It’s easy to be taken in by numbers. But ultimately, metrics are just as fallible as people. The answer is not to adopt a nihilistic view—to give up numbers and data. No, the better way is to boost our data literacy and how we act on metrics.
Find answers to these questions and more in this Risk Management Practice Area. If you are new to Risk Management, take advantage of the resources below and don't be shy about commenting or asking questions. If you're a seasoned pro, help others out and become an influencer. We welcome contributions from all sources and the more you participate, the more visible you become. Let us help you move down the road from "giver of sage advice" to "Thought Leader".
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The PMI® Organizational Agility Conference returns bigger and better than ever as we examine evolving approaches to resilient value delivery! To remain relevant in the VUCA world, organizations and delivery professionals need to build change resilience—the ability to remain in a state of change while delivering value. This virtual conference will explore the concept of change resilience with professionals who are driving it within their organizations—and those who are living it as part of their own development.
Risk, cybersecurity, artificial intelligence, the Internet of Things—as technology transforms project management, PM professionals are either ahead of the game, or falling behind. Stay current and competitive with the 2017 PMI Information Systems & Technology Symposium. Exclusive to PMI members, this free, virtual event delivers a full day of intelligence on innovation and its impact on your PM career. • Gain insight into the tech-driven trends disrupting our industry, without leaving your desk • Network with the PMI global community while developing the skills organizations are looking for today—and tomorrow • Earn 6 PDUs • Get actionable intelligence you will not find anywhere else, tailored specifically for project and program managers Register today— Here are more details on sessions and speakers.
Overwhelmed by how technology is transforming project management? Looking to increase your productivity and learn new tech tools but don't know where to begin? No matter what your focus—medical, manufacturing, product design or otherwise—this virtual day of learning will deliver years of enduring value, with exclusive insights on how project managers are using new technologies.
With rising environmental concerns and global warming, there is an increase demand for electricity and other alternative energy sources around the globe, to deliver clean, reliable and affordable energy. Energy industries encompass a broad group of sectors - oil and natural gas, coal, nuclear, wind, solar, hydro, geothermal etc. Each of these industries contain very different types of organizations, and what constitutes risk in wind projects is far different than in nuclear. But they all share a similar challenge; to produce more energy at a lower cost with fewer emissions.
The webinar will uncover strategies to take care of financial risk, which may lead to bankruptcy issues for tier-1 /2 suppliers during the project execution and buying organization has no choice but to listen to their demand. How to avoid huge issues by just having a look on the issues much before the execution starts.
What can project managers do to identify and mitigate third-party cyber risks? As enterprises continue to outsource services, third-party cyber risks continue to rise. For example, cybercriminals are increasingly attacking enterprise networks by using third-parties as back-door entryways to networks. However, by learning about current trends in mitigating third-party cyber risks, project managers can mitigate these risks and increase the likelihood of their project succeeding.
Following in the footsteps of a seminal book The Black Swan by Nicholas Nassim Taleb, I will demonstrate key failures of traditional risk management and stakeholder management practices in projects where extreme unknown unknowns are concerned. A special attention would be given to explaining how identification of Black Swans and planning the response for them is different from the traditional techniques we apply with tractable risks (known unknowns). More importantly, I will address the Project Management Principle of „Embrace Adaptability and Resiliency“ in the 7th edition of Project Management Body of Knowledge (PMBOK) as the fundamental, if not perfect, remedy to negative impacts of Black Swans that we need to apply for the benefit of the project and its stakeholders.
This template is to be used by internal auditors for reviewing project governance and compliance with organizational standards. This template focuses on the project budget, resource utilization and project health. It can be further expanded to include other project constraints; add more details as per your organization's audit needs.
UPDATED for 2022! This spreadsheet has worksheets showing the results of a Monte Carlo simulation on a sample project's work effort hours, and a companion estimate using Statistical PERT. This way, you can see how you can use just the built-in functions of Microsoft Excel to do probabilistic, risk-based estimation. Textbox comments have been added to the worksheets to aid in understanding. Use this in conjunction with the article Risk Management Starts Sooner Than You Think.
UPDATED for 2022! Statistical PERT® (SPERT®) is a freely licensed, probabilistic, estimation technique. Use Statistical PERT to estimate uncertainties that have bell-shaped risk properties, like: task duration, work effort, revenue, expenses, agile story points, project portfolios, event attendance and more. Use in conjunction with the article Getting Beta with Statistical PERT.
The process of issue analysis and improvement can be performed on the job and with our daily personal activities alike. While most professionals would focus on presenting various options for solutions when encountering a problem on the job, you should emphasize full-scale analysis of the issue at hand. This presentation uses a common problem we all face to help illustrate valuable project management practices.
Utilice esta lista de verificación antes de comenzar su proyecto de ciberseguridad.
Let’s face it—not too many people want to be measured. However, done right, a scorecard can become a much-appreciated way for project teams to demonstrate how fast, effective and proficient they are in delivering project objectives.
Read how a Navy engineer utilized his project management and technical engineering expertise in the wake of a pair of recent natural disasters, leading a team of engineers on a three-week long disaster response project in Haiti—facing a variety of challenges on the journey.
There is no “silver bullet” solution to disaster recovery data management. However, an experienced, knowledgeable PMO team equipped with a low-code PMIS solution can turn this unpredictability into an advantage for owners.
Some of the skills this project manager acquired over the years helped him manage the most difficult project of his life, one that is ongoing. Here he shares some of the lessons learned during his journey.
Define the scope. Build a budget. Create a schedule. The legacy triple constraint has served us well. But we need to adjust our thinking with these three new sides to our project management triangle...
Project leaders must cope with many uncertainties, from requirements to schedules. These uncertainties can’t be removed but they can me managed and often mitigated. Here are some strategies and actions to address risks, reduce ambiguities and retire unknowns.
Risk is being reinvented—and that’s a very good thing. There’s a lot more to project uncertainty than simply identifying, assessing, prioritizing and managing risk. It's time we fully embrace all of the elements of uncertainty.
How do new project managers determine whether issues are something they should worry about or whether they are simply “noise”? In the absence of experience, try this approach.
Modeling should be at the core of project management. So, where have we gone wrong? Did we lose the narrative and accept the arguments that these tasks are outside our active concern scope and leadership abilities? The simple answer is, we have.
Measurement has always been an essential part of project management success. The discipline has recently achieved even greater prominence as a project performance domain. Use these tips to refresh your measurement skills and increase performance.
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