Risk Project Management
Risk management
Risks are any events which can adversely affect the successful outcome of the project. I've worked on projects where some of the risks have included: staff lacking the technical skills to perform the work properly, hardware not being delivered on time, the control room being at risk of flooding in a major thunderstorm and many others. Risks will vary from project to project but it is important to identify the main risks to a project as soon as possible and to plan the actions necessary to avoid the risk, or, if the risk cannot be avoided, to at least mitigate the risk in order to lessen its impact if it does occur. This is what is known as risk management.
Risk Project
No contrive is e'er without risks, but it is the nature and complexness of the project that are belike to influence the upshot of the risks on the boilersuit success of the propel. But whether the design is teeny or jumbo, unsubdivided or difficult, an telling try direction strategy leave minify the fighting if, and when, the risks become. In request to manage the risks it is important tasks implicated in Try Direction are:
- Creating a Essay Direction Thought which testament activity in identifying and analysing the risks, monitoring the risks and responding to them.
- Establishing and maintaining a Danger Log itemisation the risks and their strictness. This is a recyclable document not only for monitoring the risks but also for act the risks to all the stakeholders.
- Analysing the measure of each attempt occurring and its effect at chore level and on the overall program in terms of deliverables and programming
- Developing a strategy for responding to risks that become
- Including occurrence finances and construction abstraction contingency into the Project Schedule
But the Risk Management Direction staleness also be adaptable enough to wood with those risks that could not mortal been predicted and so were not identified before they occurred. It is really often the strategy that is victimised to wad with these unhoped risks that determines the farthest success of a throw.
For all the risks that bed been identified either prior to the propose play or during the project the assign handler would typically know observed a solution. These risks can potentially reason delays to the schedule and prevent the livery of a chore but are relatively easily managed by an toughened propose trainer with suitable direction and act skills.
There are varied distance to move to a probability that has occurred but the most common slipway are:
Accept- the essay can be received, in which instance the throw administrator testament individual to work the customer that the schedule, budget or deliverables instrument not be met. The client give person to stomach such deviations if the impel is to be deemed a success.
Transfer- if the seek that has occurred is specified that a particular strain, attribute or office cannot be delivered then it could be transferred to a later project thereby deferring the essential to control with it in the acquaint. This activity would compel manipulation through a formal convert management outgrowth.
Mitigate- it may be practicable to provide an unimpeachable workaround that leave decrease or decimate the opening.
It is worth noting that risks can occasionally soul a formal import and can actually section to improvements or enhancements to the task that had not been advised at the outset.
The Probability Direction Contrive faculty also let prioritisation of the propel risks and senior them in relation to the budget, the assign schedule and the deliverables. The superior testament value that few ascribe risks could be good piece any are exceptionable and would tell a possible set.
Risks testament never be eliminated from a throw but it is workable to modify the upshot of risks by learning from the experiences of both your own projects and others. It is extremely rich to document the lessons scholarly from a assign to meliorate the growth of danger management on rising projects.
You can use project software, like Microsoft Office Project, to create the project plan, or for simple BPI efforts, you can simply use a spreadsheet. Include the same information in the spreadsheet that you would include in a software application, including the task name, duration, start/finish dates, predecessors, and resource names. Of course one downside to using a spreadsheet is that you have to calculate the duration for each task and its associated start/finish dates. Another downside is the inability to use a Gantt chart to show planned vs. actual timelines as the project progresses, and the Gantt chart is a good tool to use, to show progress in a graphical way. However, for simple BPI projects, a spreadsheet works fine.
Business Continuity with the Risks
The risk analysis and business impact analysis have identified risks to key business functions. All business continuity analysis should be risk based, and risk prioritised to deal with the important business risks first. This means that any risks to your business need to be identified, examined and dealt with.
There are 4 options for dealing with each risk:
1. Reduce the risk. Reducing the risk falls into 2 categories - reducing the likelihood of the problem occurring and reducing the impact of the problem if it does happen. A simple example is that by having a fire alarm you are reducing the likelihood of a fire spreading unseen and by installing a sprinkler system you are reducing the impact of fire.
Reducing the risk is often referred to as mitigation. For example, data backups are a form of mitigation. They reduce the impact if a problem occurs which affects the primary data source. Any mitigating actions require testing to provide assurance they work when required.
