299 Search results

For the term "Risk Management".

Risk Management: Quit Harping and Start Affecting

Oftentimes, project managers are talking about risks and it seems that no one is listening. Learn to use the risk management process to affect the project in a positive way using these four guidelines.

Risk Management for Program Managers

Program management is a relatively young discipline within the project management profession. That means there are fewer tools and techniques to address the challenges of program risk. At the same time, the larger responsibilities of program managers mean greater disruption from risk events. Consider the following findings about the state of program management…

An Iterative Risk Management-Based Strategy for Benefits Realization

Project managers can facilitate benefits realization and–more strategically–the project management function. That encompasses the three Ps of project management, which can play the crucial but often missing organizational role that will embed benefits realization in strategy execution and–by extension–program and project delivery.

A Risk Management Partnership

Organizational risk management requires alignment across all levels of execution, including project, programs, portfolios and the PMO. This includes consistent reporting and approval processes as well as a culture that facilitates communication among team members, senior executives and stakeholders.

Risk Management: What Intuition Can Bring

Through your own intuition and “sixth sense,” you are managing risks in a project without even knowing it. Learn how intuition replaces risk management rigor in resource-constrained environments.

The Implementation of Risk Management

Risk management allows a company to strike a balance where growth and related risks are in line with the strategy and objectives of the company. In order for these processes to function efficiently and effectively, there must be enterprise-wide commitment and involvement in day-to-day risk management activities. Properly implemented, risk management can immediately add value to your company.

Top Risk Management Concerns

This article explores the highlights and interactions of risk management over the other areas of project management in a comprehensible manner and projects it over common “real” project situations.

Risk Management: A Critical Component to Successful PM

Risk management is often discussed, but it is amazing how few project managers truly embrace the process. This article presents an overview of risk management in context to project management, and shares some guidance on the components that should be considered when implementing a risk management process framework.

Effective Risk Management

Few project leaders want to spend the up-front time and money to actually put together a risk management plan, but it truly needs to be your first step in effectively managing risks on your project. Your planning needs to include four steps in order to be effective and in order to be a “sellable” tool in your PM process.

Risk Management, After the Crisis

In the midst of the global economic crisis, some risk takers are being taken to task, and rightfully so. But not all risk is bad. Moving forward, what is the appropriate role of risk management and risk specialists?

Framework for Integrating Project Quality, Risk Management, and Integration Management into Earned Value Management (EVM) for Deriving Performance Based Earned Value (PBEV)

Multidimensional project control systems, which integrate the critical to quality metrics of the project quality management, risk management, and program integration requirements into the earned value management system, delivers capability for the enterprise project team(s) in measuring the performance-based earned value of the project deliverables.

Agile Risk Management

Agile approaches do not have risk management approaches built in as standard; they have the integration points, but not the steps required. Fortunately, with a little effort, we can fill those gaps and equip teams with the skills they need to address risks and opportunities effectively.

Risk Management Process Measurement

Huge online community of Project Managers offering over 12,000 how-to articles, templates, project plans, and checklists to help you do your job.

Agile Risk Management: Harnessing the Team

Last month we looked at how agile methods provide multiple opportunities for embracing proactive risk management. This month’s article extends risk management beyond the project manager role and introduces the benefits of making it more of a collaborative team exercise.

Continuity Risk as a New Classification in Project Risk Management

Continuity risks directly impact an organization’s ability to continue its services or objectives. Drawing on the best practices of business continuity management (BCM), the author explains how formulating a responsive plan to manage continuity risk provides benefits to robust project performance.

Agile Risk Management

Agile methods incorporate many mechanisms for dealing with late-breaking changes that also lend themselves to proactively responding to risks. Here we explore how these methods make effective risk management easier to implement.

Life Or Death: Risk Management in Health Care

Poor risk management can be fatal to any project. But what happens when properly planning for risk factors really is a matter of life and death? This article examines how the staff at Children’s Memorial Hospital in Chicago moved more than 100 critically ill children from an aging facility to the new Ann and Robert H. Lurie Children’s Hospital of Chicago.

Planning, Assessing, Analyzing and Monitoring Country and Political Risk During the PMI Risk Management Process

Pursuing overseas or cross-borders business requires an understanding of the country and political risk—it is, indisputably, a key consideration. The author demonstrates how PMI risk management processes and best practices can be customized to expand the picture of country political risk assessments, identification, analysis and monitoring.

