PS: Just spotted an 'oops'! Loads of editing and review iterations. But still one too few! Oops. Sorry! Nothing incorrect, so should not diminish your enjoyment. Just a tiny lack of attention to detail.
The way you explain complex concepts in such a simple and straightforward manner is truly remarkable. I've been struggling to understand this topic, but your explanation made it crystal clear. Thanks very much!!
My projects have always included an aspect of product development within a fixed budget and schedule project. Most of the risk in the project is associated with doing product development whilst committing to fixed timescales and price. I run risk management at the project level but then when we start the development stage I include an agile approach where a small team iterates on the development. The high level risk is identified at the start of the project and then the detailed risks for the development are evaluated by the smaller development teams. Risks are fluid and evaluated weekly with a more indepth analysis on a monthly basis. So as you said, it's about using the right tools etc at the right times. Risk management is one of the most important aspects of a project (a project is risky by its very nature) and it is important to instil a continuous focus on it. New risks can be "discovered" at any stage and by anybody.
Can you do a video discussing which companies use Agile methodology and which companies use PRINCE2 along with how why they spend time and money adapting a methodology to their environment? Would be helpful for my PM class I am taking! Love your explanations as they are helpful in understanding these types of things.
Great suggestion! But it sounds a little specific. The principle of how organizations select approaches and customize them to their own needs is a great idea, so I'll add it to my backlog. It also sounds a little like you're asking me to do your assignment! Unfortunately, you'll need to work on it alone - I schedule 3-6 months ahead (predictive PM!). However, you may like this: Tailoring: How to Determine Appropriate Project Methodology, Methods, and Practices onlinepmcourses.com/tailoring-how-to-determine-appropriate-project-methodology-methods-and-practices/
Tanmoy, I am not sure I fully understand what you are asking. But, on the face of it, if an impact is a 'primary' impact, you need to consider it. Indeed, I suggest you also need to consider secondary impacts to assess their severity, and maybe, look at some tertiary ones too. But, I wonder if you have a specific meaning in mind for 'primary impacts'. It's not a specific term I know. You may also like to look at: - What is a Business Continuity Plan? ua-cam.com/video/G9JANBmTdqA/v-deo.html - What is a Disaster Recovery Plan? And How to Make one. ua-cam.com/video/c2WRVclyFcg/v-deo.html
What are the similarities and differences between predictive and agile risk management? Let's find out.
PS: Just spotted an 'oops'! Loads of editing and review iterations. But still one too few! Oops. Sorry! Nothing incorrect, so should not diminish your enjoyment. Just a tiny lack of attention to detail.
The way you explain complex concepts in such a simple and straightforward manner is truly remarkable. I've been struggling to understand this topic, but your explanation made it crystal clear. Thanks very much!!
You're very welcome! I am glad if I have helped you.
Always briliant. :)
Thank you. Always supportive.
My projects have always included an aspect of product development within a fixed budget and schedule project. Most of the risk in the project is associated with doing product development whilst committing to fixed timescales and price.
I run risk management at the project level but then when we start the development stage I include an agile approach where a small team iterates on the development. The high level risk is identified at the start of the project and then the detailed risks for the development are evaluated by the smaller development teams. Risks are fluid and evaluated weekly with a more indepth analysis on a monthly basis.
So as you said, it's about using the right tools etc at the right times. Risk management is one of the most important aspects of a project (a project is risky by its very nature) and it is important to instil a continuous focus on it. New risks can be "discovered" at any stage and by anybody.
Thank you very much, Michael. A very helpful insight into your process, which makes a lot of sense to me.
Thank you
You're welcome
Can you do a video discussing which companies use Agile methodology and which companies use PRINCE2 along with how why they spend time and money adapting a methodology to their environment? Would be helpful for my PM class I am taking! Love your explanations as they are helpful in understanding these types of things.
Great suggestion! But it sounds a little specific. The principle of how organizations select approaches and customize them to their own needs is a great idea, so I'll add it to my backlog.
It also sounds a little like you're asking me to do your assignment! Unfortunately, you'll need to work on it alone - I schedule 3-6 months ahead (predictive PM!). However, you may like this: Tailoring: How to Determine Appropriate Project Methodology, Methods, and Practices onlinepmcourses.com/tailoring-how-to-determine-appropriate-project-methodology-methods-and-practices/
How many types of primary impacts resulting from a business interruption or disruption event do we consider?
Tanmoy, I am not sure I fully understand what you are asking.
But, on the face of it, if an impact is a 'primary' impact, you need to consider it. Indeed, I suggest you also need to consider secondary impacts to assess their severity, and maybe, look at some tertiary ones too.
But, I wonder if you have a specific meaning in mind for 'primary impacts'. It's not a specific term I know.
You may also like to look at:
- What is a Business Continuity Plan? ua-cam.com/video/G9JANBmTdqA/v-deo.html
- What is a Disaster Recovery Plan? And How to Make one. ua-cam.com/video/c2WRVclyFcg/v-deo.html