SRA (Schedule Risk Analysis) – Page 3

Assumptions and Risks are interrelated, so manage both diligently.

There is absolutely nothing wrong with making an assumption that fundamentally reduces project risk… provided that all the project stakeholders are aware of it, and in agreement with it. Undocumented or ambiguous assumptions can jeopardize an otherwise good project plan. One of the most frustrating things to deal with as a key project stakeholder is… Continue reading Assumptions and Risks are interrelated, so manage both diligently.

Parkinson’s Law versus Project Risk Management and “doing more with less”.

Parkinson’s Law 2 states that “Work expands so as to fill the time available for its completion.” So what does this imply? That we are either going to meet our commitments, are miss them – we are not likely to do better than the targets we set. This is obviously counter to “doing more with… Continue reading Parkinson’s Law versus Project Risk Management and “doing more with less”.

Requirements Control is a key to effective project risk management.

Some schedules represent credible tasks logically and can be used for tracking progress, and some are art projects that may be pleasing to the eye but are primarily worthless. Tired of dealing with vendors and programs trying to manage complex and expensive efforts using art projects, the US Defense Contract Management Agency (DCMA) developed and… Continue reading Requirements Control is a key to effective project risk management.

Executives comprehend Percentage Confidence better than the Risk Matrix.

What do executives really think of the risk matrix data? The data can be extremely useful if generated properly, but what is its real purpose? Most believe that the executive management team can discern overall project risk confidence from it. But that is not what the tool provides. It provides information regarding individual risks, not… Continue reading Executives comprehend Percentage Confidence better than the Risk Matrix.

No Risks should remain in the “Red Zone” of the Risk Matrix.

The risk matrix has become pretty much a staple within the project risk management family of tools and techniques, especially for the more complex and highly scrutinized projects. It portrays a relatively easy-to-comprehend visual of individual project risk status. One example of a risk matrix can be found on page 84 of my book, “Project… Continue reading No Risks should remain in the “Red Zone” of the Risk Matrix.

The significance of utilizing “Best Practices” relative to project risk management.

There are many potential causes of unsuccessful project execution which can plague a project team. If you know what they are and implement preventive measures to avoid these pit-falls you will obviously improve your team’s chances of success. What are these concerns? It might be considered a bit too bold to say you have identified… Continue reading The significance of utilizing “Best Practices” relative to project risk management.

Risk management can pro-actively improve project team performance.

There are many potential causes of unsuccessful project execution which can plague a project team. If you know what they are and implement preventive measures to avoid these pit-falls you will obviously improve your team’s chances of success. What are these concerns? It might be considered a bit too bold to say you have identified… Continue reading Risk management can pro-actively improve project team performance.

Business Success via Project Risk Management: Introduction

The objective of this series of posts is to provide insights into the breadth of Holistic Project Risk Management, especially as it relates to satisfying an organization’s objective to “Do More with Less” – which, if done well will improve the organization’s business success. The plan is to provide 2 posts per week over the… Continue reading Business Success via Project Risk Management: Introduction