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Questions tagged [risk-management]

This tag is about documenting risk, handling risk, risk estimations, cross-team project risk, and any other risk that may affect the outcome of a project.

2
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3answers
60 views

importance of long list of risks

Can anybody explain the importance of having long list of risks in managing the project? i know we should cover maximum of all possible one but what really significant importance to have a long list ...
12
votes
5answers
2k views

Product Owner is requesting a “confidence check” for reaching the MVP - How to in a Scrum project?

We're in a quite complex software engineering project with lots of unknowns due to new technologies involved that the Team has never applied nor have comparable experience. Due to these risks the ...
0
votes
1answer
656 views

Risk register vs risk report

Risk documents normally are documents in possession of the Project Manager with the discretion to show only to Project Team and Sponsor. Risk register is a document that contains all the work ...
2
votes
2answers
52 views

When should I raise risk with stakeholder [closed]

Should I raise risks immediately when I see one or should I try to resolve the risk first and then raise it. How long should I try before raising one.
1
vote
4answers
100 views

How is a countermeasure influencing the total risk score?

I'm just setting up a risk management for a project, and I have to admit, that I'm not used to it. That's my table so far. ----------------------------------------------------------------------------...
2
votes
1answer
69 views

How is consensus and accountability achieved in large software development projects?

I'm studying how distributed software is managed (Linux, Wikipedia etc) and am trying to figure out if there is any pattern for consensus and accountability. Ideally I could visualize the inputs and ...
2
votes
2answers
147 views

How to explain to management that taking over an external project is a big risk?

Management thinks that it would be lucrative to take over a fairly complex solution from a startup founder. Apparently the client has fired the tech company that had built it due to "poor quality". It ...
3
votes
2answers
60 views

Distributed Risk Register and Facilitation of Risk-Based / -Aware Thinking

Over here, it was aksed how to overcome reticence to use RAID logs (with A referring to actions, not assumptions). The general approach, already suggested by the OP, would be to rid the (in this case ...
-1
votes
2answers
131 views

How do I facilitate a project risk assessment?

Let's say I wanted to asses the risks in a project like the one in this link: https://github.com/tanay-bits/baxter_skeletonteleop, where I am tele-operating a robot using a vision sensor. How can I ...
9
votes
5answers
660 views

How to deal with constantly (~daily) changing requirements?

I see a number of similar links, but none seem to have a solution, mostly "they shouldn't be doing that"'s. I agree, but please, read on: Scenario: 800K pages of documents, narrative(e.g. emails)/...
0
votes
3answers
263 views

Do you show your RAID log to stakeholders?

So I have started documented all risk related issues in a RAID log. I am showing my stakeholder it weekly, so that he is aware of all product related risks, but not sure if there is much value in ...
-1
votes
1answer
122 views

RAID logs - What is the best way to organise them?

First time using RAID logs as part of project delivery. I have found a template where Risks is separate from Issues done in Excel. I am using it the following way: 1) RISKS - I specify all potential ...
3
votes
4answers
398 views

Development buffers and risk factors

How do you plan on risks when working on the project detailed plan? I assume you add to the plan vacation days for each resource (even though they may not have requested leave at this point), you plan ...
0
votes
3answers
126 views

How to track and manage project progress & opportunities?

I am trying to manage project progress; what is the best way to track and manage project progress? As the project progresses, how does one recognize, anticipate and track alternative possibilities?
-1
votes
4answers
103 views

Is it normal to find managing remote teams/subcontractors harder?

Typical problems I have found that there is: a delay in communication, even after using project planning tools. More delays. Remote worker not having the self discipline to work structured hours and ...
0
votes
2answers
102 views

Are retrospectives and daily stand ups replacement of risk management

Currently we are following a lot of the Scrum routines like stand ups, refinements, planning 1/2, demo, retro... The past few months we were heading downwards showing poor performance and delivering ...
0
votes
2answers
434 views

Is lack of knowledge/experience in the dev team a risk according to the risk management theory

Our team has 1 BA, 3 devs and 1 QA. We are trying to follow SCRUM as much as possible and since recently the term Risk management was not a part of our dictionary. However the past few months our ...
2
votes
6answers
657 views

How to minimize scope creep?

