Recognising that risk is inherent in every IT project is the first step towards managing it effectively.
“Would you like some risk with that?” Is something I almost never hear. In the IT business, we tend to stress the positive and minimise the negative. Continue reading
In the previous post (Managing Project Risk the PMI Way) we looked at some approaches to identifying uncertainties during the Initiation process group. During Initiation, the project is dealt with more as a whole than at the level of the individual activities required to implement it. In the Plan process group, which follows Initiation, the project is decomposed into a Work Breakdown Structure (WBS)—the individual sets of tasks that will produce components of the product that is the goal of the project. Continue reading
In today’s business arena there are many risks involved in creating high quality products on time and within budget. With ever-increasing product complexity, increasing demands for better products with more functionality and decreasing time to market windows, doing business is risky.
Many companies outsource (subcontract) a majority of their work to stay competitive in today’s global environment. As a result, a serious risk arises associated with obtaining accurate and audible proposals from subcontractors for inclusion into the proposal to their customer. Continue reading
Risk Management is a process by which uncertain events (risks) that may affect a project are identified, analysed, planned for, monitored (controlled) and, in the event that they are realised, dealt with.
However despite the conventional wisdom that Risk Management will prevent project failure from a cost, time, quality perspective or whatever other criteria has been established for successful delivery, projects continue to fail.