2. Transfer the risk. This is an interesting option which may be seen as a get-out, but which is a perfectly valid thing to do. By transferring a risk it becomes someone else's problem and you therefore have the risk covered. We are not talking about blaming someone else, or even transferring the risk to someone else in the company.
For example, there could be a risk that office space will not be available in the case of a disaster in the main location. Therefore the risk can be transferred to a third party company which organises office space for disaster recovery and keeps offices available for companies who need such a recovery service.
3. Accept the risk. By accepting the risk of a potential problem you are at least aware of its existence and can plan for it happening. If it is a risk that would have no impact for an acceptable period of time it should still be noted but you may decide to take no action until it occurs.
Almost by definition, accepting a risk is also reducing the impact of the risk as you are aware of the potential problem and can write it into your business continuity plan.
4. Ignore the risk. This option should never be selected. There is never a reason for ignoring a risk once it has been identified. A risk can be accepted (acknowledged) but must never be ignored.
Once the actions for each risk have been identified, then anything put in place to help cope with a risk needs testing. However, many companies either test nothing at all or try testing every facet of a business continuity plan. Both methods are doomed to failure. The answer is to adopt a risk based testing approach from two perspectives: the business continuity plan is fit for purpose and it will work when invoked.
A health check (testing the plan is fit for purpose) needs to be performed by someone other than the authors of the business continuity plan. Ideally it's performed by an independent third party that specialises in testing business continuity plans, but it could be a disinterested party from another part of the company. Independence is essential here for an objective assessment.
Testing the plan will work when invoked, must be viewed in a business context and the elements of the plan prioritised so that the risks with the most business impact and likelihood are tested first.
Important Risk Management
Risk Management & Employees
Employees are also given the safety environment for them to work in any business that hires their services. Risk management allows the business to come up with the best atmosphere that is conducive for working. For those that are mostly standing during the work hours, anti-fatigue mats are put to reduce the stress on the employee. However, the fatigue is not totally purged, but with this type of mat, the worker is able to handle the job well. It is observed that using anti-fatigue mats improves performance, keeps workers alert and decreases the chance for accidents to occur.
A big risk industry is transportation - we're talking about carriers, freights, taxis, ambulances, limos, any service on wheels for that matter. All operators face unpredictable risks every day, because we all know the road is never a safe place and accidents may always occur. On top of that, you are liable for the safety of your customers and thus paying for business insurance will be high. Even so, getting into the business of transportation is expensive and not a sure fire way to success. Take Taxis, and factor in the cost of fuel, car maintenance, employing reliable drivers, paying for licenses, it all adds up and there are so many factors which liquidate your profits if you're not careful with budgeting.
Another risky business to start is in the realm of communications. It seems that the market is already saturated and monopolized by several large brands. Expect low margins and not much customer loyalty if you are starting fresh. To combat the prices of the other giant communications companies, you really have to be providing a unique service at highly competitive prices. It is one of the highest risk industries to enter and not for the faint of heart.
Workers that use electronics make use of anti-static mats. These mats are unique as they are able to eradicate static electricity from being transmitted by the worker. Managing this risk is essential since handling electronic equipment can spark static, which can result to electric shock and other dangers when hazardous materials react. Anti-static mats protect employees from electrostatic discharge from electrical equipment. With these mats electrostatic discharge are kept from hurting employees as well as damaging equipment. The anti-static mats need to be grounded for them to be effective. Grounds cords are available to make sure that static is definitely removed.
Risk management is concerned of the very details in any business to enable appropriate actions. Even as simple as using entrance mats, anti-fatigue mats or anti-static mats in the workplace reduce the risk in any operation. Both workers and customers are given consideration so as each one will have a pleasant experience in doing work and looking into what is offered, respectively. Risk is not something that will worry an executive in moving forward with the investment but something that can be managed. In the real world, companies succeed because they took the risk and able to handle it.
Winners Never Quit
"A goal properly set is halfway reached." - Abraham Lincoln
Sounds simple, right?
1. Love
Love is the first success principle because almost everything that has ever happened in this world is because of love. Without love, there is surely no single life on this earth. Love creates human beings who continue to create many other things because of their love.
"Do what you love and love what you do" is what successful people almost always tell their followers who thrive to become successful too.
