Doing nothing is an acceptable response to potential project threats that are deemed relatively insignificant or highly unlikely to occur. But what do you do when risk mitigation activities have been curtailed and that improbable problem does indeed arrive? Communication and calm are critical, according to these project management experts.
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In the midst of the global economic crisis, some risk takers are being taken to task, and rightfully so. But not all risk is bad. Moving forward, what is the appropriate role of risk management and risk specialists?
Leonardo da Vinci said, “Simplicity is the ultimate sophistication.” When it comes to prioritizing risks, this is good advice.
Your organization is undertaking a major new project that will have a significant impact across the board. If we know anything about project risk, we know the bigger they are the harder they fail. What can you do to improve your chances of success? Here are some approaches to consider that will ensure your organization gets value out of the undertaking.
Beyond probability and impact, there are several other important characteristics of risks that project and portfolio management leaders can use to more instructively answer this seemingly simple but all-important question.
All the latest time-management and process-optimization tools in the world can’t make you stop procrastinating or hold a difficult conversation. Confronting the “elephant in the room” once a day, or even once a week, will make you a better project leader. Here are five practical tips for doing it today.
When it comes to risk management, pessimism and optimism have their roles, but it's best to aim for realism. Here are five steps.
Microsoft Project is an inescapable part of a PM's life. There seem to be two schools of thought on this tool, and our writer examines both of them in this two-part story. In the conclusion, our writer looks at some shortcomings. But are those a problem with the tool, or with the people who use it?
To manage risk effectively on our projects, we need to deal with uncertainty, understand why it matters, follow a structured process, and take into account the human side that influences judgment and decisions.