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Risk Management

Five Bad Communication Habits to Avoid

In a mediocre project, people are always aware that there are things they do not know, and they do not make an effort to seek clarification. They just get used to working under vague or incomplete direction instead, and the results are tenuous. A great project manager will not let that happen. In a post at the Project Risk Coach, Harry Hall describes five things not to allow in your project communications: Communicating only once …

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Risk Management Rules You’re Breaking All the Time

There are some general rules and guidelines that we all need to follow when it comes to risk management, but we don’t always follow those rules as closely as we should. In a post at the Project Risk Coach, Harry Hall points out some of these things that we need to start doing again. Risk Rules Broken The first, and easiest, thing to remember about risk management is to not overcomplicate it. When writing down …

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How to Identify and Remove Resistance to Change

Most people don’t like having their workplace rhythm disrupted by change. The uncertain future that change brings can be pretty daunting, regardless of where you are in the company. So naturally, there’s going to be resistance from people affected by it. In a post for the PM Perspectives Blog, Elizabeth Harrin explains how to assuage the apprehension toward change. Responding to Resistance Resistance is a completely natural response to change, especially if similar changes were …

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The Psychology of Risk and How It Affects Business

Organizational risk, project risk, and personal risk are all different things, but the human brain addresses each of them from the same starting point. There is a genuine psychology to risk, and considerable effort has been put into studying it. In an article for Risk Management magazine, Katherine Heires discusses the psychology of risk and some takeaways to remember moving forward. Planning for Crisis From financial disasters to natural catastrophes, people’s inability to properly weigh …

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Risk Response Strategies: Transfer or Avoid the Danger

As I’ve noted in other articles, a risk is an uncertainty that matters. Some event has a significant probability of occurring, and there will be a significant consequence if it does. A risk represents a threat, and a wise project team endeavors to identify project threats and analyze them for effective strategies, so that the probability of occurrence can be reduced or the consequences reduced. Or both. Of Mice and Risk Management Consider the following …

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How to Identify Risks with a SWOT Analysis

Project managers can use several tools to identify project risks, including interviews, brainstorming, checklists, assumption analysis, cause-and-effect diagrams, the nominal group technique, and affinity diagrams. One of my favorite techniques is the SWOT analysis, where you and your team can identify and prioritize strengths, weaknesses, opportunities, and threats. Once you’ve completed the SWOT analysis, you will have identified opportunities (positive risks) and threats (negative risks), inputs for your risk register. The information can help you …

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Use Feasibility Studies to Ensure Your Project Can Succeed

Pilot projects, management software, and agile implementations are all great avenues to getting a stronger hold on projects. But there might be something even simpler than those options for ensuring the viability of a pending project. In an article for Tech Pro Research, Mary Shacklett discusses the overlooked value of feasibility studies. Plausible Plans Shacklett describes feasibility studies as occurring during project preplanning, after project conception but before presentation of the project concept to management. …

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7 Rules for Project Managers Devised from the Trenches

Being a project manager is not mindless busywork. In an article for Project Times, Davide Carboni instead goes so far as to call project managers pirates, ransacking the ships of opportunity by doing things unheard of before. And from his vast multitude of experiences, Carboni has developed seven rules of thumb for great project management–that nobody seems to talk about: A project must deal with no more than one serious challenge. A project is behind …

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Conduct an Unshakeable SWOT Analysis in 2 Hours or Under

Where risk and opportunity are concerned, the SWOT framework is one of the most versatile go-to tools. Its ability to identify the internal and external factors of a project is what makes it so effective. However, the implementation can be a little tricky. To aid in this, Marian Haus gives a guideline on how to moderate a two-hour long SWOT meeting in her post for Voices on Project Management. Call in the SWOT Analysis Haus …

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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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