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How to Identify Scope Risks for Clear Sailing

It’s not too hard to believe that some of us do not have a perfect understanding of scope. But when the idea of scope is fuzzy, it will not be possible to identify all the critical scope risks—which can be costly. In a post for the Project Risk Coach, Harry Hall says, “It’s like an overdrawn bank account. There are all kinds of penalties and fees” when scope risks are left unaddressed. There Is No ...

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3 Dimensions of Signs That Your Project Will Fail

If a boy runs for class president and loses, it could be for a spectrum of different reasons. Maybe someone else ran on a better platform. Maybe the boy had no charisma. Maybe the boy accidentally ran for president of the wrong school. IT projects can fail for an equally diverse spectrum of reasons. In an article for CIO.com, Moira Alexander examines three potential culprits for where your project could be going wrong. Dimensions of ...

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How to Manage Project Risk While Running Your Project

Managing risk is one-and-done in the same way that getting a haircut is one-and-done: There is no such thing. In a post at Project Bliss, Leigh Espy shares her process for managing risks over the life of the project, while still making time for everything else associated with the project. Risk in Paces You want to begin by creating a project risk matrix, which should include “trigger activities” that describe when action is needed. Watch ...

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Managing Risks That Evolve over Time: 3 Cases

Most project managers are used to making a qualitative risk analysis in two dimensions: the likelihood that an event will occur, and the impact of the event. And most risk management plans include some sort of “T-shirt” sizing scale to facilitate classification of probability and impact as small, medium, large, and so on. While not particularly rigorous, this approach does have the benefit of getting SME participation without making great demands on their time or ...

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3 Essential Steps to Control Scope Creep

We think of scope creep as an insidious thing that grows just out of sight, like mildew in a bathroom. And sometimes that is exactly right. However, not all scope change is scope creep, and sometimes a change in scope can make the critical difference between creating business value or business waste. In a post for the PM Perspectives Blog, Susanne Madsen outlines three steps to control scope change of all kinds: Be clear on ...

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How to Keep Your Risk Management Genuinely Simple

Author William Gaddis once said, “Simplicity is the ultimate sophistication.” The best project managers understand project management and know how to keep things simple. Some project managers are guilty of using complex risk management processes and lingo that few people understand. Team members finds themselves lost. They may be thinking, “What planet is this guy from? Sheesh!!” Risk management does not have to be complicated. Really. Allow me to share seven simple ways to manage ...

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Risk and Rio: Where to Begin?

The Olympics are well underway, and already risks have been averted and risks have been realized. In conducting any kind of comprehensive risk analysis of the Rio Olympic Games, the challenging question is where to begin. The Olympic Games have a history of risk. But when examining the Games as a project, those in charge would be wise to take a project management perspective. That means by establishing the risk boundaries for the entire event ...

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7 Ways to Be a Needed Risk Management Evangelist

Risk management is a cornerstone to effective management, and it is directly linked to high-performing companies. So how can a manager properly embrace risk management and transform his or her projects into successes? In a post for The Project Risk Coach, Harry Hall shares how to adopt risk management. There are seven ways to better incorporate risk management: Identify the leaders. Educate the stakeholders. Acknowledge what risks stakeholders are already managing. Start simply. Connect risk ...

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What Should You Do When Your Project Goes Wrong? 7 Steps

Any project manager can tell you war stories about how some of their projects went terribly wrong. In fact, projects rarely go according to plan because it’s impossible to plan out every possibility that may happen in the future. That’s why the Project Management Institute (PMI) recommends setting aside a contingency budget before the project begins to deal with emergencies when projects don’t go according to plan. Since projects are more risky by nature than ...

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The Way You Describe a Risk Is What Makes It Manageable

Project managers know that risk management is an ongoing process, and risk identification happens throughout the project life cycle. In many projects, the team is empowered to draft risk log entries. Of course, one of the basic requirements in identifying project risks is describing each risk in such a way that it is meaningful to management and other stakeholders who aren’t part of the project team. If you’ve ever seen a risk log entry like ...

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