2. Persistence
Persistence is another success principle which teaches us not to quit when thing gets tough and also reminds us to have a tougher mindset than the toughness of the job we work on. Dr. Robert H. Schuller puts this best in the title of his best-selling book "Tough times never last, but tough people do".
Persistence is somehow related to and could be intensified by the first success principle called 'love'. With strong love comes high persistence and commitment. For instance, a friend of mine Joe has discovered his love in body-building. Second, you need a specific, measurable, achievable, realistic, time-bound goal. A SMART goal helps you fight against the sense of quitting that keeps haunting you. That thing should relate to your goal or that somebody should talk about your goal.
3. Consistency
Success is more like accumulation than achievement, process than product. Day by day, he has saved his muscles from small to big size called success.
There is almost no one push that guarantees the result, but if you push often enough, many or all the pushes will yield results that you can reap.
All in all, stick to your goal; unless you have achieved it, you must not quit because quitters never win and winners never quit.
4. Dream
Dream is one of the most essential success principles because dream is one of the foundations of success. Without dream, success is almost impossible. For instance, The Wright Brothers dreamed of having an airplane which had not existed in their generation.
To have a dream is good, but to have a burning dream is much better. Burning dreams could be seen in people who have turned their life in 360-degree manner. A guy who has lived in poverty has a big dream to live his life in abundance. A bad child usually has a burning dream to make their parents proud.
5. Goal
There are so many definitions and explanations about goal, and one the easiest is that goal is a dream with a deadline. There are two types of goal--long-term and short-term. Both types of the goal are conditioned by time. Some long-term goals could be 10 years, 20 years or even a life time while short-term goals could be a month, week, or day. People are adept at setting goals usually make their short-term and long-term goals consistent with one another so they can stay focused on one track.
Setting goals is crucially important, and there are definitely so many goal-setting approaches all of which center on the SMART characteristics. SMART is the abbreviation of Specific, Measurable, Achievable, Realistic and Time-bound.
6. Action plan
Action plan is a schedule of daily activities to which you adhere in order to achieve your goal or realize your dream. A goal is a goal and will never be realized unless there are some activities taken on a regular basis.
There are so many people who like to set goals but cannot achieve them because they fail to design action plan to execute. Action plan is just a list of activities that you can do to get your goal. For example, if your goal is to get big muscles, your action plan could compose of activities such as going to gyms on a daily or weekly basis, living on a diet, consuming healthy food, and etc.
Activities that you do regularly determine whether you succeed or fail. So you should set not only your goals but also those activities. Monitor them well before they get overwhelming.
YOU CAN DO IT. YOU CAN BE IT, YOU CAN HAVE IT. So, NEVER QUIT.
Tips management information
What is information management?
Information management in the mid market space and the mid enterprise space enabling an organisation to most effectively deliver it's products and services to it's clients and users so it's seen as an IT function but in reality it's a business function it's knowing how an individual department will create, use, store, maintain the information in its remit, how that information is shared so its an all encompassing information flow throughout the organisation and it needs to be seen like that, it's an iatrical part of the business process therefore developing an enterprise architecture without understanding the information flow and the information architecture you're always going to be missing a critical piece.
the computer systems in an enterprise are usually termed as Management data Systems which give data concerning business operations. In companies the Management data Systems check with a centrally coordinated system of computers and management controlled by a main frame system. therefore a management data system provides the required data to manage totally different operations in organizations efficiently.
Almost each renowned organization is using management data in an organized manner to induce the operations done swiftly. Generally, management data are often categorized into differing types that are:
• call Support systems
• government data systems
• selling data Systems
• workplace Automation Systems
Normally, the essential purpose of employing a management data system recently is to position things in an exceedingly systematic manner and to create the work of the project managers simple.
Information that's maintained in an exceedingly management data system is depicts the total image of a company and act as an organizing, coming up with and analysis tool. Like:
• Revenue reports are generated that facilitate to indicate the weaknesses and strengths of organizations.
• Evaluating the performance of workers by maintaining records
• Performing Direct selling and Promotional Activities by judging the trends within the knowledge of the customers' preferences
The management data could be a large system comprising of the many techniques, trends and methods which might be combined along to prepare corporations in an exceedingly higher approach comprise of the following:
* do not Multitask:
Multitasking could be a fallacy and one ought to target one issue at a time. One cannot do 2 issues at a time and therefore the brain keeps switching from one thing to a different, leading to delay of the completion of the task on time.
