Event 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
Category Archives: Tips&Tools@Risk™
#22 – CAN PROJECTS INCORPORATE TOO LITTLE RISK? – HOWARD WIENER
Generally, 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
Among 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
#21 – RISK BASED AUDITING – KEITH RIDGEWAY
Today’s business world is constantly changing—it’s unpredictable, volatile, and becoming more and more complex every day. By its very nature, it is fraught with risk.
Businesses have always looked at risk as a necessary evil that should be controlled, minimised or mitigated whenever possible. Continue reading
#21 – THE PROCESS OF RISK MANAGEMENT – LINDA WESTFALL
Risk management is an ongoing process that should be implemented as part of the initial planning activities for our projects, product, and processes. Risk management must also be an ongoing part of managing those projects, product, and processes. The purpose of risk management is to identify and analyze potential problems (risks) before they turn into actual problems so that we can: Continue reading