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Risk Management

How Opinion Gets Mistaken for Experience (and Why It’s Harmful)

It is frustrating to provide input on a type of project that you’re familiar with, only to have it shut down by someone with a better title. Some “thought leaders” devalue people who have direct experience and talk about the work that other people have done as if it is proof for their own opinion. The problem is that what works in one context may not work in another, and you never truly know how ...

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3 Team Techniques that Improve Cost Estimates

It’s brain-wracking to think about money. And it’s even more frustrating when the money is for lots of other people, but you have to think about it yourself. Sometimes, you just cannot be Batman who saves the world alone. It is nicer and more time-saving to work in group for a project’s estimated costs. In a post as the Project Risk Coach, Harry Hall offers a few suggestions on how to improve team estimation: Have ...

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Why Failure Bias Is Good for Your Company

Being bold and strategic in business means allowing your beliefs to be constantly challenged and having an open mind to learn new things. In a post at his blog, risk manager Chris Matts introduces the idea of failure bias—a healthy search for information that might show your beliefs are wrong or your strategies are failing. There are two points to remember in adopting failure bias in business: We actively look for information that refute our ...

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7 Ways to Level Up Your Risk Management

The line between success and failure can be thin. Even when you have success, it may be attained with certain havoc. If you strive for big goals in business, you have to accept the fact that there are always risks involved and be ready for them. Risk can be hard to spot, let alone prepare for and manage it. The worst thing is if you’re hit by something that you haven’t planned for; costs, time, ...

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Project Scope: How Rigid Is Too Rigid?

A scope should not be too general, but shouldn’t be overly specific at the same time—what a headache. It is up to each project manager to establish and define what the scope for her or his project is. However, there are certain rules that are applicable for all successful projects. According to Ben Aston in a post for the Digital Project Manager, project managers should do the following things: Be clear about the scope. Document ...

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How to Facilitate a Successful Project Launch under Time Crunch

What does it take to facilitate a successful project launch? Let’s look at two scenarios, one that results in potential failure and one destined for success. The Wonder Wheels Company assigned Tom Dooley to manage a high-profile project, a project critical to the achievement of the company’s annual goals. Jane Johnson, a senior leader and the project sponsor, called Tom to her office, handed him a few memos, and described the project deliverables. Coldly staring ...

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10 Reasons Why Projects Fail

If one of your projects has ever failed, then you are already painfully aware of why projects fail. But these dreary topics bear repeating from time to time, because complacency breeds risk. In a post at Project Bliss, Leigh Espy reminds you of 10 reasons why projects fail, so you can stay vigilant about them: Unclear scope Not enough customer involvement Stakeholder disengagement Poor scheduling Lack of team input and buy-in Poorly planned costs Team ...

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The Ways You May Unintentionally Create Schedule Risks

Nobody sets out to make a project riskier than it already is, except perhaps Tom Sawyer in Adventures of Huckleberry Finn. Yet it still happens sometimes, mostly by accident. In a post at the Project Risk Coach, Harry Hall briefly describes a few ways you might inadvertently create schedule risks in your project. Risk Creation The first cause of risk is when you “crash the schedule”: It’s always been funny to me that the Project ...

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7 Ways to Mitigate Risk on Projects

If you conduct your projects the right way, some risk management is already baked into the equation. But to best control your project’s fate, you need to get more mindful and explicit in your actions. In a post for the PM Perspectives Blog, Elizabeth Harrin shares seven ways to mitigate risk and how to conduct each: Clarify the requirements. Get the right team. Spread the risk. Communicate and listen. Assess feasibility. Test everything. Have a ...

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7 Critical Project Management Mistakes

How do good intentions result in smoldering craters? What series of mistakes resulted in this critical mass? When it comes to project management, there is any number of culprits. In an article for DZone, Jessica Morgan outlines seven potentially woeful mistakes: Selecting the wrong person to be project manager Communicating poorly Not dedicating enough time to planning Lacking clear project scope Setting unrealistic expectations and deadlines Ignoring risks Neglecting client satisfaction Moments of Impact A ...

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