Your Guide to Project Management Best Practices

Tagged: risk

project risk analysis

PM Framework

Risk Analysis in Project Management

Perhaps, everything within a project involves a risk of some kind: changes in working environment, an increase of project costs, procurement issues, postponed delivery dates, etc. Risk analysis within the project initiation phase allows assessing all possible risks and making a decision on what actions can be taken to minimize disruptions to the statements of the initiation phase.Project risk analysis is the efficient way to ensure that strategies used to control project risks are cost-effective

threat and opportunities in risk management

PM Tips & Ideas

Defining Threats and Taking Opportunities by Risk Management Strategy

In the literature on PM (project management), the term “risk management strategy” refers to the scope and direction of actions for project practitioners to embrace the likelihood of both positive and negative consequences that can potentially happen. Such a strategy determines what configuration and implementation of available resources are best to use within a challenging business environment in order to ensure successful accomplishment of project goals and adherence to stakeholder expectations…

the duties of a risk management team

PM Tips & Ideas

Top 5 Responsibilities of a Risk Management Team (Part I)

A risk management team (workgroup) is a separate and often independent unit within the project management team headed by the risk manager or the chief risk officer. It helps place a value on the project’s activities (such as procuring, communicating, controlling quality, staffing etc.), works out strategies to mitigate identified risks, applies risk management methodologies and risk analysis tools, and integrates insurance policies of treating prioritized threats with the project management team. The primary responsibility of the workgroup is to ensure that the project is provided with a complete risk management information system that ultimately determines how to control and oversee the project’s effectiveness and fulfillment. The team also approves risk management policies and defines their framework.

How to Fight Incorrect Project Management - Mistakes

How-to Guides

How to Fight Incorrect Project Management and Get Back on Track

Have you ever faced the situation when your project was going swimmingly well but then suddenly, for some unknown reasons, you have found yourself out of budget, behind the schedule, and with no idea of what to do next? Such a situation is caused by incorrect project management, which means you have made some critical mistakes when initiating, planning and/or executing project activities. Here’s a 6-step guide that will tell you how to fight incorrect project management. The guide will show you what to do when your project goes wrong.