The Data-Driven Approach to Project Risk Management

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Tim Martin

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MicroAgility Blog - The Data-Driven Approach to Project Risk Management

The data-driven approach to project risk should be:
  1. Collecting better and more targeted data and information
  2. Developing a more accurate risk ranking system
  3. Establishing a stronger understanding of project risks
  4. Developing more relevant metrics, rather than using conventional metrics
  5. Implementing risk management strategies and assigning accountabilities
  6. Enhancing internal communications and responses to unknown risks
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VirtualGlobalPhone

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Tim Martin , any amount of Coaches in a box or should to shouldn't is all good to read in practical not even 1% of what you pointed will have control on.

Is it not ?

Just a thought...
 

Edvin

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...in practical not even 1% of what you pointed will have control on.

Is it not ?

Just a thought...
Tim's suggestion are industry and company size specific. For example, many mature construction companies exercise almost all points suggested. Their risk mitigation utilize past data from previous development projects to account for weather conditions, materials acquisition lag time, talent pool and turnover, etc.

Software industry has moved towards Agile development (with short sprints) because the waterfall model, though useful in automotive industry, has issues when scopes change. This would be analogous to building architect revising his drawing (changing walls, electrical and plumbing locations, etc) after the building construction has commenced.

I'm definitely data-driven advocate and have even tried to utilize Project Management (PM) practices for my own endeavor in the past; but, I found PM to be administrative overhead for small projects, which leads to having no data for my other projects.
 

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