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It's easy to miss project risks. And, until a project manager has identified the threats and opportunities, the risks cannot be managed properly. Projects rise and fall with the project manager's ability to properly identify and manage their most significant risks. MORE
Risk response strategies are the basic ways you can handle project risks. In this article we’ll examine the risk response strategies you have available to you, what they mean, and when you should use them. Introducing Project Risk Management. Remove the Risk. MORE
1 When you say "risk management" to most PMs, what jumps to mind is the quite orthodox conception of risk as the duality of an uncertain future event and the probability of that event happening. This conception is commonly called the "frequentist" view/ Risk ManagementAround these two ideas -- impact and frequency -- we've discussed in this blog and elsewhere the conventional management approaches. MORE
If you say the word “risk” to ten people, each person may think of something different— insurance, threats, investments, bets, or potential loss. As we manage project teams, it's critical that you and your team members have a common understanding of what project risk means. MORE
Successful project managers have a common trait – they identify and manage risks. Let’s look at seven tools and techniques to identify risks. They get the team together, identify lots of risks, and enter them into an Excel spreadsheet. When to Identify Risks. MORE
A narrative* Imagine two doors to the same room: One labeled risk manager; the other labeled decision maker. Though the risk manager's door, entry is for the inductive thinker: facts, experience, history looking for a generality or integrating narrative Through the decision maker's door, entry is for the deductive thinker: visionary with a need to articulate specifics for the vision Risk Management MORE
In this article, we will look at how to conduct a risk audit to evaluate the effectiveness of your risk management. Additionally, we'll also talk about how to be more forward thinking through risk reviews. How to Conduct a Risk Audit. Who Performs the Risk Audits? MORE
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? MORE
Life is filled with risks. Some risks occur slowly. Let’s look at how to evaluate risk velocity and why it matters. What is Risk Velocity? Risk velocity is the time to impact. Think of velocity as an estimate of the time frame within which a risk may occur. MORE
8 ways to identify scope risks Some project managers struggle to identify scope risks. Second, individuals may not know HOW to identify scope risks. Either way, the failure to identify (and manage) scope risks can be costly. What are Scope Risks? MORE
David Hulett has a presentation on his website, projectrisk.com, entitled "Schedule Risk Analysis using the Risk Driver Method and Monte Carlo Simulation". In this presentation, he develops an interesting operating idea: first, shift the Monte Carlo method to the higher level of events on the risk register, and then use those results as drivers on the schedule. His idea he explains this way: Risk Management MORE
Respond to your most significant risks now! We treat risks personally and professionally every day. Our job is to treat risks to enhance opportunities and reduce threats. We can optimize our risk responses over time. The post 8 Ways to Treat Risks appeared first on. MORE
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. What is Enterprise Risk Management? MORE
Some project managers make timely responses to risks, resulting in positive progress toward their project goals. Let's look at some common risk response mistakes and how to overcome them. So, what do I mean by risk response mistake? Individual small risks seem powerless. MORE
” 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. time-to-impact) of your risks? MORE
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. New risks arise over time. MORE
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. MORE
Kicking off project management in the New Year, here’s Megan Cacioppo from Deltek with a post-Christmas present, Project Risk Management for Dummies, available for you to download. Are you on the forefront of effective risk management? MORE
A response to risk can create other risks. These secondary risks may be more significant than the primary risks if we are not careful. What is a secondary risk? A secondary risk is a risk that is created by a response to another risk. MORE
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. MORE
How’s your project risk management knowledge? Some of you are a certified Project Management Professional (PMP) or as a Risk Management Professional (PMI-RMP) so this test may be a good review for you. Matching Game: Project Risk Management. Risk. Secondary risk. MORE
Learn threat response strategies Project managers may make risk decisions without much thought. You simply know how to respond to the most common risks. With each of these activities, I do things to manage risks and frankly, I rarely think about it (because I’ve done it for so long). MORE
Some project managers start their projects with a strong focus on risk management. In this article, I am providing questions that can help you in monitoring project risks and as a result, achieve better results. When problems occur, they turn to their risk response plan. MORE
