The 2018 August book club is one of my FAVORITE topics -- Risk! "Project Risk Management - A Practical Implementation Approach" by Michael M. Bissonette. ISBN:978-1-62825-115-9
I'm looking forward to the discussion and have a few questions in mind. Here's ones at the top of my list...
1) Michael discusses the Risk Meta Language, yet it was dropped from version 6 of the PMBOK guide! Maybe we can get a comment or two on that.
2) Micheal does not describe positive risks. He describes risk as negative and then there are "opportunities." Why the departure from several current risk standards?
3) I'd like to hear Michael's thoughts about a phase-gate project management process and if it reduces overall risk.
Anyone else? ProjectManagement.com is bringing us an expert author -- and this is your chance to listen to him and discuss his thoughts and opinions. A great opportunity! Saving Changes...
Janvier NdayisabaManager| Fuzzy International General TradingDar Es Salaam, Tanzania, United Republic Of
Jul 31, 2018 12:03 AM
Replying to Mike Bissonette
...
Hi David, et al. Thanks for the thoughts. Here are some inputs:
1) I advocate use of the meta language tandem for risk because many people struggle with risk descriptions and this is the most useful way of helping, from a practical stand-point. We must articulate both risk and cause and it should be concise -- this tools facilitates that.
2) I understand why PMI uses the term positive risk for opportunities -- for it enables opportunities to be aptly covered within the risk discussion. This definition does, however, depart from the dictionary definition of risk, so I try to be as agnostic as I can, for most business people I know refer to risks and opportunities on a regular basis and I do not want to alienate (or argue with) them in any way by insisting upon the use of positive and negative risk. I thus use the term "risk (threat)" when communicating the negative impact, and "opportunity" when referring to the opposite -- a "practical" way of addressing this topic
3. I address the phased approach in Chapter 2 under Product Development Cycle (pg. 13), and clearly support this as a way of managing overall project risk. What this does, if implemented properly, is allow for resetting the project baseline at various stages, when progress has been made, risks have been either eliminated, mitigated or not (i.e. turned into issues), and a more solid go-forward plan is able to be constructed. The DoD has done this via breaking programs into projects and establishing continuation follow-on projects over time (e.g. maybe letting several Exploratory Development contracts, followed by a down-select to fewer Advanced Development contracts, followed by one or more Engineering Manufacturing Development contracts, etc.). Basically, this enables you to make some overall cost, schedule, scope and quality assumptions to take away some early risk, then re-baseline subsequent work based on the outcomes -- lower overall program risk.
Enjoy. Looking for more comments/suggestions.
Bests,
Mike
Very clear, how can I find this book? Saving Changes...
Mike BissonetteBusiness Executive, Adjunct Professor, Training Consutant, Author, Entrepreneur| RTConfidenceLaguna Hills, Ca, United States
Mike BissonetteBusiness Executive, Adjunct Professor, Training Consutant, Author, Entrepreneur| RTConfidenceLaguna Hills, Ca, United States
Hi all. This book club activity (regarding my book "Project Risk Management: a Practical Implementation Approach") is scheduled to close on October 17th with a Q&A Closing Webinar convening at 2pm eastern that day. Thanks for participating. Hope to see you at the closing. Please come with your questions and/or comments. I am also available to take questions/comments beforehand. Its been a pleasure.
Bests,
Mike Saving Changes...
PMI Team Member
