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Risk Management presentation

About 2 weeks ago, I attended a lunch put on by the Baltimore chapter of PMI. They run these lunch sessions on a monthly basis. They have a catered business lunch (hoo boy! Wraps!) and have a speaker from the chapter present on a topic.

The December topic was ‘Never cancel a risk meeting when the building is burning’, given by Chris Schaefer, PMP. I think my first question for the session, which of course I didn’t actually ask, was ‘what the hell’s a risk meeting?’. What I was able to glean from the presentation was essentially, ‘I’m probably running my project team meetings wrong.’ When I run a project meeting, I do what everyone does, or at least everyone inexperienced in project management. I focus on status. Where are we today?

What is a risk meeting? ‘Where will we be tomorrow, and what are the road blocks to getting there?’ If I can start to move in that direction, I can start to be more proactive about addressing risks before they blow up.

One area of general risk is the issue of expectation management. I wanted to share this image, since it captures expectation management pretty well (though,¬†allegedly, it’s become a cliche now).

A couple of the other take aways:

  • Approximately 71% of projects fail. Obviously risk management is not an important enough focus on these projects.
    • The Standish Group published the CHAOS report in 2004, and republished it in 2009, looking at project success standards (it seems there are tons of disputes to the CHAOS report finding, so that may be a different blog post) (Also, sadly, the report is not available in the PMI online resource library. Anyone have a copy of it you wouldn’t mind lending me??).
  • One of the recommendations for taking over a project that is already in the red is to have a clear game plan. Mr. Shaefer’s suggestion:
    • Engineer Success
    • Bargain Fairly for time, Scope, and Resources
    • Never Cancel a Risk Meeting
    • Everyone is your customer (and he mean’s EVERYONE!)
    • No surprises- communicate clearly, effectively and often
    • It’s not about you: Seek first to understand, then be understood.
    • Project Management is the Service Business
    • Event+Response= Outcome
    • The world is your oyster
(notes from “Never Cancel a Risk Meeting, Chris Schaefer, PMP. Held In Columbia, MD, 12/5/12).
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  1. Can I be of service? « Dan's Project Management Blog

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