Applying Monte Carlo methods to risk analysis does not need to be complex, and it should not be feared or avoided. Following these seven simple steps can help ensure robust and realistic modelling, and allow you to gain the benefits of this powerful technique.
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Any project can run into unforeseen risks. Managing these risks can take some time, but it is well spent. An Agile approach can help because the tenets of risk management are already built into the process. Here are some tips and considerations.
Would managing risk be easier and more effective if we adopted the IKEA approach to documenting the risk process, using fewer words, clear illustrations and simple tools?
Adversity on a project can come in many different shapes and sizes. Here’s one PM's usual five-step process for managing through issues on a project.
Does your project need outside help? You’ll need to consider a few things before making your pitch to the necessary senior leadership and actually bringing in an outside consultant. Here, we cover some key considerations.
The cloud is moving in and taking over. What does this mean for the typical project manager? And as importantly, what does this mean for the organization considering moving its projects into the cloud? Clearly there are some benefits, but there are also some potential challenges. In this column, we examine both sides of the issue in an effort to bring some clarity to project management in the cloud.
When something goes rotten in your PMO or project portfolio, all of your projects may be in jeopardy. The best way to handle crisis across multiple projects is to treat it like the train wreck it appears to be. Take a lesson from the medical community and triage the damage before you start trying to treat the wounded.
IT loves the cloud, but what does the business understand about the pros and cons? In this article, we take a brief, high-level look at some of the considerations that require business engagement--even if cloud-based project management is only being used on IT projects.
Communicating problems to stakeholders is a tricky task for project managers. Calling attention to every issue can annoy them and even destroy their confidence in you and the team. Letting a critical issue slide can be worse. The key is to prioritize and take ownership of the resolutions.
This cloud thing’s just not working...the silver bullet seems to have misfired. So what went wrong? A tool won't solve all of your problems; in reality, it's a combination of the tool, training, process re-engineering and integration with other corporate functions that will keep you up to speed.