Risk Management

The WEF just published the Global Risk Report 2021. In its 16th edition, the report addresses the significant global risks like war, natural disasters, infectious diseases, and several other events and hazards that could jeopardize companies and governments' operations. In this episode, Ricardo highlights the report's main finds and goes back to 2020 to see how the landscape changed with the COVID-19 pandemia.

This week, Ricardo talks about a type of relationship that is becoming increasingly popular: coupled dependencies. This kind of relationship increases the delivery speed. However, if not appropriately managed, this coupled dependency can increase the risks and the chances of rework. This is due to the set of assumptions teams needed to create these coupled dependencies.

In this week’s episode, Ricardo introduces the concept of ROAM Risk (Resolved, Owned, Accepted, Mitigated / Minimized). The process of traversing (ROAMing) risks is a quick way to categorize and act on the relevant risks. This process is widely adopted in agile models such as SAFe (Scaled Agile Framework), mainly during the planning of increments or PI Planning.

Throughout the book, a real-world, practical project plan is used to explain all management issues related to a project, including scope, time, costs, quality, resources, communications, risk, procurement, and stakeholders. 

In this episode, Ricardo talks about two additional dimensions in risk assessment, going beyond traditional probability and impact. He gives examples of how the assessment of the urgency and the tendency of a risk can increase the quality of the risk mapping.

In this episode, Ricardo starts speaking if the assumptions and constraints should be documented in the Scope Statement or the Project Charter. Then, he reflects about the real relevance of knowing in what “piece of paper” this information will be inserted and reinforce that relevant information is what drives the project to success. Ricardo used in this podcast the word Restriction as a synonym of Constraints (a PMBOK® term).

In this episode, Ricardo explains something that many people still confuse, are risks and problems the same things? He also gives tips on how to manage problems, small or large ones, effectively.

In this episode, Ricardo explains that the risks report produced by the World Economic Forum is a source of rich information about global risks and can help a lot in during a project risk management. Download the report at http://reports.weforum.org/global-risks-2016/

In this episode, Ricardo does a quick retrospective in the project management world. He says we must understand that volatility is part of the game, and we should learn how to work with and around it.

In this podcast, Ricardo talks about the relationship between the risks and the project scope. Not just the clarity of the scope, but also its amplitude, contribute to the amount of risk that must be managed.

In this podcast, Ricardo talks about the types of contracts of the International Federation of Consulting Engineers (FIDIC). These contracts are widely used in engineering projects and published as books. Ricardo explains that the contracts are well prepared, bringing best practices that can be applied to various types of projects. Visit the site of the federation at http://fidic.org/

In this podcast, Ricardo talks about a complex situation where a stakeholder, on the client-side, refuses to accept deliveries, seeking to impute contractual penalties to the company managing the project. Ricardo shows two actions, one preventive and one corrective, that can be taken.

In this podcast, Ricardo talks about the PMI Global Congress 2013 which took place in New Orleans, Louisiana, USA. He makes a brief summary of his perceptions of the key topics of the event, such as, how the project manager can practice and improve his, or her, leadership and influence skills. Ricardo also talks about the importance of participating in the PMI Global Congress, especially for the great opportunities for learning and networking.

The objective of this paper is to propose a mathematical process to turn the results of a qualitative risk analysis into numeric indicators to support better decisions regarding risk response strategies.