PMO Risk Management

One of the unsung PMO functions is managing risk. There are a lot of aspects of risk management where the PMO can provide tangible support to project managers in their endeavors. In this article, we explore some of that support in terms of identification, analysis and response.

Fast Tracking: A Special Area of Risk Management

Fast tracking can shorten a project’s schedule or easily cause rework to be required. It is of utmost importance to carefully weigh the risks prior to deciding whether or not fast tracking is the right option for the project. A quantitative estimate for calculating the monetary value translates the risk into hard currency.

3.5 Steps to Effective Risk Management

Not all project teams have the luxury of adequate time and budget to clearly define all elements of a project prior to starting delivery. This is not to say project managers shouldn’t be very detail oriented, but rather look for a balance between building a detailed plan and the business need to quickly deliver.

Risk Management in Agile Projects

Agile projects have dynamic and uncertain environments. It becomes an arduous task for the agile PM to identify and manage risks. How can risks be effectively identified and mitigated?

Risk Management Building Blocks

There are four characteristics that every organization must possess to make enterprise risk management work. Some of these prerequisites will take more time to develop than others, but that shouldn’t keep you from getting started with a pilot effort that can show the way.

Visual Ishikawa Risk Technique (VIRT)—An Approach to Risk Management

Visual Ishikawa Risk Technique (VIRT) is a technique that is consistent with the Identify Risks process group of the PMBOK® Guide and uses a risk breakdown structure as its main principle artefact. However, it differs in that it uses the Ishikawa diagram (commonly also known as a fishbone, or cause and effect diagram), for the risk structure, to create a graphic view, as opposed to being text based or tabular.

Risk Management Starts Sooner Than You Think

We can’t simply equate risk management to the project’s risk register. In truth, risk management starts the moment we make any estimate about a project’s future state. One easy way to make probabilistic estimates for project uncertainties is to use Statistical PERT®.

Wither Risk Management?

Why do so many project managers fail to deal with risks on their projects? In this article, we examine some of the reasons and explore some ways to tackle the problem.

Getting Project Risk Management Right: Q&A

In his Getting Project Risk Management Right webinar, Mario Trentim explained that we have to understand what project risk management is and what it is not so that we can get project risk management right. The session was packed with information, and here we cover the questions and answers that came out of that webinar.

Day Trading Risk Management – Best Skills

In order to be a successful day trader, you need to learn and implement risk management. This requires understanding what risk is, how it is useful or harmful, and how it can be controlled.

Forex Risk Management – Best Skills

Learning how to properly manage your forex risk can make or break your trading career. Here some core ideas that will help you to trade safely and with confidence.

Risk Management – Best Skills

Controlling risk is the name of the game for traders and investors. Learn the various strategies by which investors can manage the risks associated with options, including controlling position size and learning when to walk away.

Ratcheting Up Enterprise Risk Management

Agencies are improving their risk management efforts by taking a portfolio view of areas of risk, which can help agencies safeguard assets and deliver services more efficiently.

Times, UK: Diversity and Risk management

From the Times: The failure of financial institutions to manage risk and the role this has played in creating today’s economic crises has created awareness of the need for a new risk-management approach. This may well become the new Holy Grail of financial economics. There are two essential constituents: first, developing a more diverse mindset regarding financial risk; and second, applying more powerful techniques to capture financial reality than risk managers have used in the past. A new method for risk management does not mean that all elements of the present system must be replaced or that all the discredited financial instruments they spawned should be discontinued. Discrimination is needed: Many existing techniques have validity, but only in certain market conditions; and innovative financial products can contribute to wealth creation, but only if they are used judiciously. A new approach must start by understanding the reasons for the failure of risk-management systems. Why did risk models grossly understate risks? Why did managements fail to understand this? And why did regulators fail to provide effective checks and balances against the banks’ risk-management mistakes? ( Read the entire article.)

Corporate Executives Report Need to Overhaul their Approach to Risk Management

NEW YORK–(BUSINESS WIRE)–The vast majority (85 percent) of corporate executives say they need to overhaul their approach to risk-management if the lessons of the economic crisis are to be used to improve business results, according to results of an Accenture (NYSE: ACN) study released today. Accenture’s 2009 Global Risk Management Study, based on a survey of 260 chief financial officers, chief risk officers and other executives with risk-management responsibilities at large companies in 21 countries, also found that 40 percent of respondents said that their companies already have increased or will increase their investments in broader risk-management capabilities in the next six months. Nearly another third (31 percent) of respondents said their companies are currently considering increasing their future investment in risk management capabilities. Read the full release.

