- If you treat risk management as a part-time job, you might soon find yourself looking for one ’- Deloitte white paper (Putting Risk in the Comfort Zone)
- I have learned that nothing is certain except for the need to have strong risk management, a lot of cash, the willingness to invest even when the future is unclear, and great people ’- Jeffrey R. Immelt
- Thoughtfully assessing and addressing enterprise risk and placing a high value on corporate transparency can protect the one thing we cannot afford to lose trust ’- Dale E. Jones, vice chairman and partner with Heidrick & Struggles
- We have no future because our present is to volatile. Will only have risk management ’- William Gibson
- Risk management is a culture, not a cult. It only works if everyone lives it, not if its practiced by a few high priests ’- Tom Wilson
- I think the rise of quantitative econometrics and a highly mathematical approach to risk management was the obverse of a decline in interest in financial history ’- Niall Ferguson
- There is no doubt that Formula 1 has the best risk management of any sport and any industry in the world ’- Jackie Stewart
- Stronger regulation and supervision aimed at problems with underwriting practices and lenders’ risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates ’- Ben Bernanke
- If you don’t invest in risk management, it doesnt matter what business you’re in, it’s a risky business ’- Goldman Sachs president Gary Cohn
- Adventure without risk is Disneyland ’- Douglas Coupland
- Risk and time are opposite sides of the same coin, for if there were no tomorrow there would be no risk. Time transforms risk, and the nature of risk is shaped by the time horizon: the future is the playing field ’- Peter Bernstein, Against the Gods
- As population susceptibilities are better understood, we will be in a better position than we are in today to make informed decisions about risk management ’- Samuel Wilson
- Take calculated risks. That is quite different from being rash ’- General George Patton
- All courses of action are risky, so prudence is not in avoiding danger, but calculating risk and acting decisively ’- Niccolo Machiavelli
- Total enterprise risk management is critical, but implementing it is both expensive and easier said than done. Even the most sophisticated financial institutions are still basically silo risk managers ’- Danny Klinefelter, Professor and Extension Economist with Texas AgriLife Extension, Texas A&M University
- Playing it safe is the riskiest choice we can ever make ’- Sarah Ban
- The question of whether or to what extent human activities are causing global warming is not a matter of ideology, let alone of belief. The issue is simply one of risk management ’- Malcolm Turnbull
- Business people need to understand the psychology of risk more than the mathematics of risk ’- Paul Gibbons,
- Risk comes from not knowing what your doing ’-Warren Buffett
- You have to take risks. You will only understand the miracle of life fully when we allow the unexpected to happen ’- Paulo Coelho
- Risk is a function of how poorly a strategy will perform if the ‘wrong’ scenario occurs ’- Michael Porter, Competitive Advantage
- Risk management should be an enterprisewide exercise and engrained in the business culture of the organisation ’- OSFI Superintendent Julie Dickson, June 1, 2011 (courtesy Ethidex)
- Risk is our business ’- Oswald Grübel, CEO at UBS
- When our leaders accept the status quo, we run the risk of disaster ’- Max Bazerman from “Predictable Surprises”
- The concept of ‘inherent risk’ is impossible to measure or even define. The idea of looking at risk absent all hard controls, soft controls, or mitigations, provides little or no useful information in most cases ’- Todd Perkins (from Journal of Applied Corporate Finance – volume 19 number 4)
- It’s important to take risks but it’s idiotic to take them blindly ’- Terry Levine
- Fail to identify the strategic risks and you fail as a business, no matter how well you manage your operational and project risks ’- Keith Baxter
- Business as usual is business at risk ’- Deloitte white paper
- Risk management is the identification, assessment, and prioritisation of risks ’- Wikipedia
Project Manager or Scapegoat?
Big Project Failures Claim Their Victims in Spectacular Fashion
You’ve just been assigned a high visibility failing project and you’re working round-the-clock to get the work to the client on time, despite the fact that the job bears barely any resemblance to the project you initially discussed. The scope keeps creeping, the risk and issue alerts are coming in thick and fast, the project is already two months past the original deadline, the clients are getting antsy even though they’re yet to provide you with various key pieces of information in order to baseline the project. Is this your chance to shine and showcase your skills?
If You Don’t Know Where You’re Going, You Will Probably End up Somewhere Else – Laurence J. Peter
If you manage to turn the project around and the project is successful, you will attract many fathers. However, if the project fails, you will probibly be offered up as the sacrificial lamb (scapegoat), there is absolutely no way around it. A high percentage of projects fail to deliver useful results, that’s a fact.
