There are four different techniques to manage identified risks. Some try to prevent them from occurring; others deal with the consequences if they do occur. Too few people realize that they have this many tools at their disposal. As a result they do not manage risk as effectively as they would like…
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It is very easy to get so caught up in analysis paralysis that you never get around to actually responding to your identified risks. Estimating them instead provides a quick, low-cost way to figure out how big each of your risks are relative to each other. Risk estimation is easy when you remember that...
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To actively manage risk across your enterprise, you will need develop an organization-wide consistent method to seeking out and identify risk. This requires two critical steps: 1) develop a clear definition of risk enterprise-wide and 2) teach your staff to seek out and plan for all types of risk: positive, negative, internal and external....
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Before any organization can begin to actively manage risk, it must first change its culture to one that openly and freely discusses risk at all levels. This is not easy. It requires commitments from management and staff at all levels. However, it will pay off in many ways: higher trust, increased respect and better...
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Today is the first day of 2010. This year, as we exit a global recession our hopes for success are much larger than before—while our margins for success are tighter than they have been for many years. Use of Active Risk Management (ARM) can be vital helping us navigate these challenges…
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Setting up metrics to manage and track a small project effectively is easy. Doing this for a large program or portfolio initially looks harder. However, it becomes easy once realize a program is simply a series of aggregated projects all working together to achieve a single objective. Once you do this, creating and using...
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I have heard metrics that indicate that anywhere from 50% to 75% of all projects and programs are late or fail to meet their business objectives. However, I repeatedly see Program Dashboards that indicate that everything is “Green.” They key to avoiding this is picking Dashboard Metrics that create incentives for forward-looking behaviors that...
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We are at the time of the year when most of us are both measuring the success (or failure) of our 2009 portfolio and finalizing our plans for 2010. A key tool I have used across several industries to manage (business and technological) success is the Program Dashboard. This blog series will share the...
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