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Top 5 Reasons to Consider Risk Management risk management technical Dec 18, 2022

Project managers are responsible for ensuring that a project is completed on time, within budget, and within the desired scope. Risk management is one way to help ensure this happens. Whether you're just starting as a project manager or have years of experience, there are many benefits of adopting risk management into your project management processes. Here are five of the top reasons why risk...

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7 Tips to Improve Your Leadership people resource management risk management Jul 03, 2022

With outstanding leadership comes great responsibility. For example, suppose you are a project leader, whether a project manager or team lead. It's up to you to communicate clearly with your team and manage their expectations. Luckily, there are some things that you can do as a leader to make this process easier.

Your ability to lead is a skill that you can improve with practice and patience....

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Planning Project Budget Reserves business cost management risk management technical Feb 27, 2022

To start reserve planning requires a completed risk analysis  (for details on how to complete a risk analysis, see our publication, Risk Assessment Framework: Successfully Navigating Uncertainty) . First, estimate the financial impact for each risk, then compute the estimated monetary value (EMV). The EMV is the product of the likelihood and the impact in dollars or your local...

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What is the Project Management Risk Process? risk management technical Oct 31, 2021

What is the project management risk process?  The project management Risk Assessment Framework is a flexible, easily scaled, and tailored framework aligned with the Project Management Institute's PMBOK® Guide. 

The benefit of the framework is that it is easy enough for an aspiring, new, and accidental project manager to understand yet comprehensive enough that even seasoned...

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What is Project Risk Management? risk management technical May 09, 2021

Risk management is the art and science we use to assess and respond to the risks which exist throughout the life of our projects.  In fact, risk exists in virtually any initiative - programs, portfolios, business, operations, manufacturing, and more.  We perform risk management so our initiatives are successfully managed within the triple constraints of cost, quality, and time, plus...

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5 Leadership Skills Needed for Risk and Crisis Management people risk management May 02, 2021

Good leadership does not come from a single skill, but rather a collection of skills such as team building, influence, patience,  empathy, and creativity. This article examines 5 leadership skills essential for risk and crisis management. 

Risk management and crisis management are closely related.  Good risk management may reduce or minimize crises, but it is inevitable that at...

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5 Tips to Reduce Project Risk risk management Feb 21, 2021

No matter what project management methods or project life cycles you are using, risk management is an important component.  While there may be some nuances for different circumstances, some elements are universal.

It's important to note that risk is unavoidable - no environment is completely risk free. But do scale your efforts accordingly.  A very complex project, projects with large...

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4 Critical Terms for Determining a Risk Profile risk management May 24, 2020

There are four key terms to consider to develop an organizational risk profile before writing your risk management plan.  Only three are in the PMBOK® Guide – Sixth Edition, and you need to read the entire Risk Management chapter to find them. The fourth (do you know which one this is?) is not likely to appear in the Seventh Edition either.  But all four are essential...

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4 Ways to Respect Your Client and Their Deliverables quality management risk management stakeholder management time management May 17, 2020

Always foster good relationships with the client and the team, and remember that the client has the final acceptance of deliverables. If you are practicing Agile, the client will also be a part of the team. Here are four ways you can use to demonstrate respect for your client.

  1. Respect the client's time. Conduct efficient meetings, starting with agendas, and ending with action items and...
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6 Tips to Improve Project Decision Making project integration management risk management Apr 26, 2020

Decision making is a skill we need to apply to weigh the pros and cons of alternatives and choose the best path forward.  Bad decisions contribute to project risks and can put a team into firefighting mode, correcting wrong decisions after bad choices.  Here are six tips to improve your project and other decision-making efforts.

  1. Treat decision making as a process. There are many...
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