Enterprise Risk Management

Enterprise Risk Management includes all the tools and processes employed by an organization to manage and control risks and grab more opportunities in the market place.

Risk Management as a Profession

Risk management has evolved from being just a discipline to a full-fledged profession. There are lot of Career opportunities in Risk Management.

Various Aspects of Risk Management

The process of risk management not only involves controlling the threats or reducing their negative effects. It is a much deeper concept that also involves risk avoiding as well as risk taking.

How to create a Risk Management Plan ?

A good risk management plan carries number of tools and strategies to mitigate risk. The strategy may be to avoid risk or transfer a component of it another project so that the impact is reduced.

Risk Management and Stock Market

In stock market there is a very strong relationship between risk and return. Generally, greater the risk, greater the is the return. Risk is therefore central to stock markets.

Evaluation of a Risk Management Plan

The article discusses about various steps that can help the organizations in analyzing and evaluating a Risk Management Plan.

Principles of Risk Management

The Project management body of knowledge (PMBOK) has laid down 12 principles. This article discusses about the various principles of Risk Management.

Change and Risk Management in ERP Implementation

There are several organizational issues that could lead to failure of ERP projects. To minimize these risks, adoption of proper change and risk management process, plays a crucial role.

Risk Management Articles

The page contains list of all the articles on – Risk Management.

Risk Management – A Basic Understanding

Risk Management is the process of minimizing the risks in an organization. It starts with the identification and evaluation of risk followed by optimal use of resources to monitor and minimize the same.

Risk Management Process

As per ISO 31000 Risk Management Process consists of the mailny 3 steps – Establishing the Context, Identification and Assessment.

Role of HRD in Risk Management

The importance of Human Resource Management can not be neglected when companies are operating in such a volatile and unstable environment. The HRD plays a vital role in risk management.

Portfolio Selection and Risk Management | Coursera

Portfolio Selection and Risk Management from Rice University. When an investor is faced with a portfolio choice problem, the number of possible assets and the various combinations and proportions in which each can be held can seem overwhelming. …

Portfolio and Risk Management | Coursera

Portfolio and Risk Management from University of Geneva. In this course, you will gain an understanding of the theory underlying optimal portfolio construction, the different ways portfolios are actually built in practice and how to measure and …

Financial Engineering and Risk Management Part II | Coursera

Financial Engineering and Risk Management Part II from Columbia University. Financial Engineering is a multidisciplinary field involving finance and economics, mathematics, statistics, engineering and computational methods. The emphasis of FE & …

Financial Engineering and Risk Management Part I | Coursera

Financial Engineering and Risk Management Part I from Columbia University. Financial Engineering is a multidisciplinary field drawing from finance and economics, mathematics, statistics, engineering and computational methods. The emphasis of FE & …

Relating Project Risk Appetite to Project Management Activities

The alignment of project management activities with project risk appetite can be a powerful tool to help illustrate and communicate the relationship between these two important areas. Adopting a more formal process to frame and document project risk appetite can maximize positive outcomes.

Enhanced Risk Assessment Matrix for the Management of Project Risks

There are many tools available to assess project risk. However, the tools may be used infrequently due to the lack of a prescriptive risk management protocol coupled with an abundance of options. The author details the relative benefits of the Risk Fishbone Diagram and the Enhanced Risk Assessment Matrix (ERAM), and explains why they may be the only two tools necessary to facilitate risk management for most projects.

Applying Risk-Driven Project Management to Achieve Success in Complex, Innovative Projects

In today’s rapidly changing corporate environment, innovative projects often must be completed in a very short time frame. After a thorough analysis of different methods and tools, the authors developed the Risk-Driven project management method (RiD) to facilitate the creation of complex enterprise value. Applying the 12-point maturity-value-success metric (12-point MVS metric) can help ensure proactive risk monitoring.

Growing Talent Management Firms: Managing Risk

With rapidly changing business environments and multiple employees making a myriad of daily decisions, companies are always at some risk. Dr. Stephen Cohen offers 10 general guidelines for managing risk.

Project and Change Management: Yin and Yang?

The terms “project management” and “change management” are often used interchangeably. But at best, the core functions and skills merely serve to complement one another. Failing to recognize the differences (and when one and not the other is needed) is a risk—not only for a project, but also for the organization.

Risk Finale

Our 12-part series on organizational risk management concludes with a call to action — it starts with assessment and identification … leads to investment, buy-in and ownership … and makes use of tools and concepts like the risk profile, capacity and constraints hierarchy.