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. MORE
8 ways to identify scope risks Some project managers struggle to identify scope risks. Second, individuals may not know HOW to identify scope risks. Either way, the failure to identify (and manage) scope risks can be costly. What are Scope Risks? MORE
Repetition and review are good--Malcom Gladwell says it takes 10,000 hours to be expert at anything--so here's a few words that will take a few minutes on three important quantitative concepts every risk manager should know: Concept 1: Centrality Most phenomenon of interest to projects, particularly naturally occurring phenomenon, tend to cluster around a central value, given enough samples. risk Risk Management MORE
Want to manage risks? Everybody starts with the traditional four steps: Identify the risks. The list is different for each Prioritize among risks. some don't need to be managed Evaluate probability and impact Set up a risk response or mitigation Actually, there are problems with Step 3 It's rare, bordering Risk ManagementSuper! It's always a good idea. are you thinking strategically or tactically? MORE
He thinks his project managers have identified most of their risks, but he’s not sure where to focus his attention. What areas have the highest risk exposure? Let’s look at how to actually define risk categories and how they can help Tom (and you). What are Risk Categories? MORE
Have you ever endured a project meeting where you spent hours evaluating risks? Today, let’s discuss the use of qualitative risk analysis to get you back on track. Qualitative Risk Analysis. What is Risk Evaluation? Quantitative Risk Analysis. Risk Rating. MORE
A response to risk can create other risks. These secondary risks may be more significant than the primary risks if we are not careful. What is a secondary risk? A secondary risk is a risk that is created by a response to another risk. MORE
Discover how to ensure risk ownership at the right level of your organization The Project Management Institute added a new risk strategy in the Sixth Edition of the Project Management Body of Knowledge. Escalate the risk. 2=Planning 4=Control Project Risk Management MORE
Project managers should be prepared to perform different types of risk analysis. For many projects, the quicker qualitative risk analysis is all you need. But there are occasions when you will benefit from a quantitative risk analysis. MORE
I conduct online surveys to get feedback from project managers on risk management topics. Here’s one of the questions, “What risk management techniques would you like to know more about?” Risks are collected from a project team. MORE
Changes in project risks are inevitable. As a project progresses, the probability and impact of current risks change, new risks emerge, and residual risks may increase or decrease. Susan, on the other hand, facilitated an early risk identification workshop. MORE
Changes in project risks are inevitable. As a project progresses, the probability and impact of current risks change, new risks emerge, and residual risks may increase or decrease. Susan, on the other hand, facilitated an early risk identification workshop. MORE
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. MORE
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. Probability Risk Rating. MORE
Most of your project problems can be avoided or greatly reduced through risk management. The simple act of identifying and discussing risks goes a long way towards reducing problems in your project. Let’s look at how to start the risk management process. The highest risks? MORE
“Increasingly,” says Walaa Bakry, who runs Westminster Business School’s project management courses, “successful project management is becoming a synonym for successful risk management. Management of Risk was the next obvious area for us to expand into.”. programme risk. MORE
1 Frequency-impact: When you say "risk management" to most PMs, what jumps to mind is the quite orthodox conception of risk as the duality of an uncertain future event and the probability of that event happening. This conception is commonly called the " Risk Management MORE
Risk Related Topics Project Risk Coach
JANUARY 21, 2019
If you say the word “risk” to ten people, each person may think of something different— insurance, threats, investments, bets, or potential loss. As we manage project teams, it's critical that you and your team members have a common understanding of what project risk means.
Project Risk Coach
JANUARY 28, 2019
Have you ever endured a project meeting where you spent hours evaluating risks? Today, let’s discuss the use of qualitative risk analysis to get you back on track. Qualitative Risk Analysis. What is Risk Evaluation? Quantitative Risk Analysis. Risk Rating.
Project Risk Coach
JANUARY 14, 2019
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. Probability Risk Rating.
Project Risk Coach
FEBRUARY 4, 2019
Changes in project risks are inevitable. As a project progresses, the probability and impact of current risks change, new risks emerge, and residual risks may increase or decrease. Susan, on the other hand, facilitated an early risk identification workshop.
