Anything we do is a process. The more we acknowledge our processes and start the journey of managing and improving them, the lower the risk in overall operations.
The first step in managing processes is to understand all their components and a simple tool that could be used is SIPOC (suppliers, inputs, process, outpus customers). Continue reading
In the process of gaining approval for and initiating projects, many companies create a major risk of failure by committing to a scope, schedule and budget prematurely. This often comes about because project sponsors are disinclined or disincentivized to navigate the internal funding process more than once so they take a rough project definition and attach a heavily padded estimate to it. Continue reading
Any business has to have intrinsic mechanisms and approaches in its processes and culture to sustain an ever increasing amount of changes caused by internal or external factors. Of course, ideally would be to have a standard process to reach the decision for changes, segmented for the various organizational levels and functions and depending of how much of the business is affected. Continue reading
THE MORE RISK THINGS CHANGE, THE MORE THEY REMAIN THE SAME
Risk is defined as always in the future and is an uncertain event or condition that, if it occurs, has an effect on at least one project objective (usually in the area of scope, budget, or schedule).
As a project manager or a stakeholder on a company endeavor, risk is the one thing you must search and destroy as soon as possible and maintain that attitude throughout the project life cycle as the consequences of not understanding these risks can certainly doom all good intentions on any project. Continue reading