A project comes to an end and now we are in a position to really critique or learn how things went. Ideally, we were learning all along, and now we have the final opportunity to review the project. If our organization has heavy project management influences, we may have a “white book” that captures the […]
Knowing a risk exists and not taking action is similar to standing on the tracks watching as the train nears. You must spend time creating alternative plans in the event the train does, in fact, come. It has been our observation that most project teams, under the pressure to deliver to the current plan, do […]
I have been having a running discussion with one of my colleagues regarding project and cost, specifically the cost of a project that is under consideration for termination. A project is going through a gate review. During this review we find that the objectives are not met by this phase and further action has little […]
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 […]
Several quality tools 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 (affect) our project and product. […]
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 […]
Okay – so we have worked with our team and have documented a list of risks, and have performed a qualitative or quantitative assessment – perhaps even both of these. Now what? One such risk management failure then happens when we place the risk register on a shelf somewhere and the subsequent planned actions are […]
Program trigger events were discussed in our last blog. We can set up a program data base that has inbuilt triggers or we can pick up on the issue if we build these triggers into frequent product development reviews. We feel the project/program manager is the primary party to monitor for trigger events. Secondarily, the […]
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 […]