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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.

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1 vote
2 answers
109 views

Time & Material project contract - how to handle blockers during project execution

Imagine you are a consulting company and you have T&M contract based project. You aligned with the customer to provide consultants to work on a 4days/week schedule. The project is facing an issue ...
0 votes
2 answers
52 views

Gantt Chart software for a monthly process with tasks/milestones based on business day of the month? [closed]

I am looking to create a Gantt chart for our Production process. This is a risk reporting process for a financial institution and it is run monthly. One key feature of most tasks and milestones is ...
-1 votes
2 answers
363 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 ...
5 votes
4 answers
12k views

How is Risk Management in Agile Development Different From Risk Management in Waterfall Model?

In a typical project lifecycle, as a manager you are expected to have a risk plan which (please correct me if I'm wrong) consists of identifying, assessing and prioritizing all potential risks of the ...
2 votes
1 answer
179 views

ISO Requirement for Risk Acceptance

ISO seems to suggest that there needs to be a risk initial/residual exposure threshold where, if exceeded, there needs to be evidence of "acceptance" by someone with approved authority. The ...
1 vote
2 answers
334 views

How do you calculate acceptable risk on your project?

I am trying to find some information on the following: how do I determine the acceptable risk (risk appetite) for my project, what is the usual practice/approach? Is it percentage of profit, for ...
4 votes
12 answers
43k 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?
1 vote
3 answers
528 views

How do we mitigate by reducing the impact of risk(Risk response planning)?

Risk mitigation is a strategy for reducing the probability or impact of risks. I understand by what reducing the probability of risk means. For eg-: Consider a risk of theft while working in an area ...
1 vote
1 answer
244 views

Risk triangular distribution: percentile sensitivity

When modelling risks, usually a triangular distribution based on three time estimates (optimistic, likehood and pessimistic time estimates - a, c, and b respectively) is used to evaluate the planning ...
1 vote
3 answers
1k 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 ...
0 votes
3 answers
150 views

Hired a mid level consultant who is producing junior level work. We're 2 weeks in. Should I recommend letting her go or giving her time to ramp up?

Things to consider: She's getting paid at a level that implies that she is a very experienced mid level consultant She doesn't ask questions, even though I very clearly make it known that I'm ...
1 vote
3 answers
457 views

Do I calculate the Earned Value with BAC or PV?

I'm a little confused on how to calculate the EV. There are two formulas that I found: EV = %completion x BAC EV = %completion x PV When do I use which formula?
0 votes
1 answer
149 views

What are the risks and mitigation strategy for SAAS solutions?

I am suggesting a software solution POS for a small retail store to manage his business operations effectively. I am just trying to identify the risks and its mitigation strategy for SAAS solutions. I ...
1 vote
2 answers
850 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. ...
13 votes
5 answers
5k views

Scrum teams and the risk of a member getting sick

Scrum suggests small teams as far as I'm aware. This means that we often have single frontend developer, single backend developer, single QA engineer, etc. Doesn't it negatively affect the project ...
6 votes
4 answers
1k views

How to formulate risks well for risk analysis?

If I have to formulate goals for a project there's the well established S.M.A.R.T. paradigm. It helps to have goals at the end, from which necessary actions can be easily deduced. It prevents from ...
-2 votes
2 answers
101 views

In Agile project management, do you keep everything in Jira or maintain some documents? [closed]

I'd like to know about agile project management practices - do you keep everything in Jira or do you create and maintain any external documents (Requirements, Project schedule, Definition of done, ...
0 votes
1 answer
109 views

How to identify risks in a given case study? [closed]

I am working on a case study which is like below : Economic inequality is a huge issue. A recent study found that the world's 80 wealthiest individuals own as much as the entire world's poorest 3.5 ...
1 vote
2 answers
173 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?
5 votes
3 answers
764 views

Dev went on vacation leaving his work unfinished. How to manage this without informing the customer?

I would like to discuss and hear some advice from you about a pretty common situation. We develop the functionality that has huge business value for the customer’s project and thus the customer is ...
3 votes
5 answers
886 views

Should a good project manager be a good risk manager and a good estimator as well?

I'm taking project management class. It is hard to understand the relationship between estimation, risk management, and project management. Could you explain it based on your experience? My lecturer ...
0 votes
1 answer
5k views

Good RAID Log examples & usage

I was hoping for any good examples of how anyone has effectively presented RAID logs (or the individual lists of Risks/Assumptions/Issues/Dependencies) in their projects. In particular for Agile/Scrum ...
0 votes
1 answer
77 views

Which are top three metrics one should look at as PM specially from IT industry perspective [closed]

I know its very subjective question, however in general I wanted to understand which are the top three metrics as PM, I should look at while working in a Software project
0 votes
1 answer
114 views

How do you agree with a client for a deliverable version (definition of done) on a big project

My company sells an ERP software in a very specific niche. The process is turnkey and every bit of data is entered for the client before launch. Since a lot of our customers have different needs, we ...
26 votes
7 answers
4k views

Risk Management: How do you overcome risk resistance?

We know that risk management touches every PM process, from planning through execution through closing. It is taught in the most basic of PM classes and, if you were to ask, most would likely ...
6 votes
4 answers
2k views

What could be my risk mitigation strategies if my client wants to contract UAT?

My client wants to squeeze UAT into 6 working days from originally planned 10 working days. This is because they want to go live because of an impending business reason. As a risk mitigation strategy ...
16 votes
10 answers
13k views

How to identify risks?

What risk identification methods you recommend to use? If a project manager needs to build a raw list of risks containing, say, 100 items, how would he/she do it? As I understand, brain storming is ...
3 votes
6 answers
2k views

How should we assess "Build vs. Buy" for an ERP System?

Background We are about to make a huge decision and change of ERP. The current solution is outdated and failing on us. The burning question is: Do we buy a solution like SAP, PeopleSoft, Oracle or do ...
4 votes
2 answers
106 views

I Need Help Quantifying Risk of Behavioral Variables

BLUF I need advice on how to capture cultural or behavioral risks in an organization (Cost, Duration, Scope) to a project in a fashion that can quantify and express those risks and mitigation options ...
3 votes
2 answers
60 views

Which risks to expect when managing different vendors on a client assignment?

My next role is of a Program Manager managing interdependencies between multiple projects. It involves daily program management until the program cycle ends. Each project is being delivered by a ...
5 votes
4 answers
527 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,...
8 votes
5 answers
2k 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)/...
14 votes
8 answers
2k 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 ...
2 votes
3 answers
146 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 ...
2 votes
4 answers
13k views

Modelling schedule uncertainty in Microsoft Project 2010/2013

Microsoft Project 2010 (and 2013) no longer contain PERT charts. With this in mind, what is the recommended way to model uncertainty in project time estimates? UPDATE: I only brought up PERT diagrams ...
14 votes
5 answers
3k 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
1 answer
5k 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
2 answers
193 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
4 answers
374 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
1 answer
92 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
2 answers
168 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
2 answers
132 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 ...
0 votes
3 answers
703 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 ...
2 votes
6 answers
1k 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?
3 votes
3 answers
448 views

How can we manage schedule risks brought into a project by 3rd party software?

Working in web-development, I face a common situation when clients want to use 3rd party software as a starting point of the project. That could be a CMS, an e-commerce site, or something else. ...
5 votes
6 answers
9k 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 votes
1 answer
313 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
4 answers
1k 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
3 answers
194 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?
19 votes
10 answers
4k views

How to manage employees leaving the company?

Some time ago, the company had to downsize due to difficulties, now things are going better, but employees are still leaving the company. There is no budget to increase the salary or benefits right ...