Category Archives: Tips&Tools@Risk™

#23 – UNDERSTANDING THE TOP DRIVERS FOR REDUCING QUALITY RISK – LNS RESERACH

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When it comes to building compliance into production processes, we’ve spoken to numerous companies in the past several years that have done an admirable job. However, there are still many – particularly in the manufacturing sector today – that struggle to meet product and process specifications set out of by regulatory bodies, customers, and even internal management. These companies are more vulnerable to quality risk than others. Continue reading →

#22 – WHEN TO INCORPORATE A RISK INTO THE BASELINE SCHEDULE OR RISK REGISTER – JOHN AYERS

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John Ayers pixRisk management involves the identification of risks, prioritization of the risks based on probability of occurrence and impact of occurrence, and mitigation plans to control the risks.  Once identified and prioritized the question then becomes which risks should be incorporated into the schedule and which ones should be included in the risk register? 

The general rule of thumb I have used requires risks with a 50% or greater probability of occurrence to be incorporated into the schedule. The other risks are entered into the risk register. Continue reading →

#22 – CONTEXT MATTERS WHEN DISCUSSING RISK (EVENT RISKS) – MARK JONES

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Mark Jones pixEvent Risk is your typical ‘stuff happens’ risk that pops up over the course of a project. As part of ongoing planning you use the risk register to record them along with any agreed Decision Risks. The vast majority of these can be described in terms of future events with an impact on the project and occurrence uncertainty – once they are certain, i.e. either 100% or 0% probable, they graduate to something else. Continue reading →

#22 – CAN PROJECTS INCORPORATE TOO LITTLE RISK? – HOWARD WIENER

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Howard Wiener PixGenerally, every effort is made to reduce risks in software development projects to ensure achieving functionality, time and cost goals.  One common risk-mitigation practice is to employ established, stable technologies when new, less well-understood or in-transition business processes are involved.  

However, projects supporting longer-term, strategic business initiatives may produce suboptimal results if organizations do not push the envelope in order to maintain currency with evolving technology standards and preserve options to keep the application consistent with market competition and changing business models over its usable life. 

In this post, I begin to explore how we can identify cases in which accepting risks associated with employing newer technologies, architectures or methodologies can add value to a project. Continue reading →

#22 – TAKING A SWOT AT RISKS – MARK MOORE

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Mark MooreAmong the classic tools for business and situation analysis, the SWOT work up is always a favorite.  But have we ever considered leveraging the analysis process and outcome to beef up our risk analysis and help us identify more project or operational risks (and their counterweight – opportunities)?  With some simple, practical applications, I believe we can do just that and bring additional value to our work. Continue reading →