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.

Project Management Processes & Phases

ProjectManager.com

If so, it might be time to start implementing proven project management processes and phases at your organization in order to bring your company’s workflow under control. Phases of Project Management. Administrate: Manage the contracts secured in the project.

Process Optimization: Get More From Your Processes

ProjectManager.com

No process is perfect immediately. Process optimization methods can help guide those tweaks and improvements. But if these workers have some glaring inefficiencies in their process, then the rest of your facility can be entirely thrown off course. What is a Process Optimization?

Risk Response Strategies: Full Roundup

Online PM Courses

Risk response strategies are the basic ways you can handle project risks. They are also also one of the areas of project management practice that the PMI updated in the 6th Edition of its Project Management Body of Knowledge (PMBoK ? ). The Risk Management Process.

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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. Acceptance is a risk response strategy, but project managers are not supposed to just report on accidents, they are expected to prevent them.

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How to Build and Use a Risk Register

Project Risk Coach

Project managers constantly think about risks, both threats and opportunities. Let’s consider a simple but powerful tool to capture and manage your risks—the Risk Register. What to Include in a Risk Register. ” Risk Owner. Risk Score.

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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?

IT Risk Assessment Template

ProjectManager.com

Create a risk assessment document in order to prepare for the inevitable. An IT risk assessment template gives you the tools to see what might be waiting around the corner. Why You Need an IT Risk Assessment Template. The list of risks to an IT environment are long.

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How to Select Your Risk Responses

Girl's Guide to PM

Risk management is one of the core knowledge areas for project managers. You’ve identified and assessed your project risks—both threats and opportunities. Now, you are planning your risk responses with your risk owners. Risk Response Strategies for Threats.

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Risk Response Strategy (Definitive Guide with Examples)

PM Basics

How to select a Risk Response Strategy? Here you will find examples of risk responses for both threats and opportunities. But there’s a catch: You may have a limited mindset in regards to dealing with risks. Click here to read how I managed different kinds of threats.

7 Ways to Identify Risks

Project Risk Coach

Successful project managers have a common trait – they identify and manage risks. Let’s look at seven tools and techniques to identify risks. Often project managers start with a splash. However, the risks are never discussed again.

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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. Plan Risk Management.

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Phase-Gate Process in Project Management: A Quick Guide

ProjectManager.com

When you have a long-term project that needs to be evaluated regularly, and you’re dealing with numerous stakeholders, the phase-gate process could be an ideal fit for your organization. What is the Phase-Gate Process? Stages of the Phase-Gate Process.

Project Risks and Issues – What’s the Difference?

Project Risk Coach

Well, let's talk about project risks and issues, the differences, and why it's so important to manage risks. What is Risk? Let's examine a risk statement and underscore some key attributes of risks. So, how does an issue differ from a risk?

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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. Plan Risk Management.

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5 Powerful Ways to Improve Your Project Approval Process

Project Risk Coach

The Board chooses projects and programs that align and support the organization's mission, values, goals, and strategies. Today, let's look at five ways to improve your project approval process. Project Approval Process. Project Approval Process.

Risk Response Lessons from the Beach

Project Risk Coach

Learn threat response strategies Project managers may make risk decisions without much thought. Well, after managing projects for years, you know the drill. You simply know how to respond to the most common risks. Threat Response Strategies. Accept risks.

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Strategic Risk Management and Projects

Strategy Execution | PMO Perspectives

Experienced managers know the value of the ‘elevator view’, that is, knowing when to press the button for the top floor to look down at the bigger picture, and when to descend to the ground floor to get down ‘amongst the weeds’. Strategic Risk Management.

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Getting Results – The Bottom Line of Risk Management

Project Risk Coach

Some portfolio, program, and project managers make a big fuss over risk management. Each year, our senior management team would meet with a credit rating agency to share our goals, strategies, and progress. They have a risk management plan.

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7 Risk Management Process Steps | Roles and Responsibilities

Techno-PM

Risk Management Murphy’s Law is no strange to project management: whatever can go wrong, will go wrong. Fortunately for projects, we have this little magic thing called risk management which can help us to become more comfortable in dealing with the unexpected.

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Strategy Implementation Needs Great Portfolio Management

Strategy Execution | PMO Perspectives

In recent years, portfolio management has evolved from an administrative process, in which projects are selected and prioritised, to one of the key ways in which organisations can focus on strategy implementation. Effective Portfolio Management.