Scope creep can easily transform a good project into a distressed one. What are the methods for minimizing continuous expansion of project requirements?
1
vote
1answer
101 views

Finding out whether a decision made has been risk-taking or risk-averse

I want to do an empirical study on risk management by translation trainees for my MA thesis. Translation is an act full of decision-makings for rendering risky parts of the text. I want to interpret ...
1
vote
2answers
64 views

What risk analysis model shall I use if I know the areas (sources) of risk?

I know the areas of risk in a group of companies based on a Risk Breakdown System. With what model shall I analyze them afterwards? Is FMEA good for this purpose? If yes, how should I apply it?
2
votes
1answer
24 views

How exactly one can find out the influence of each risk component in Fault Tree Model? Is that possible at all?

How exactly one can find out the influence of each risk component in Fault Tree Model? Is that possible at all with model?
1
vote
1answer
407 views

FTA (Fault Tree Analysis) or FMEA (Failure mode and effects analysis): how they are different from each other?

I have decided to work on risk analysis for my MA thesis, but I am stuck with choosing the theoretical framework for that. I am not studying MBA or other Management fields, and that makes my job hard. ...
0
votes
3answers
120 views

Having trouble managing a sub contractor

I am project managing on an on going bases an e-commerce site for a client. I have only one resource working on it, a sub contractor due to a lack of resources. He is working remotely. I am having ...
1
vote
1answer
69 views

Identify risks from 100 case studies [closed]

I want to identify risks from 100 case studies of past construction projects. What the most relevant documents that I need to consider that would save my time. Thank you in advance, Mustafa
2
votes
2answers
705 views

Who is responsible for risk management in Agile-style deliveries?

I have a lot of experience of waterfall-style deliveries (or more accurately, incremental waterfall since I don't know of anyone who still does actual rigid waterfall any more), but none whatsoever in ...
2
votes
3answers
75 views

What qualifies as a trackable risk?

When creating a Risk Analysis document, what qualifies as a reasonable risk? As a rule of thumb we expect 5 risks to be tracked. Is it reasonable to include risks such as the building burning down or ...
11
votes
8answers
650 views

How to motivate my team members to start documenting their work

I just started a new job as a technical project manager. It's more or less my first experience, as I have just run teams of two students before, and now I am managing a project of 10 engineers, some ...
1
vote
2answers
61 views

Using probability to assess issues

In risk management within projects, probability is used as a way to understand how likely risks are to happen in the future. This is obviously a well-established area. Presumably there is nothing ...
0
votes
6answers
126 views

Product launch failure [closed]

Background I'm currently working on a product (external facing) and we are on the verge of launch of the product. I want to gear myself up with facing the worst situations since this is the first ...
4
votes
4answers
164 views

Project constantly running into problems, so how does a PM manage the consistent budget impacts?

With a certain project, I reconcile on a weekly basis to determine its performance, i.e. if estimates are being adhered to or not. Issue: Every week, the team faces a new issue that wasn't accounted ...
0
votes
3answers
87 views

What is the point of a risk with no impact?

Forgive me if this doesn't belong here, but I thought this more appropriate for PM than for Programmers or SO. We use risk assessments where I work as part of the software development life-cycle. A ...
1
vote
6answers
124 views

How can we prevent project professionals from sabotaging the project schedule?

I work with an organization that hires professionals with temporary contracts that last for the length of the particular projects they are working on. At the moment, these contracts are usually just a ...
4
votes
3answers
324 views

Is a “business as usual” issue a project issue?

