Risk Management

Nobody likes to think about what may go wrong on a project, but to overlook risk management means that you chance an unnecessary project failure.

Project Risk: Is It All Bad?

No one would disagree that managing risk within a project is not a good idea. Risk Management is an essential part of any programme or project and can vastly contribute to successful delivery. Where it can and does go wrong is when there is an over-reliance on the risk aspects of the project and they in themselves start driving the way the project moves forward. The management of risk is part and parcel of project management, but is not the be all and end all of it as it sometimes becomes in more risk averse organisational cultures.

The Principles of Risk Management

Every project manager and business leader needs to be aware of the practices and principles of effective risk management. Understanding how to identify and treat risks to an organisation, a programme or a project can save unnecessary difficulties later on, and will prepare managers and team members for any unavoidable incidences or issues.

Is Software Development Risk Costing You Money?

Poor software project management often means missed deadlines, cost overruns or even outright failure of the project. How can your company avoid this industry-wide problem? In our brief you'll learn best practices for successfully completing software projects.

Ranking Risks: Rare to Certain, Negligible to Catastrophic

Risk is a concept that denotes a potential negative impact to an asset or some characteristic of value that may arise from some present process or future event. In everyday usage, risk is often used synonymously with the probability of a known loss. Risk is measured in terms of impact and likelihood. Since risk is directly correlated to loss, it is important to be able to assess risks in one's business and to address them. Needless to say, inattention to risks can definitely affect a company's bottom line.

10 Golden Rules of Project Risk Management

The benefits of risk management in projects are huge. You can gain a lot of money if you deal with uncertain project events in a proactive manner. Experience shows that 10 golden rules exist to implement risk management successful in your project.

Project Management: Stakeholder Risk Management

Is it really true that on time, on budget, and fulfilling all requirements means project success? Whose requirements are we really trying to meet anyway? And who decides if the original due date can be changed when the scope grows? In this article we'll address the people swirling around your project, stakeholders. You'll find some useful tips and other resources for optimising stakeholder involvement in your project.

Risk Management Options

Risk management is an ongoing process to identify potential problems that could arise when new projects occur within a business. There are various tasks that need to be completed so the overall goals of a project can be fulfilled.

Your Risk Management Process: A Practical and Effective Approach

A solid risk management process can help to make a project run smoothly. By identifying and addressing a list of project risks as part of a larger project management system, many surprises and roadblocks can be eliminated. Learn more about the definition of a risk as well as the steps that should be a part of your business's risk management process and how you can incorporate such a process into all projects going forward.

Project Risk Management: It's Either Contingency Planning Now or Emergency Relief Later

Proper project risk management entails more than simply identification and analysis at the beginning of a project. Risk management must be integrated into the project plan, consistently applied, and clearly communicated throughout the life cycle of the project.

The Risky Business of Project Management

Undertaking any project, whether in-house or in partnership with a professional services firm, entails risk. Project risk is defined as any area of concern that could prevent a project from achieving all of its benefits. Project risk requires careful management and involves identification, assessment, and mitigation.

The Top Five Software Project Risks

I recently posted an entry on a risk assessment tool you can download and use. Risk management (or more precisely risk avoidance) is a critical topic, but one that is often dull to read about and therefore neglected. One of the few useful and entertaining books on the subject is "Waltzing with Bears: Managing Risk on Software Projects" by Tom Demarco, Timothy Lister, authors of the ever popular "Peopleware." This post provides a useful summary of their top 5 software project risks.

Project Management: Risk Management

In many projects, risks are identified and analysed in a random, brainstorming, fashion. This is often fatal to the success of the project, as unexpected risks arise, which have not been assessed or planned for and have to be dealt with on an emergency basis, rather than be prepared for and defended against in a planned, measured, manner.

Reducing Risk and Increasing the Probability of Project Success

IT systems are at the heart of modern business and the development of new software applications and maintenance of existing systems are critical to productivity and profitability. Advances in software technology over the last 20 years have allowed progressively more complex business solutions to be created enabling companies to offer their customers exciting new services and products. And yet, software development projects still suffer from similar problems and characteristics, regardless of the technologies being used, that they suffered from more than ten years ago.

Project Risk Management

Several techniques are available that you can employ to identify risks to your projects. Some project managers rely on regular team meetings, brainstorming sessions, reviews with stakeholders or experience from similar projects.