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.

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5 Tips for Better Decision Making (With Process)

Girl's Guide to PM

Get it On the next screen you'll also have the option to subscribe to the GirlsGuideToPM.com newsletter with weekly(ish) project management tips. Something you can do to make decision making easier is to have a process for it. A process helps you step through the different options to give yourself confidence that you’ve covered all the angles and are ready to make the decision. The Decision Making Process. Project Management Skills

10 Steps to Successful Process Governance

MavenLink

Ensuring that all team members meet these standards can be difficult, but enforcing process consistency can make a huge difference. Governance is made possible by implementing standardized practices, processes, and rules across the entire business. Start Improving Your Processes.

The Project Manager’s Guide to Simple Risk Analysis

Online PM Courses

Risk analysis is both easy and hard at the same time. No project manager can get by without knowing how to analyze risk on your project. Risk is important, because it is baked into the nature of projects. Risk analysis is one part of the wider Risk Management process.

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How to connect business strategy with project management

Moira Alexander

To align business goals with project management (PM), leaders from the enterprise project management office (EMPO) or project management office (PMO) need to be involved in strategic planning sessions alongside senior-level management. Suresh Srinivasan, CTO at NYU Langone Medical Center , tells CIO, within the NYU IT department there are two key components that link the business strategy and project management.

Secret Strategies to Manage Multiple Projects

Online PM Courses

As your experience as a Project Manager grows, you will be increasingly called upon to manage multiple projects. And this does not just apply to full time Project managers… Over the years, I have been asked about this by a lot of managers and professionals.

Beginner’s Guide to Project Management Process

iZenBridge

For Beginners, it is important to understand essential elements of Project Management. Who is the Project Manager? A project Manager should own the following skills to succeed: Technical Skills (Knowledge of Subject matter, need not be an expert). What is Project Management?

Staying Ahead of Business Risks

Brad Egeland

While the company has managed to remain afloat despite the reputational and financial loss brought about by the breach, it would be tough for small business to rise from such a monumental blow. Sadly, such risks are the norm in the modern-day business world.

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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Risk, Their Sources, and Handling Strategies

Herding Cats

Risk identification during early design phases of complex systems is commonly implemented but often fails to identify events and circumstances that challenge program performance. Inefficiencies in cost and schedule estimates are usually held accountable for cost and schedule overruns, but the true root cause is often the realization of programmatic risks. episteme), is uncertainty from the lack of knowledge of a quantity or process in the system or an environment.

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.

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Signs that Your Project Management Process Needs an Update

EasyProjects

Whatever the case, here are five signals from the universe that indicate your project management process is due for a refresh. Process vs Methodology. Let’s first clarify what is meant by the word ‘process’ and how it is not to be confused with the term ‘methodology’.

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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The Fundamental Goals of Risk Management

Brad Egeland

This boiled down to one single problem, their lack of a well-defined risk management program. If they did account for all the risks that their business faced they would have discovered that the growth of the digital camera industry posed a threat to their existence. This is why every business needs a risk management strategy in place, but not just any strategy. Once you identify the risks that you face, the next step is to analyze them.

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Why the Stage Gate Process will Make You a Better Project Manager

Online PM Courses

The Stage Gate Process gets too little love from Project Managers. Yet it has the potential to transform your project management, deliver more successful projects, and make you a better project manager. What is a Stage Gate Process? Benefits Management Plan.

4 Signs Your Project Intake Process Is Outdated

Wrike

Does this sound like your current work project intake process? Managing incoming work requests aren’t black and white. Here are 4 signs your project intake process is outdated and some simple steps to build a well-defined project intake process that’ll take your team into the future.

How To Do An Effective Project Selection Process?

Project-Management.pm

A stable and sturdy project management is one of the crucial factors to make a project process work. In the corporate world, an organization needs more than just top-notch tools and up to date process to bring the project to its full potential—it also needs a strong manpower, a human resource that has a particular set of skills and capabilities that will greatly contribute the entire organization. The Need for Risk Assessment.

Beyond the Risk Register

Herding Cats

Risk Management starts with a collection of risks. Their probability of occurrence, the probability the risk will unfavorably impact the project. On actual projects, this approach is naive at best and produces more risk at worse. NoEstimates Risk

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. Risk in Project Management.