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Tag Archives: risk

A Deep Dive into Risk Matrix Reporting

Working with projects, programs, and portfolios, generates a lot of data. For example, in project management you have data such as planned start, planned cost, planned story points, total number of risks, etc. That said, data on its own doesn’t give you or a stakeholder any real value. The real value comes when you analyze…

Lift Positive Risk-Taking

Most people hear “project risk” and they think of an adverse event or threat that may occur. Regardless, the term carries a negative connotation, but this common belief means you may be missing out on positive risks or opportunities that potentially have a beneficial effect on your project’s deliverables and goals. When you are presented…

Do NOT Resolve Project Risks for Good Career Growth

Having been a project manager for all of my working life and now a teacher of project management skills for more than a decade, I always tell my students to follow sound project management principles and to manage risks proactively. Proactive project risk management is integral part of project management. In fact, I think good…

Fundamentals of Project Risk Management Framework

I’ve compared projects with living entities (like human beings), and the life cycle of a project with life cycle of a person. Similarly, the PMBOK guide, when expanded, is called project management body of knowledge or a body of knowledge for project management. Like every human being has a body which he or she needs…

The Unified Theory of Everything (or at least Schedule, Cost, Risk, and Earned Value)

  Project Management Institute (PMI)® Professional Development Units (PDUs): This Webinar is eligible for 1 PMI® PDU in the Strategic category of the Talent Triangle.   Event Description: All organizations that run large Programs for a living must assemble deep expertise in disciplines including scheduling, cost analysis, risk analysis, and earned value management. Each requires…

Understanding Qualitative Risk Analysis

1999. October 29. A super cyclone measuring 160 mph hit Gopalpur in Odisha, a coastal state of India, with horrifying fury. It resulted over 10,000 people losing their lives and over $US4 billion in damages. The devastation caused was barely reported. In fact, little is known about the event, but it changed the way India…

How to Get More Resources

Dear Elizabeth: I’m currently running a large project that’s a mess. We’ve lost team members, the customer has asked for more features, and now we’re scheduled to go well over our deadline. I’ve had endless conversations with my manager about the need to add more people to the project—I’ve even shown her my resource workload…

3 Steps for Better Resource Management

Several project management offices (PMOs) have asked for our help when they needed to manage resources effectively on both the project level and the portfolio level. To better manage resources, organizations need to look at their resource requirements in a defined order: 1) strategically, 2) tactically and 3) operationally. By homing in on these elements,…

PMP Prep: Decision Tree Analysis in Risk Management

Decisions and uncertainties abound in life. Take something as simple as deciding where to go for a short vacation. Do you go to a nearby mountain because your friends like it or to a faraway beach because you like it? The option of staying near the beach may be cheaper but would require a longer…

3 Ways to Surf the Flow of Your Project Management Cycle

There’s a definite cycle to project management. You move from the input of technical data to the communication activities of human interactions. This cycle is constantly shifting as you move forward, changing at any moment the probability of success for the project management. If data isn’t managed correctly, errors in timelines and schedules occur. When…

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