Speaker: Sriram Parthasarathy
Why every application that fails to talk about the future is at risk of getting replaced. Predictive analytics is an increasingly common buzzword with many forms. It seems everyone has their own take on what it is and which best practices and business benefits apply.
Musings on Project Management
FEBRUARY 9, 2019
A narrative* Imagine two doors to the same room: One labeled risk manager; the other labeled decision maker. Though the risk manager's door, entry is for the inductive thinker: facts, experience, history looking for a generality or integrating narrative Through the decision maker's door, entry is for the deductive thinker: visionary with a need to articulate specifics for the vision Risk Management
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Musings on Project Management
DECEMBER 18, 2018
1 When you say "risk management" to most PMs, what jumps to mind is the quite orthodox conception of risk as the duality of an uncertain future event and the probability of that event happening. This conception is commonly called the "frequentist" view/ Risk ManagementAround these two ideas -- impact and frequency -- we've discussed in this blog and elsewhere the conventional management approaches.
Project Risk Coach
AUGUST 27, 2018
In this article, we will look at how to conduct a risk audit to evaluate the effectiveness of your risk management. Additionally, we'll also talk about how to be more forward thinking through risk reviews. How to Conduct a Risk Audit. Who Performs the Risk Audits?
ProjectManager.com
JANUARY 21, 2019
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 Risk Coach
MARCH 5, 2018
Respond to your most significant risks now! We treat risks personally and professionally every day. Our job is to treat risks to enhance opportunities and reduce threats. We can optimize our risk responses over time. The post 8 Ways to Treat Risks appeared first on.
Project Risk Coach
NOVEMBER 20, 2017
Most of your project problems can be avoided or greatly reduced through risk management. The simple act of identifying and discussing risks goes a long way towards reducing problems in your project. Let’s look at how to start the risk management process. The highest risks?
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Project Risk Coach
JANUARY 15, 2018
Life is filled with risks. Some risks occur slowly. Let’s look at how to evaluate risk velocity and why it matters. What is Risk Velocity? Risk velocity is the time to impact. Think of velocity as an estimate of the time frame within which a risk may occur.
Project Risk Coach
DECEMBER 10, 2018
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?
Project Risk Coach
APRIL 30, 2018
8 ways to identify scope risks Some project managers struggle to identify scope risks. Second, individuals may not know HOW to identify scope risks. Either way, the failure to identify (and manage) scope risks can be costly. What are Scope Risks?
Project Risk Coach
DECEMBER 26, 2017
Successful project managers have a common trait – they identify and manage risks. Let’s look at seven tools and techniques to identify risks. They get the team together, identify lots of risks, and enter them into an Excel spreadsheet. When to Identify Risks.
Musings on Project Management
JANUARY 18, 2019
Repetition and review are good--Malcom Gladwell says it takes 10,000 hours to be expert at anything--so here's a few words that will take a few minutes on three important quantitative concepts every risk manager should know: Concept 1: Centrality Most phenomenon of interest to projects, particularly naturally occurring phenomenon, tend to cluster around a central value, given enough samples. risk Risk Management
Project Risk Coach
NOVEMBER 28, 2017
He thinks his project managers have identified most of their risks, but he’s not sure where to focus his attention. What areas have the highest risk exposure? Let’s look at how to actually define risk categories and how they can help Tom (and you). What are Risk Categories?
Project Risk Coach
NOVEMBER 21, 2016
8 ways to identify scope risks Some project managers struggle to identify scope risks. Second, individuals may not know HOW to identify scope risks. Either way, the failure to identify (and manage) scope risks can be costly. What are Scope Risks?
Project Risk Coach
JULY 30, 2018
Some project managers make timely responses to risks, resulting in positive progress toward their project goals. Let's look at some common risk response mistakes and how to overcome them. So, what do I mean by risk response mistake? Individual small risks seem powerless.
Project Risk Coach
JUNE 19, 2017
Changes in project risks are inevitable. As a project progresses, the probability and impact of current risks change, new risks emerge, and residual risks may increase or decrease. Susan, on the other hand, facilitated an early risk identification workshop.
