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
We deal with appetites and thresholds every day, both personally and professionally. Project risk management is no exception and knowing your appetite and threshold may save your project a lot of grief.
When managing project risks (or any risks for that matter), I’ve found that there are always two versions of appetite and threshold. The first is what I’ll call the “perceived” level and the second is the “actual” level. This may sound like splitting hairs, but I’ve found multiple times on projects that they both do exist and always come into play at some point.
Yes, there is a #1 secret to managing project risk! Know what it is? No? Read on:
Risk is inherently a negative term in today’s project environment. How we perceive that risk and turn it into a positive especially, when stakeholders are fearful of project failure and excessive financial overruns. Continue reading