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The primary goal of risk management is to navigate the uncertainty found in any initiative. As the development of the risk management process begins, here are four more general principles to keep in mind to guide decision-making:
- Timebox risk assessments. Because all uncertainty is not identifiable and the process needs to be scalable to the size of the initiative, allocate some fixed time.
The primary goal of risk management is to navigate the uncertainty found in any initiative. As the development of the risk management process begins, here are four general principles to keep in mind to guide decision-making:
- The organization and initiative stakeholders have attitudes toward risk. These attitudes will affect thinking throughout the process and need to be determined in advance. ...
Another tip from my new book, Risk Assessment Framework: Successfully Navigating Uncertainty, with publication planned for November. Watch for more details in October.
Following a robust and appropriately scaled risk management process provides important project benefits, including:
- Positive risks (opportunities) can have positive outcomes: for example, shortened schedules or effective...
If project management feels like it's herding cats, you are probably doing something wrong. Here are 5 steps to avoid the cats:
- Be sure you develop a definition of success and a clear vision with the project sponsor.
- Be sure there are clearly defined roles and responsibilities.
- Do enough planning, so there is a clear plan for the team to follow.
- Follow the appropriate project and...
How much risk management and risk management planning is enough? There is no immediate answer to this question; however, a good starting point is to consider the following objectives and constraints:
- Costs and time of implementing risk management are proportionate to the costs and time of the projects -less than 10% is a...
1) Be sure there is a project...
"Work smarter, not harder" sometimes seems unachievable for the project manager. Here are 5 tips toward achieving it:
- You do not need to do all the project work too. Delegate effectively, then trust the team member to get it done.
- Define clear roles and responsibilities. This will avoid questions and issues later in the project and help contain team-generated scope creep.
- Focus on the most...
I usually have to visit a copy shop at least 2-3 times a year to fulfill various needs for PMI meetings and events. This past weekend I had a critical business need to have a small number of copies made and spiral bound for a customer meeting. With FedEx Kinko's being the closest, I dashed off last night to have the copies done. Since I don't frequently visit, this was like a "first visit" all...
Developing a process for risk response planning is critical. In addition to reducing thinking bias, a process reduces the risk of poor responses and ensures any responses creating new risks receive treatment as all others.
- Start with the highest priority risk - review the identification and analysis of the risk.
- Identify at least one risk trigger. In the process, you may uncover additional...
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