Enterprise IT Integration Framework for Integrating Positive Risks into Project SDLC Processes

Positive risks always exist, whether or not they are detected or recognized by the project management team. In the context of IT project/program risk management practices, project team(s) are predominantly focused on negative risk identification, related priorities, the probability of occurrence, and associated impact on the project goals/objectives and risk response–planning strategies such as avoid, mitigate, transfer, and accept to address the negative risks. It is important that the project management team is cognizant of the risk/reward duality and that they implement the positive risk/opportunity management integration rigor into project systems development life cycle (SDLC) processes.

Risk Rules

When it comes to risk management, hope is not a strategy … all single point estimates are wrong … and communication is everything. Understanding these principles and two others are the only way to turn risk management theory into meaningful practice.

Risk Rules

When it comes to risk management, hope is not a strategy … all single point estimates are wrong … and communication is everything. Understanding these principles and two others are the only way to turn risk management theory into meaningful practice.

Managing At-Risk Knowledge Adds Value

This article presents a structured approach to managing the risk of losing critical knowledge due to resources becoming unavailable for the project. For key resources, the activities of this approach are ideally carried out even before the project is fully ramped up and before project risk management is fully underway. The four sequential processes-initiate, analyze and plan, execute, and close-ensure that the project’s risk exposure to knowledge loss is effectively reduced in an efficient way.

How to Plan an Information Technology (IT) Risk Assessment

Risk management is the process that allows IT managers to balance the operational and economic costs of protective measures and achieve gains in mission capability by protecting the IT systems and data that support their organizations’ missions. The purpose of performing an IT risk assessment for IT systems is to minimize any negative impact to an organization and provide a sound basis for management decision making. Effective risk management must be totally integrated into the software/system development life cycle.

Take a Risk (Part 1)

Don’t let today’s risks become tomorrow’s problems, and don’t sit back and wait for events to happen. Take a proactive approach to managing uncertainty. In this article, you will learn how and why using this risk management approach can greatly increase the chances of delivering your project on time and on target.

Take a Risk (Part 1)

Don’t let today’s risks become tomorrow’s problems, and don’t sit back and wait for events to happen. Take a proactive approach to managing uncertainty. In this article, you will learn how and why using this risk management approach can greatly increase the chances of delivering your project on time and on target.

Risk Doesn’t Have to Be Scary

The word ‘risk’ can conjure up strong emotions in project managers. But pair ‘risk’ with ‘management’ and you’ve got a rational process for dealing with the unknown.

Risk Doesn’t Have to Be Scary

The word ‘risk’ can conjure up strong emotions in project managers. But pair ‘risk’ with ‘management’ and you’ve got a rational process for dealing with the unknown.

Risk Doesn’t Have to Be Scary

The word ‘risk’ can conjure up strong emotions in project managers. But pair ‘risk’ with ‘management’ and you’ve got a rational process for dealing with the unknown.

Automotive Embedded Project Management and Product Development

Embedded products for automotive applications typically follow a very rigid development process. The details vary from Original Equipment Manufacture (OEM), however, the need for risk mitigation is the same. Development for vehicle systems can be quite costly. Additionally, mistakes can have a heavy impact on quality perception as well as legal ramifications.

Advanced Project Management Pitfalls: Purpose, Not Process

Our bias toward comfortable processes hides the root cause of failure. One of the root causes on experienced teams? The misalignment of purpose and process. Here, the author provides an easy-to-implement, purpose-driven organizational methodology that helps eliminate this risk.

Transforming the Risk Register into Enterprise Value

There is an opportunity for organizations to uncover the hidden potential of individual project risk registers and transform risk data into enterprise value. This can be done by developing a set of metrics that link the quality of the risk management process to project outcome.

The Risk Facilitator

Risk facilitators play a critical role in the risk management process, leading discussions that identify, assess and develop responses. To be effective, facilitators not only understand risk principles and processes but also projects and people. And they are adept at three facilitation styles, knowing when each is most appropriate.

Build a Better Risk Plan by Pretending to Fail

Do you have team members that don’t want to be seen as negative thinkers, thus hindering your risk management efforts? This PM decided to turn things around and came up with a technique that turns finding a threat into a positive thing.

Research Results: What IT Project Managers Think About Financial Investment Firms Pursuing Straight-Through Processing With Agile and Workflow Management Systems

Changes in the financial services sector have made achieving straight-through processing—a dedicated commitment to settle a securities transaction within 24 hours and minimize risk—a monumental effort. Can agile software development and workflow management systems have a positive impact on addressing straight-through processing?