Posts Tagged
‘risk’

The longer a project is active, the more likely there will be interference with the other projects the organization undertakes. We believe this is one of the attractions of scrum or the other agile project management methods, which are designed to offset the fallacious multitasking approaches. In these agile models, we find the project team […]

To highlight one more time how we often do ourselves more harm than good, we will have one more short case of how we can make an already risky situation even worse. Consider the vehicle manufacturer that is working a project to meet a new and more stringent pollution emissions regulatory target from the government.  […]

There is a saying: “if you change form, fit or function, you change the part number.” On the surface this seems like a good saying. People use this saying as rule of thumb to determine if a new part number is required.  Taking out new part numbers cost the company some administrative time and effort […]

Every time we make a decision, we reduce the probability of some risks but may increase the probability of other risks. Consider where the following story may fit into our discussion. We have a project that should have, in fact, started months ago to meet the desired production introduction date.  Unfortunately, that did not happen […]

There are a number of quality tools that can help to evoke the risks that may be associated with your project. One such tool usually associated with cause and effect is the Ishikawa diagram. We can use this tool to explore risks as well. We will explore what happens (cause) and how it will impact […]

There are times when the project manager will be subjected to the long list of potential risks brought to them by their team.  Handling these issues rather than summarily dismissing the item being brought to their attention as input from a hypercritical or doom-centric team member is important for project success and team morale.  If […]

We perform risk audits on projects to ascertain whether we are deviating from the desired budget, schedule, and quality levels we specified at the start of the project. At the 50,000 foot level, risk auditing looks like the following: Define the problem Choose an audit team leader Choose an audit team or let the leader […]

A contingency in project management is a reaction plan to an untoward event; in short, we plan ahead for the failure of a given task. In order for a trigger to “fire,” we must set a threshold value that activates the trigger; otherwise, the trigger should never fire. Thresholds can be set based on financial, […]

Risks need to be assessed in regard to their business impacts, so that business decisions can be made promptly.  Strategies should be built and decided based on the quantitative value of the risk. Managers must decide on whether to spend $500,000 to avoid a delay in a project.  How long that delay is impacts the […]

Experience suggests risk management happens after we have already encountered numerous and severe risks.  We can see engineers bringing “risks” to the project manager when we are already witnessing the symptoms and the impact to the project is inevitable. To be relevant, risk management has to occur when there is time to plan actions that […]