PLM (Project Lifecycle Management) - RTConfidence

What is the Limit to Project Risk Absorption? (Part 1)

Part 1 of 2: Individual Task Risk Tolerance (Part 2 of 2 is on Overall Project Risk Limits)! I believe that almost any Project Plan can be “balanced” if you ignore the Risks. Think about it – you can balance almost any Project’s Quality, Scope, Schedule, Resources and Costs if you absorb an unlimited amount… Continue reading What is the Limit to Project Risk Absorption? (Part 1)

What is the Limit to Project Risk Absorption? (Part 2)

Part 2 of 2: Overall Project Risk Limits (Part 1 of 2 is on Individual Task Risk Tolerance)! As mentioned in my original post (Part 1, regarding Individual Task Risks), I believe that almost any Project Plan can be “balanced” if you ignore the Risks. But most high-risk plans would not make sense if team… Continue reading What is the Limit to Project Risk Absorption? (Part 2)

Enable Success in Your Projects by Embracing Project Risk Management!

Participants in this session will learn how to identify, assess, and manage individual (i.e., task-level) and overall project risks then determine overall project risks. We will review relevant Tools & Techniques and provide examples of exercises. The primary learning objectives are: Knowing how to properly Plan, Identity, Assess, Respond, and Control individual task risks Being… Continue reading Enable Success in Your Projects by Embracing Project Risk Management!

Why Supplier Management is so important to project risk management.

Project scope performed by suppliers can very likely be the riskiest activity on the project. There is a good chance that if your organization conducts very complex, risky development projects which require a multitude of technical subject matter expertise, some key aspect of the projects’ scope will need to be out-sourced. There is a tendency… Continue reading Why Supplier Management is so important to project risk management.

Why Good Communication is so important to project risk management.

There is a very good reason why PMs need to be good communicators – communication is vital to project success, especially on the more complex projects where team performance is highly scrutinized. Previous postings discussed some of the more critical communication items already – Priorities, Assumptions, Estimating and Planning, Change Management, and Risk Management. To… Continue reading Why Good Communication is so important to project risk management.

Asking the right questions.

I do not believe that good PMs should know everything. They should be experts in leading projects, and may also be experts in certain technical subject matter categories, but not in every technical subject matter category that the project team encounters difficulties in. Matrix organizations have evolved in part to take advantage of subject matter… Continue reading Asking the right questions.

Priorities must be well understood.

Project plans should accurately comprehend project priorities, and these priorities should be central to any re-planning activities necessary after the project is kicked off. The most important priorities are those associated with determining project success; i.e., key product technical/quality requirements, delivery schedules, and budgets. Delineating the priority levels between these key project objectives enables the… Continue reading Priorities must be well understood.