Project managers are regularly blamed for schedule delays and cost overruns for projects they inherit by no fault of there own, however, in most cases, the fault for such issues rarely lies with just one person.
Sufficient data has been gathered to indicate that blockers such as unsupportive management, senior sponsorship or low resource availability are as much to blame for project failure as ineffective stakeholder management or poor communication.
Capture all decisions
The only way to protect yourself is to ensure that you capture all decisions made in the project. In most cases many of these decisions will have been made by people above you. While you can influence decisions made by people under you. Get into the habit of building a dashboard early in the project and updating it each week with actuals. Also consider using a standard repeatable technique to analyse the health of your project.
Constrained resources
If you are in a project where resources are constrained, clearly outline the resources that you require to deliver the project in terms of time, scope, budget, risk and quality. If resources are pulled from your project, clearly articulate the affect of that in delivery terms and measure that to time delayed or cost added.
Risk and issues register
Operate a strong risk and issue register, ensure it is both visible and assessable so your team can actively participate in updating it.
Stop the project
Always remember, cancelling the project is not always a failure. There can be many reasons why the project may no longer be desirable now. If you have done your job well, you can be really successful by ensuring a project does not continue to meander along, wasting time and money when there is no possibility of completing the project.
Organisational change management
Unfortunately, the same can’t be said when there are organisation change management issues. While there are a few project managers who feel their jurisdiction ends at the triple constraint, most now understand the need to achieve the expected benefits from their projects.
So when is it fair to blame a project manager for poor implementation of a project’s deliverables, this is assuming that they were employed at the beginning of the project?
- If they didn’t perform good stakeholder analysis during the project initiation stage as well as at regular intervals.
- If they turned a blind eye and deaf ear to factors that could impact value achievement
- If they didn’t insist on a clear communication strategy and progressive information sharing with relevant stakeholder groups.
- If they didn’t engage influencers from key stakeholder groups throughout the project lifecycle.
- If the organisation management deliverables were not built into the project’s scope definition and work breakdown structure.
Assuming the project manager was appointed at the start of the project and had undertaken all of the above, what are invalid reasons to blame the project manager if the project failed?
- A lack of timely resource availability or commitment by the organisation
- Directives to the project manager to not engage certain stakeholder communities
- Ignorance by senior sponsors to management risks raised by the project team
- A management decision that is too bitter a pill to swallow in spite of how much it has been sugar coated
Have any comments or stories that could help to expand this article?
34 Thought Provoking Change Management Quotes
Change is good. It’s also often hard. The status quo can be so much more comfortable. But to succeed in business, you must run toward change. Companies most likely to be successful in making change work to their advantage are the ones that no longer view change as a discrete event to be managed, but as a constant opportunity to evolve the business
Here are 34 thought provoking change management quotes:
- It is not the strongest or the most intelligent who will survive but those who can best manage change — Charles Darwin
- One key to successful leadership is continuous personal change. Personal change is a reflection of our inner growth and empowerment — Robert E. Quinn
- Change before you have to — Jack Welch
- You must embrace change before change erases you.
— Rob Liano - Change before you have to — Jack Welch
- Too few leaders have the emotional fortitude to take responsibility for failure.
— Paul Gibbons, The Science of Successful Organisational Change: How Leaders Set Strategy, Change Behaviour, and Create an Agile Culture - People don’t resist change. They resist being changed! — Peter Senge
- If you want to make enemies, try to change something — Woodrow Wilson
- The key to change is to let go of fear — Rosanne Cash
- The world hates change, yet it is the only thing that has brought progress — Charles Kettering
- There is nothing more difficult to take in hand, more perilous to conduct, or more uncertain in its success, than to take the lead in the introduction of a new order of things — Niccolo Machiavelli
- Change is the law of life and those who look only to the past or present are certain to miss the future — John F. Kennedy
- Even those who fancy themselves the most progressive will fight against other kinds of progress, for each of us is convinced that our way is the best way.
