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A classic example would be the project my company executed before the formal PM processes were implemented. The project’s core requirement was to generate reporting system for Medical Underwriting process. There was no Risk Planning for sure, otherwise the company would not have gone through two major design changes and the most worse cases of…
Suppose you called a meeting with your project team, various experts and the stakeholders, to start the risk planning process. One of the senior people asks, “Why are we doing this, anyway? It’s your job to deliver this project — are you saying that the project is already in danger of going down the tubes?”…
EMV is a statistical concept (with a defined formula) which calculates average outcome when there is uncertainty in the final outcome (more than one possible outcome), where as Decision Tree model is an enabling analysis tool to represent the available decision choices as decision tree with their monetary value and probability of occurrence. So I…
Project size and Project Risk: Another interesting topic in Project Management world. From my experience with software development, I think that project risk increases with the size of the project (I guess the size of the product would be directly proportional to the project size). Here is the reason – Consider that software product consists…
Interesting question as I wonder this situation (Risk of failure due to interpersonal issues) is often less addressed anywhere. I shall address the situation using formal approach. Definition of Risk and symptoms: I would consider that the Risk (Project failure due to interpersonal issues within the team or between the team and other stakeholders) is already…