Risk management is about looking for uncertainties that could jeopardize company goals, project goals or your personal goals. However, you are often surprised by events that you did not expect at all, but were not unlikely to occur. When such events occur, however, they often hit like a bombshell. The Swiss National Bank (SNB) produced […]
VUCA is a term that describes the unpredictable and rapidly changing nature of the modern business environment. VUCA is an acronym that stands for volatility, uncertainty, complexity, and ambiguity of general business conditions, market situations and world events. In this article, I will show you exactly what the components of VUCA mean and we will […]
The importance of risk management in projects can not be emphasized enough. This seems obvious, but unfortunately most project managers or agile teams have not yet recognized this. In recent years, the ROAM Risk Model has become established in agile projects at team level, but also at higher levels in scaled frameworks, e.g. in SAFe. […]
There are many types of risks that threaten your project. These depend on the type of project or the industry sector in which it is carried out. One particular type of risk that is often ignored, however, are the assumptions that are made in most projects. “We assume this will be the case or this […]
What are the biggest mistakes made in risk management? I have seen and experienced a lot in risk management in the last few years and have written extensively about it. That’s why I was wondering what artificial intelligence (AI) thinks about this topic, so I asked ChatGPT about the biggest problems people make in risk […]
Have you ever believed in something in your business life or during project execution that you were sure would happen? You were so confident, the situation was so clear, that you didn’t give it any more thought and made decisions on this basis. And when something went wrong, you asked yourself, why didn’t we invest […]
Risk management is a central activity in project management, but is unfortunately often neglected. Projects fail because of risks that are discovered too late, ignored or simply not sought. Risk management is not complex but is hard work and the most important thing: it must be done with conviction. Software such as Excel or SharePoint […]
You have probably heard several times that you should be risk aware, but you may not have thought much about it. Risk awareness is a somewhat abstract term, but something that is essential in our daily lives, in business and in projects, so that we do not face problems or misfortunes. This article will show […]
Projects have always been a complex endeavor and have always to deal with the unpredictable, the surprising, and the unexpected. This was 200 years ago so, and it is still so. However, the complexity is increasing every year, especially when IT technologies are involved. In this environment, it’s harder to predict what will happen because […]
Companies that develop products often take considerable risks that can, for example, jeopardize the continued existence of the company. Developing innovative products in particular is a risky and uncertain process and many products fail, for example, due to feasibility or market acceptance. This uncertainty often leads companies to avoid taking risks—and if they do, they […]