— Louis L’Amour - Whosoever desires constant success must change his conduct with the times — Niccolo Machiavelli
- Your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your competition, customers and business — Mark Sanborn
- Change your thoughts and you change your world — Norman Vincent Peale
- If you don’t like change, you will like irrelevance even less — General Eric Shinseki (U.S. Army Chief of Staff, 1999-2003)
- We now accept the fact that learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn — Peter Drucker
- Whosoever desires constant success must change his conduct with the times
- — Niccolo Machiavelli
- All is connected, no one thing can change by itself
— Paul Hawken - Learn to adjust yourself to the conditions you have to endure, but make a point of trying to alter or correct conditions so that they are most favorable to you — William Frederick Book
- We would rather be ruined than change
- We would rather die in our dread than climb the cross of the moment and let our illusions die — W. H. Auden
- Every generation needs a new revolution — Thomas Jefferson
- Never doubt that a small group of thoughtful, concerned citizens can change the world. Indeed it is the only thing that ever has — Margaret Mead
- I’ll go anywhere as long as it’s forward — David Livingstone
- Life isn’t about finding yourself. Life is about creating yourself — George Bernard Shaw
- Adaptability is about the powerful difference between adapting to cope and adapting to win— Max McKeown
- You can’t build an adaptable organization without adaptable people–and individuals change only when they have to, or when they want to — Gary Hamel
- People will try to tell you that all the great opportunities have been snapped up. In reality, the world changes every second, blowing new opportunities in all directions, including yours — Ken Hakuta
- A wise man adapts himself to circumstances, as water shapes itself to the vessel that contains it — Chinese Proverb
- The price of doing the same old thing is far higher than the price of change — Bill Clinton
- Each of us has the opportunity to change and grow until our very last breath. Happy creating — M.F. Ryan
Change or die? we choose life! How about you?
Are Women Better Project Managers Than Men?
Can the Real Project Manager Please Stand Up?
From Outreach Ideas to Action in Three Easy Steps
A good idea is great. A good idea that’s executed perfectly can change the world. But a simple idea alone is useless.
A Good Idea That’s Executed Perfectly Can Change the World
There’s an idea that flops and an idea that becomes the next biggest thing. It’s all about how it’s executed. If it doesn’t come with a plan, or if it appears too difficult to introduce, someone else will do it, leaving you with a has-been idea that can no longer be implemented. This is why every ‘brainwave’ ‘eureka’ moment idea needs to be teamed together with a worthy execution”¦if not, don’t expect much.
Pushing an innovative idea forward into something else remains one of our biggest challenges. Admittedly, it can be a super exhausting process, which is why it’s always a great idea to invite the crowd to not only come up with the wonderful ideas, but to also help develop them as well.
There are a few key stages that need to be followed when it comes to getting your crowd in on the idea decision-making and development game.
1. Create a Unique Team
Almost anyone can research and refine new innovative ideas. However, you can take it a step further and invite the crowd to join in the fun and be a part of your team. This will give your idea more validation. It will also decrease any potential risk, and at the same time it could be a huge timesaver when it comes to marketing and finances.
In short, each and every idea should be unique enough to sway people to join a team that supports the idea.
2. Fine Tune that Idea
They say that behind every great idea catapulted onto the market, there was an equally great plan. Every idea requires some sort of plan. It could be just a basic one that briefly outlines the various possibilities connected to it, or it could be a more complex plan that delves into the intricacies of it.
A good plan should include a business plan. This might seem like a given, but you’d be surprised as to how many people don’t have a good business plan to back up their ideas. Plans should also include target audiences, marketing ideas and much more.
You need to approach every idea in a methodical way. You’ll need a unique set of criteria that pertains to one idea – it’s not a case of one-size fits all. You’ll need to answer any question that arises, and until this is done, you can’t move forward and successfully turn your idea into reality.
Use and involve your crowd. Ask them to research various aspects of the idea, and then have them report back and share their ideas and findings with the rest of the group.
3. Don’t Stand for Mediocre
There are literally hundreds upon hundreds of okay ideas. There are even hundreds of great ideas. But, an average or good idea is not enough, which is why it’s absolutely essential to select only the best of the best ideas. It doesn’t matter if it’s only one mind-blowing idea because as the old adage goes, quality is better than quantity.
Quality Is Better than Quantity
The good and even the great ideas might struggle. Such ideas are difficult to get funding for, and it’s more challenging to prototype and deliver them. If you want to make your idea come alive, you need to have defined criteria, which allows for choosing the best idea to follow up on. After the criteria has been established, it’s time to use the crowd again aka Christian community. Ask them to respond accordingly and honestly – does the idea meet all the listed criteria?
If yes, that’s great, you’re moving towards success. If not, it’s back to the drawing board to get it right.
You need to act now and remember this: it’s okay to simply start by putting just one outreach idea into action.
What kinds of challenges do you and your team face when trying to develop your ideas further?
Manage Your Project More Effectively Now
There are a few who get project management right from the outset, but for many it’s a minefield. In theory, project management seems easy, but it’s not as straightforward as it seems. If you’re like the majority of people, you follow what seems like a simple project management process. You start by setting your budget, you choose the right people to join the team, and hope the project gets completed without too many hitches along the way.
