk management. How to become a project manager? This guide answers all your questions about becoming a project manager and landing a great job.

2020 107

Project Management Solutions For Architects (The Ultimate Guide)


Identifying any risks to the project timeline. Identifying potential problems from the outset will give architectural firms the insight they need to mitigate risk. Mitigates risk. Risk analysis. Cost risks. Physical risks. Technical risks.

2022 52

How to Start a Career in Project Management: Answers to FAQ

Epicflow Blog

Managing uncertainties and constraints, Administering risks, Making project decisions, Analyzing team progress, Reporting [5]. At the initiation stage, a project manager identifies the goals, milestones, deadlines, and budget of a project as well as predicts probable risks.

2020 83

Evidence-based Management: Gathering the metrics

Evidence-based Management for Software Organisations is a framework from to help organisations focus their efforts on most valuable improvements and monitor their effect on the organisation.

2021 75

What is Process Management in Project Management


This will result in you organizing your project and processes very differently than if you were using a Prince2 methodology. A key aspect that you will need to monitor as the project manager is the coordination between different groups.

The Best 53 Project Management Blogs You Should Be Reading

Paymo App

What to expect: John Goodpasture frequently writes articles on risk management, Agile processes, and leadership. The Risk Matrix – Yet One More Time! Risk Management Is How Adults Manage Projects. The “If/ Then” Risk Statement. What to expect: Using more than 15 years of experience, Ron writes mostly about project management training and strategies, benefits management, risk management, and stakeholder management. PRINCE2 Blog.

2018 87

Project Management Tools and Services to Consider for 2020

Brad Egeland

There are different ways you and your team can benefit from it in Forecast: AI suggests optimal future estimates of budget and task duration AI helps you clearly see projects that are at risk of delay or veering off track by warnings all over the system AI issues risk alerts on project progress AI automates time registrations for the team Therefore, you’re constantly covered from scope creep and nothing comes as a surprise to you when it’s too late.

2020 143

A very practical guide to start managing your projects

Paymo App

Does “hammock activity”, “prince2” or “critical path” ring any bells? If you don’t know this from the beginning there’s a big risk that a project can’t be finalized due to the lack of funds. the client is somebody you’ve already done business with; you’ve done work for this client before; the project seems pretty straightforward and/or you underestimate the potential risks and the problems that these might cause.

2016 67