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Business, Technical, Systems, Risk, and Project Management. Connecting the 5 Principles and 5 Practices of Performance-Based Project Management ® To Increase the Probability of Project Success. Building a Credible PerformanceMeasurement Baseline. Measures of Product Value is Exchange for Its Cost. Risk Management.
Research clearly shows the root causes of most software projects cost and schedule overruns and technical shortfalls comes from poor risk management. Now To Risk Management. Risk is the effect of uncertainty of objectives. ISO 31000:2009, ISO 17666:2016, and ISO 11231:2010 Risk is Uncertainty that Matters.
More than 90% of organizations perform some type of project postmortem or closeout retrospective. [9]. 64% of organizations say they frequently conduct risk management. [6]. How Project Success is Measured: 20% — Satisfied stakeholders. Managing small, low-risk projects. Managing medium-size, moderate-risk projects.
Don't toss out the notion that reducing risk and uncertanty and all other performancemeasures doesn't follow the plan. . Thesis, University of Southern California, August 2012. Thesis, University of Southern California, August 2012. Wallshein, Ph.D.
The Cone of Uncertainty as a Technical PerformanceMeasure. Uncertainty creates Risk. Risk management requires active reduction of risk. Active reduction requires we have a desired reduction goal, perform the work, and measure progress toward the rduction goal. Measure of Effectiveness.
We're writing two chapters in an upcoming Project Management Book, with a working title, The Gower Handbook of Project Performance for Agile, Waterfall and Everything in Between , edited by Mark Phillips. One chapter on the Principles of Risk Management and the second chapter on the Practices of Risk Management.
This is an immutable principle that impacts planning, execution, performancemeasures, decision making, risk, budgeting, and overall business and technical management of the project and the business funding the project no matter the domain, context, technology or any methods. We need a formal risk management process.
In a recent exchange in social media, it was clear the notion of risk and the sources of risk, the consequences or risks and managing in the presence of risk was in very unclear, when it was conjectured , we can simply slice the work into small bits and REDUCE risk. . This is good, but it doesn't reduce risk.
In ISO 15288 this is the role of the Risk Management Processes. A second Critical Success Factor is the ability to predict what will happen in the future given the model of the project's activities and risks and the alternative designed as well as emerging designs and external processes. . This is the desired outcomes model.
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