Category: Risk Management


Project Management Templates

Templates are designed to give us direction, confidence, quality, consistency and save us time.  They are checklists. We simply fill in the blanks. Importantly, templates are not straitjackets, but to be useful their format needs to be controlled, otherwise continual local amendments will soon diminish their value.  The “owner” of the templates who safeguards their integrity and to whom suggested amendments are made for their improvement, could be the PMO if one is established, otherwise a functional manager might get the job – not necessarily the IT manager.

Some common templates are here for your use, although they may need some modification to better suit your particular needs.


“Do you feel lucky? Well, do ya, punk?”

When I first noticed Richard Wiseman’s rather quirky book “The Luck Factor” I immediately thought of good old Inspector Harry Callahan (Clint Eastwood) – hence this article’s heading. Wiseman maintains that luck can be predicted and controlled and claims that his publication is the consequence of ten years’ scientific research rather than mere anecdotal trivia. I first encountered Wiseman’s views when I saw his infamous “gorilla basketball” video on YouTube. Yet, now that we accept opportunity as a dimension of project risk, his ideas on luck may have some relevance for us project managers.

Certainly when projects go wrong we are inclined to react “Why my project?” and we are usually less inclined to question things when all goes right. However, Wiseman has researched the “go right” option and suggests that the following strategies could turn our projects into luck magnets:

• … Read More »


Managing Project Risk

Risk management is one of today’s hottest topics. Most industries are now highly competitive and the project management mantra is faster, cheaper, better. With these pressures comes risk.

Good risk management or poor risk management can mean the difference between project success and project failure. Good risk management allows us to respond proactively to risk and also allows us to react better to those risks that do occur – issues.

Experience has shown that risk management must be of critical concern to all project managers, as unmanaged or unmitigated risks are a primary cause of project failure. Unfortunately, many managers and project managers believe risk management to be too difficult, too time consuming, or even too complicated to perform. However, such concerns are unfounded and there is no doubt that successful risk management will greatly add to the probability of project success.

The … Read More »



Blog

My latest thoughts on Project Management and life.

Monte Carlo Simulation

The Project Management Body of Knowledge (PMBOK Edition 6) advocates the use of Monte Carlo simulation for performing quantitative risk analysis.

In the project management...

Time Management

Among other changes, the Project Management Institute in their latest Project Management Body of Knowledge (PMBOK Edition 6) has sensibly renamed the “Time Management”...

Quitting our Project – Prematurely!

“You’ve got to know when to hold ‘em

Know when to fold ‘em


Know when to walk away


And...