There is a major replacement/upgrade project in flight. The project touches on a number of existing systems that are not being upgraded some of which have business as usual issues e.g. lack of support,...
1
vote
3answers
869 views

What is risk mitigation?

I have to report risks and fill out the field "mitigation". What does risk mitigation normally mean: reducing the likelyhood/probability or the impact?
3
votes
1answer
128 views

Is the lack of requirements such as functional and non-functional a risk?

If a project has forsaken to undertake a cycle of eliciting and documenting requirements, what level of risk does it introduce, how is this addressed and whom does it sit with?
3
votes
2answers
76 views

At what point do assumptions become risk?

In most documents there is a section on assumptions e.g. We assume that the network is well within the realms of supporting this solution. At what point does it become a risk? Where does the risk ...
5
votes
1answer
138 views

If risks have been identified in a design document, how are these addressed?

If a design document e.g. software, IT infrastructure, etc details risks, how are these generally addressed as part of the project? Do these risks also reside with the project? For example, i have a ...
4
votes
3answers
1k views

Is an operational risk considered a project risk?

Assuming there is an IT operational risk such as the lack of backups during a delivery of a solution would it be considered a project risk and if so how would you classify the risks?
1
vote
2answers
416 views

When does a PM create a RAID log

Got a few questions on RAID (Risks, Assumptions, Issues, Dependencies) and RISK registers. In what phase of the project does a PM create a RAID log? I am assuming it is during the planning phase. is ...
3
votes
5answers
170 views

How to set and mantain a risk checklist for a set of software development projects in a medium-sized company?

Considering risk identification as an important part of project planning, and if working in an environment where projects are quite similar, having a checklist with a set of standard risks to be ...
6
votes
2answers
84 views

Method for assessing risk in a release

I have been tasked to develop a metrics program specifically designed to look at how risky a release is from a code base volatility perspective. The director requesting this information is working ...
6
votes
6answers
8k views

Do project managers use RAID Logs?

Project management theorists discuss the importance of the RAID log (Risks, Assumptions, Issues, Dependencies). I have found in software development there is commonly the Issues log (which is ...
1
vote
2answers
86 views

Cumulative Flow

This project--developing web-based modules--is currently in its testing phase. On a daily basis, the team captures testing results and progress using a cumulative flow diagram. The testing phase is ...
1
vote
2answers
2k views

(Calculation EMV) What is the business purpose of product value calculated by multiplying the probability of an event by the cost of the impact?

Lets say you are going on a geological survey up on a mountain in the rural areas. ( Page 576, Head First PMP 3rd Edition, Jennifer Greene, PMP & Andrew Stellman, PMP ) Expected Monetary Value (...
1
vote
10answers
15k views

Risk and Opportunity definitions

If the definition of a risk is: Anything that might affect a project achieving its goals then what is the definition of an opportunity?
2
votes
4answers
255 views

Risk management concepts definitions

I am trying to define some concepts of risk management and I am having some trouble. I am using definitions from ISO 73:2009 and from "A. Avizienis, J-C Laprie, B. Randell, and Landwehr. Basic ...
-2
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1answer
249 views

Important Concepts In Project Management [closed]

What are the most important concepts that should be added (as notes on ms project)? for example: Defining the project scope, risk management .. what others?
0
votes
1answer
102 views

What does a “Contingency” Plan involve? [closed]

For example, if lack of resource commitment is identified as an issue, then what would the contingency plan look like? does it have a specific structure? what key factors must I consider when ...
1
vote
1answer
964 views

Assessing Risks in Project Management (Microsoft Project) [closed]

I have the following queries regarding Risk Management: Upon identifying a risk, a contingency plan is usually developed, what does this involve? An example would be great. What effects would risks ...
3
votes
3answers
104 views

How should you handle a risk when the only mitigation or contingency you can come up with is not on your hands?

I had a risk for a software project that had to do with something I could not control. That was (really long delays on delivery of the hardware). I work on a big company where IT has it's own budget ...