According to recent statistics by the Project Management Institute (PMI), nearly 70% of projects fail to meet their initial goals, deadlines, or budgets. In short, they fail to meet their objectives. This is not a new problem. Countless articles over the years have reached similar conclusions. Although some of these articles suggest reasons, they often miss...
Artificial Intelligence (AI) is a rapidly developing fact of life that will affect many aspects of a business. This article considers just one key aspect – risk management and asks is AI (as some have suggested) a panacea for risk management? Risk management is the ‘effect of uncertainty on objectives’. This ISO 31000 definition is at...
Is your risk management adding value? How do you know? Could it add more value? Risk Management ‘expertise’ has grown significantly since the release of the first standard in 1996. Although usually well-intentioned many expert’s ideas do not add value to a business. Are you a: Risk Manager struggling to get managers at all levels to...
Your risk process is not as efficient as it could be. (This video will enable you to measure and assess this statement for yourself.) That means users time is being wasted. Processes and their improvement are an in house responsibility. Challenge yourself and get the best result for your business. If you are using spreadsheets...
Objectives and analysis when working together really help with a consistent approach to risk management. They enable the same process to be adopted at any management level which increases efficiency and improves effectiveness.
A key project function is cost management. A major challenge is how much to allow for contingency (the cost of carrying risks). This video explains how any project manager can easily manage this critical aspect of cost management.
There are three areas of uncertain costs in all projects. Managing cost variables may now be easily modelled by any project team rather than using expensive consultants. This video outlines how.
Risk management has been an increasing focus for many businesses over recent years. This has in turn increased the number of "experts" which (although hopefully well intentioned) has resulted in new ideas. Increasing requirements detract from efficiency and good risk management. This video addresses problems associated with some of these "non-essential" items.
How often have you attended a risk workshop that was a waste of time? What about one you have facilitated - how did participants view it? This presentation gives a few pointers to making workshops more efficient, effective and hence more engaging.
Do you have a consistent organisation wide approach to identifying risks? How do you get to the data you need? A Risk Breakdown Structure (RBS) can really help with these two important risk management processes.
