Risk Management is How Adults Manage Projects
If your project management method does not start and end with Risk Management, you're whistling in the dark, hoping things will work out.
- Hope is not a strategy - hoping to get things done on time, on budget, on specification is not the same as having a plan to get things done. Having the plan does not mean it will happen. But not having a plan assures is will not happen
- All point estimates are likely wrong - cost and durations are random numbers drawn from an underlying probability distribution
- Follow a risk management processes - the DoD process is probably the best. There are others.
- The connection between cost, schedule and technical performance is inseparable - there is a lot of noise about "breaking the Iron Triangle" of project management. It is just that "noise." These three independent variables are inseparable. These re three of the irreducible elements of project management
- Communicating all this information is not an option - having a risk management plan (RMP), a risk communication plan (RCP) and all the other artifacts of risk management is important. But most important is showing the risk, their mitigations and retirement in the schedule
In the end is the risk mitigations or risk retirements are not in the schedule, with dependencies, resources, and funding - then when the risk become an issue - you will have already failed.
The Best Risk Management Sites on the Web
