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Project Management

Identify and Analyze Risk in Project Management

Identify and Analyze Project Risk One of the most important steps when coming up with a plan for your next project is identifying and analyzing risks. Whether you’re new to project management or you want to become a better project manager, understanding how to accurately determine where your risks lie can help ensure you’ll meet your goals with fewer, if any, setbacks along the way.  We encourage to find out how your lack of risk knowledge could be hurting your projects. In our previous post, we covered the essential element, Creating a Work Breakdown Structure. A WBS is a graphical decomposition of project deliverables. It is the “family tree.” Now, it’s time to cover the important element of identifying and analyzing risks when you’re managing any project. What Are “Risks” in Project Management? What is a risk, exactly? Basically, it’s anything that might affect your project in either a positive…

Agile Risk Management

Agile Risk Management This article outlines a few practical tools that can be used to start improving risk management approaches. All three of these actions can deliver business value and when there is a shared framework for decision making projects are more successful. Some tools that can be used to help make better decisions around risk management on agile projects include; Risk Adjusted Backlog, Risk Profile Graph and Risk Retrospectives. Risk Adjusted Backlog Working with Product Owners or business representatives to add threat avoidance and mitigation work along with opportunity enablement work into the backlog.We need a way to insert risk avoidance & mitigation, and opportunity stories into the backlog. It is done by the product owner, but with consultation and guidance of the development team. By avoiding and reducing risks closer to their identification, the horizon of risk the project is exposed to shortens. By making changes earlier in the lifecycle,…

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