Project Risk Coach
JULY 23, 2018
It's easy to miss project risks. And, until a project manager has identified the threats and opportunities, the risks cannot be managed properly. Projects rise and fall with the project manager's ability to properly identify and manage their most significant risks.
Project Risk Coach
JULY 9, 2018
I conduct online surveys to get feedback from project managers on risk management topics. Here’s one of the questions, “What risk management techniques would you like to know more about?” Risks are collected from a project team.
Project Risk Coach
JANUARY 22, 2018
” 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. time-to-impact) of your risks?
Project Risk Coach
AUGUST 20, 2018
Some project managers start their projects with a strong focus on risk management. In this article, I am providing questions that can help you in monitoring project risks and as a result, achieve better results. When problems occur, they turn to their risk response plan.
Project Risk Coach
APRIL 22, 2016
A response to risk can create other risks. These secondary risks may be more significant than the primary risks if we are not careful. What is a secondary risk? A secondary risk is a risk that is created by a response to another risk.
Project Risk Coach
AUGUST 7, 2016
How’s your project risk management knowledge? Some of you are a certified Project Management Professional (PMP) or as a Risk Management Professional (PMI-RMP) so this test may be a good review for you. Matching Game: Project Risk Management. Risk. Secondary risk.
Project Risk Coach
AUGUST 13, 2018
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. New risks arise over time.
Project Risk Coach
MARCH 12, 2018
Discover how to ensure risk ownership at the right level of your organization The Project Management Institute added a new risk strategy in the Sixth Edition of the Project Management Body of Knowledge. Escalate the risk. 2=Planning 4=Control Project Risk Management
Project Risk Coach
JULY 16, 2018
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.
Kiron Bondale
SEPTEMBER 25, 2016
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.
Musings on Project Management
SEPTEMBER 28, 2016
Want to manage risks? Everybody starts with the traditional four steps: Identify the risks. The list is different for each Prioritize among risks. some don't need to be managed Evaluate probability and impact Set up a risk response or mitigation Actually, there are problems with Step 3 It's rare, bordering Risk ManagementSuper! It's always a good idea. are you thinking strategically or tactically?
Musings on Project Management
JULY 21, 2018
David Hulett has a presentation on his website, projectrisk.com, entitled "Schedule Risk Analysis using the Risk Driver Method and Monte Carlo Simulation". In this presentation, he develops an interesting operating idea: first, shift the Monte Carlo method to the higher level of events on the risk register, and then use those results as drivers on the schedule. His idea he explains this way: Risk Management
Arras People
JUNE 9, 2016
“Increasingly,” says Walaa Bakry, who runs Westminster Business School’s project management courses, “successful project management is becoming a synonym for successful risk management. Management of Risk was the next obvious area for us to expand into.”. programme risk.
Project Risk Coach
MAY 1, 2017
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.
Arras People
JANUARY 3, 2018
Kicking off project management in the New Year, here’s Megan Cacioppo from Deltek with a post-Christmas present, Project Risk Management for Dummies, available for you to download. Are you on the forefront of effective risk management?
Project Risk Coach
JUNE 12, 2017
Learn threat response strategies Project managers may make risk decisions without much thought. You simply know how to respond to the most common risks. With each of these activities, I do things to manage risks and frankly, I rarely think about it (because I’ve done it for so long).
Project Risk Coach
SEPTEMBER 25, 2017
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. What is Enterprise Risk Management?
Online PM Courses
MAY 28, 2018
Risk response strategies are the basic ways you can handle project risks. In this article we’ll examine the risk response strategies you have available to you, what they mean, and when you should use them. Introducing Project Risk Management. Remove the Risk.
Musings on Project Management
JANUARY 18, 2018
1 Frequency-impact: When you say "risk management" to most PMs, what jumps to mind is the quite orthodox conception of risk as the duality of an uncertain future event and the probability of that event happening. This conception is commonly called the " Risk Management
Project Risk Coach
DECEMBER 12, 2017
A response to risk can create other risks. These secondary risks may be more significant than the primary risks if we are not careful. What is a secondary risk? A secondary risk is a risk that is created by a response to another risk.
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