Category Archives for "Risk Management"

risk management knowledge area

Change your Project Risk Management Strategy

risk management strategy

What is your Project Risk Management Strategy? “Duh! We will deal with the problem when it comes. Is there any other Project Risk Management Strategy?” In my experience “deal with the problem when it comes” is the most frequently used Project Risk Management Strategy (also called Project Risk Response Strategy). Most Project Managers (and other […]

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4 Project Risk Response Strategies for Opportunities

risk management strategies

Do you use Project Risk Response Strategies to avail Opportunities? Let us be frank here. Most of us never think about Project Risk Response Strategies for Opportunities. We usually ignore the Opportunities and think only about threats. Many of you would vociferously disagree with me. Well, I am not talking about Life Opportunities. In the […]

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A project is scheduled to FAIL

A project is scheduled to FAIL from start. This is a very strong statement albeit true. I have noticed this phenomenon many times during my experience. Let me explain. Project Managers rarely understand good scheduling concepts/techniques. Even if they understand, good concepts/techniques are rarely used while developing project schedule. What are good scheduling concepts/techniques? These […]

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Which “Type of Contract” is More Risky?

Types of Contracts and Risk A Question You are working for a Defense Contractor. Your company is bidding for a Government’s secret project called Project “Hush-Hush”. The Government has decided to outsource this project as a Fixed Price Contract. Who has more Risk for this Project? Defense Contractor Government All Projects are risky. Both Defense […]

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5 Steps That Define PMBOK Guide’s Project Risk Management Process

Project Risk Management

What is PMBOK Guide’s Project Risk Management Process? Nothing | Zilch | Nada | Zero That’s impossible! PMBOK Guide contains globally recognized Standard for Project Management. Surely the Guide would define a Project Risk Management Process. Let me state something that belies common wisdom. PMBOK Guide does not define a Project Risk Management Process. Before […]

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8 ways to meet budget in Fixed Price Projects

I write 2 blogs. One is the current blog on project management while the other is blog on completely unrelated subject – Cricket: http://fifth-umpire.blogspot.com/ Why am I mentioning my Cricket blog here? The word ‘Fix‘ is a dreaded word both in cricket and project management. Match fixing is a bane in cricket. One always gets […]

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