The term resilience is not used that often. New in the PMBOK© Guide 6th Edition it is represented in the chapter Risk Management as “Project Resilience”. Many of you will not know exactly what the PMBOK© Guide means. In this article I will show you what resilience means and specifically what it means for projects […]
In my last article: Successful Response Planning in Risk Management, you learned the basics of response planning in project risk management. Now you have to define the appropriate risk response strategy for the identified risks. With this strategy, you then react to your risks with effective actions. In this article you will learn about the […]
You are not defenselessly exposed to risks in your project! After you have identified and analyzed the risks in your project, you can start with the next step—with response planning. With appropriate actions you reduce or avoid risks or are ready when risks are about to occur. The planning of actions and their timely implementation […]
Do you know the difference between uncertainty and risk? Is there a difference at all, or is it about the same? When I am coaching project managers or business managers in their risk management activities, I often see identified risks that are not risks. If risk identification fails, subsequent steps in the risk management process […]
Do you know the difference between event and non-event risks? The PMBOK© 6th Edition now takes a major step forward in its treatment of risk. It does not only address a wider range of Uncertainty than the simple event, but also acknowledging the necessity to integrate project risk management with enterprise-wide risk management. This article […]
When we speak of project risks, we usually mean the risks that threaten an individual project or its objectives. However, if you look at the project landscape of a company, this is only one category of project risks. But project risk management does not only take place in projects themselves, but also at project portfolio […]
In my opinion, Risk Management is one of the most neglected topics in Agile Projects. In an earlier article, I showed you why Risk Management is also necessary for Agile projects. In this article, you will learn how to implement Risk Management in Agile projects, and what you need to pay attention to. Every Scrum Master, […]
A project without risks and problems exists as little as a life without death, because projects are by definition risky and associated with problems – and this is also the case with agile projects. With risk and problem management, project management offers effective tools for meeting these “challenges”. However, I notice repeatedly that the difference […]
Project risks are often ignored, and this issue extends beyond projects to larger, catastrophic events. On March 11, 2011, an earthquake and tsunami struck Japan, triggering a triple core meltdown at the Fukushima Daiichi nuclear power plant. Over six years later, former top managers of Tepco, the plant’s operator, stood before a criminal court for […]
In Risk Management, you define actions that prevent risks from occurring, or you use the actions to reduce the impact if the risks occur. However, if the defined actions do not work, or work too little, then you are at the mercy of the impact of the risk. To prevent this from happening, it often […]