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Middle managers are often seen as one of the biggest roadblocks to Agile team success. Here, agile transformation coach Chris Matts discusses the important organizational role they can play in mitigating risk and supporting decision-making processes like “feature injection” to deliver business value. [23:50]
The portfolio is the cornerstone of applied organizational risk management, but it is also where there is less day-to-day focus so risks can slip through the cracks. In response, we must identify risk owners at the portfolio level and connect project activities with business concerns such as idea-generation and benefits realization.
Risk management at the organizational level differs in fundamental ways from the processes followed by project managers and teams. But the approaches must still support each other. Here are some considerations for creating a process structure that takes into account risk at both the project and portfolio levels.
Much of what we do in our personal and professional lives is automatic and unthinking. In the lives of projects, this complacency can blind us to critical risks. Learning to practice mindfulness can help us see risk more clearly and manage it more effectively.
Partnerships are the key to successful risk management that goes beyond the project level. That means building processes that are consistent from project to program to portfolio. It also requires fostering open communication lines throughout the organization, from junior team members to senior executives.
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.
Sustainability has become increasingly important to organizations as both a business objective and a necessary constraint. But what does it mean? And how should it be included in the risk process? Here are five areas that should be considered.
Complex projects feature interconnections and dependencies that create unpredictability and particular types of unforeseeable or emergent risks. To cope with these special challenges, we must go beyond traditional risk management processes and develop flexibility and resilience at multiple levels.
A new guide from Project Management Institute helps practitioners and organizations understand and address complexity in projects, including sections on alignment, behavior, standards and developing an action plan.
Management reserves address the fact that not all project risks can be identified up front — the “unknown unknowns.” Many organizations fail to recognize the need for these reserves, and many more set them arbitrarily. But ignoring the importance of reserves is a risk in itself, and guessing how much to allocate for them is just bad management.
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