But, realistically speaking, project management is nothing like this – it’s hardly ever so straightforward. Mistakes are made. You might choose the wrong people to complete the project. Your team might have no idea what’s expected of them or what the project goals are, or in some cases they might even receive conflicting information, which puts the whole project in jeopardy. Sometimes the scope of the project changes, and because of everything else that’s going on, your team is unable to fulfill the requirements and meet the project deadlines.
It happens, and you’ve got to be prepared for any situation while working together towards the common goal – successfully completing the project.
Don’t throw in the towel just yet. It might seem daunting, but there are few surefire tricks of the trade which businesses and project managers can implement to better their chances of successfully completing a project on time and within budget.
1. Know the Project Details Well
Before starting, you need to create a thorough project scope that outlines every single thing. This then needs to be approved by every stakeholder involved.
Your scope needs to have as much detail as possible such as the short-term milestones, deliverable dates, and a budget outline. It makes sense really. The more detail it includes will improve your odds when it comes to completing the project successfully.
What’s more, you’ll also improve your relationship with your client throughout the whole project process from the beginning right through to the end. Of course every project will encounter a few changes along the way – this is the norm, but having a detailed plan will help you manage your client better when something is off course.
Choose your Project Team Members and Size Wisely
2. Choose your Project Team Members and Size Wisely
Naturally, if you want your project to be a winner, you need the right people for the job, which includes having the right project manager on board. Keep your team as small as possible – size does matter; so don’t let anyone else tell you otherwise.
The smaller the team, the better the communication. It also eases the stress and takes the pressure off the project manager. With a smaller team made up of the right people, the project manager will be able to organise their group without losing sight of all the details and work that’s needed doing. So, if you really want to have an effective project, limit your group’s size and only use those people and their skills that can benefit the project.
3. Highlight your Expectations from the Outset
You need to outline what you expect and what the client expects, which includes all the milestones, from the very beginning. Setting more milestones more frequently will allow you to follow the project’s progress more effectively. This way you’ll be able to jump on things quickly when they begin to go off scope, allowing you and your team to remain on target and on time.
Setting frequent milestones in a project will also allow you to review your spending and the investment thus far, which in turn will help you stay within the budget.
Milestones remove any ambiguity. They allow people to stay on target and there’s less risk of derailing the project.
Milestone setting should be a team effort. Everyone should be on board, so there won’t be any excuses later on down the line.
4. Does your Team Know what They’re Doing?
It may sound like a given, but it’s really important to be crystal clear from the beginning regarding people’s roles in the project. In other words, you need to highlight who is responsible for what, and what their deadline or deadlines are.
Things can get complicated with many people working on the same task. Sometimes things get misinterpreted or lost in translation. Avoid anyone being confused by clearly stating who should do what right from start, and make sure you enforce accountability.
You don’t need to worry about manually managing such tasks, as there are plenty of easy-to-use online task management programmes that can do this for you, so embrace technology and ease your pressure.
You may think it’s a waste of time spelling it all out, but this ensures that the full scope of the project is understood, people are clear of their role and individual and collaborative timelines. This is the key to keeping people on task and motivated.
5. Stop Micromanaging
It’s important to constantly touch base with your team members. However, there’s a fine line between supporting them and breathing down their necks. Give them space instead of micromanaging. Empower your team, trust them, and you’ll get their best work.
6. Use a Reliable System to Manage the Project
Communication is key. Most people rely on emailing, but when it comes to managing a big project with a number of different people working on it, this can hinder the project’s progress. Constantly referring back to old emails and previous correspondence is only going to waste precious time. Use software that keeps everything in one place from communication to any project information and updates. This will save you and your team a lot of time and money.
Motivate your Team
7. Motivate your Team
Everyone works better with positive reinforcement. Set milestones and reward when they’re reached. Your milestones will keep all people on track. Celebrate milestones together, but be sure to also recognise those who can’t meet them.
8. Frequent Short Meets to Stay on Track
It’s a project with many people collaborating, so holding regular meetings is a must. This is the only way to ensure that everyone and the project are on track. But you need to keep it short and sweet. Don’t meet for the sake of meeting. Have an agenda and stick to it. If you’re doing your project virtually, it’s even more important to touch base on a regular basis, so keep those communication lines open.
People do tend to go on at times when given the floor, so give everyone a set time to speak and make sure you all stick to it.
9. Allow Time for Change
No project ever runs 100% smoothly and specifications do change along the way. So to avoid the unnecessary stress and running around frantically, do some forward thinking, and set aside a certain amount of time for any changes in the scope – you’ll thank yourself for doing so in the end!