* Schedule Given Tasks:
One ought to create a schedule of the given tasks, and do the foremost vital issue initial.
* Manage Emails:
One ought to manage the emailing system by managing bound rules that facilitate in reaching the target emails while not wasting any time. alter the priority emails first; this job are often mad simple by using Microsoft Outlook that provides an choice of flagging the e-mail or highlighting with a selected color.
* Keep web site Updated:
The website of the organization ought to be kept updated with latest data and current standing to stay the purchasers informed.
* Self-Evaluation:
One ought to evaluate himself so as to seek out the estimated time that he would take to finish the task and it greatly helps in managing and scheduling timings. potency will matter a lot!
* Keeping a distance from problems:
One ought to get mentally ready to face any quite resistance as it is a common observation that issues do not occur when a project is started however they arise when it's on the point of end.
* Do one thing Different:
Don't get your brain full of the tense thoughts relating to the project, instead take a possibility and assume one thing totally different or select a walk to modify your mind to one thing else. Reading a book or being attentive to music aren't suggested break activities as they themselves are high data activities and that they will not let your mind pass though the overload.
Leadership In Teamwork
Making sure a project goes from concept to completion relies on being surrounded with the right people. Being responsible for holding them accountable to each task in the process requires leadership, vision, and a dash of humility mixed in. Leading a team of people can make you a better person, giving you a greater understanding of human nature.
There is no "I" in team. As a leader of the group you'll have to preach this mantra loud and often. Also this daily conduct is the foundation you should personify. It's vitally important that you lead by example and celebrate the achievements of those in your team. Without them, you can't get the job done. Make sure that you give more praise than criticism, and be quick to make mention of the special efforts one gives to the cause.
Keep the ship steered straight. It's very difficult to rule by committee. Hence why the Roman senate was such a mess! At the end of the day you're the one who has to make the decisions. Use your team to make suggestions, digest them, than plot a course. You won't make everyone happy all the time, and that's okay. Yet, when people see the finish product, few will remember all the little indifference's along the way.
Be willing to take the heat, and give away the glory. There will be times where you're going to have to "take one for the team." That's just part of the job of being a leader. When things go badly, everything is your fault. Yet when things go great, everyone else will clamor for credit. This is where you must keep your ego in check. It's crucial to understand why you're in charge and are making the big bucks. Do it all with humility and respect, and you'll garner respect of those around you. In particular, your team.
Temper your temper. When looking over your critical path, and taking a snapshot of the "big picture", if there is something or someone needs attention, be sure you do it professionally. No likes someone who yells, and besides, no one really listens to it either. You job is to get peak performance from the people under your employ, and to keep up their enthusiasm throughout the process. A few ill timed words can throw one hell of a monkey wrench that can jeopardize the entire process.
It's stressful being a leader, or you can choose to make it a rewarding experience. While a good leader delegates, his true job is maintaining the harmony of the team and keeping people on track while keeping egos in check. Start with yours, then by your example it should permeate to others. Allowing others to share, celebrate, and sometimes stake claim to your vision will make sure that the result is achieved efficiently, quickly, and happily.
A great leader must identify and fulfill the varying needs of each team member, even if they are unusual or different.
Business Continuity Management
Businesses are operating in a world full of risk and uncertainty, yet the identification and management of risk is still often poorly understood. Most companies will survive if they ensure risk management is central to their business ethos and updated regularly, in line with their business plan and mission.
BCM is an holistic management process that identifies potential impacts that threaten an organisation and provides a framework for building resilience and the capability for an effective response that safeguards the interests of its key stakeholders, reputation, brand and value creating activities (Business Continuity Institute (BCI), 2009).
Business continuity management is a whole-of-business approach that includes policies, standards, and procedures for ensuring that specified operations can be maintained or recovered in a timely fashion in the event of a disruption (Bank For International Settlement (Basel), 2005).
- Major Incident Planning
- Disaster Planning
- Emergency Planning
- Disaster Recovery and Business Continuity Planning
The recovery of the business processes needed to maintain an acceptable level of operations in the event of significant interruptions to normal business.
