How to Do Risk Management in Agile Projects
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- เผยแพร่เมื่อ 31 พ.ค. 2024
- Some people might expect that agile projects have - or even need - no risk management. That is completely wrong. So, let's look at how to do risk management in agile projects.
We need to adapt our risk management approach to the nature of our project. especially to the:
• level of risk
• risk attitude of your customer, client, users, or sponsor
• culture of the sponsoring organization
After all, all project management is hybrid project management!
The basic process is the same, in agile projects. We typically apply that process at 2 levels:
1. Level 1: The Project level
…an over-arching Risk Management framework
2. Level 2: The Iteration, or sprint, level
… a process that happens at each iteration
The essence of the process is:
• Identify
• Analyze (and prioritize)
• Plan risk responses
• Take action
• Monitor & Control RM progress
But, in addition, there are elements of risk management that differ:
- The adaptability of agile projects is a response to the uncertainty of the end product. Each iteration bites off a small chunk and thus limits risk.
- We follow the whole risk lifecycle at each sprint or iteration. This increases the focus on risk.
- The use of a backlog is a risk management approach.
- The Sprint Reviews and Sprint Retrospectives of Scrum allow constant improvement.
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Chapter Markers...
00:00 - Risk Management in Agile Projects
00:42 - Adaptation
01:40 - The main difference
02:02 - 2 levels of risk management in agile projects
02:43 - The basic risk management process
03:49 - Ways risk management differs in agile project management
07:17 - Problems of agile working for risk management
08:33 - Benefits of agile working for risk management
09:52 - All project management is hybrid project management
#Agile #ProjectManagement #RiskManagement
What are the similarities and differences between predictive and agile risk management? Let's find out.
PS: Just spotted an 'oops'! Loads of editing and review iterations. But still one too few! Oops. Sorry! Nothing incorrect, so should not diminish your enjoyment. Just a tiny lack of attention to detail.
The way you explain complex concepts in such a simple and straightforward manner is truly remarkable. I've been struggling to understand this topic, but your explanation made it crystal clear. Thanks very much!!
You're very welcome! I am glad if I have helped you.
My projects have always included an aspect of product development within a fixed budget and schedule project. Most of the risk in the project is associated with doing product development whilst committing to fixed timescales and price.
I run risk management at the project level but then when we start the development stage I include an agile approach where a small team iterates on the development. The high level risk is identified at the start of the project and then the detailed risks for the development are evaluated by the smaller development teams. Risks are fluid and evaluated weekly with a more indepth analysis on a monthly basis.
So as you said, it's about using the right tools etc at the right times. Risk management is one of the most important aspects of a project (a project is risky by its very nature) and it is important to instil a continuous focus on it. New risks can be "discovered" at any stage and by anybody.
Thank you very much, Michael. A very helpful insight into your process, which makes a lot of sense to me.
Always briliant. :)
Thank you. Always supportive.
Can you do a video discussing which companies use Agile methodology and which companies use PRINCE2 along with how why they spend time and money adapting a methodology to their environment? Would be helpful for my PM class I am taking! Love your explanations as they are helpful in understanding these types of things.
Great suggestion! But it sounds a little specific. The principle of how organizations select approaches and customize them to their own needs is a great idea, so I'll add it to my backlog.
It also sounds a little like you're asking me to do your assignment! Unfortunately, you'll need to work on it alone - I schedule 3-6 months ahead (predictive PM!). However, you may like this: Tailoring: How to Determine Appropriate Project Methodology, Methods, and Practices onlinepmcourses.com/tailoring-how-to-determine-appropriate-project-methodology-methods-and-practices/
How many types of primary impacts resulting from a business interruption or disruption event do we consider?
Tanmoy, I am not sure I fully understand what you are asking.
But, on the face of it, if an impact is a 'primary' impact, you need to consider it. Indeed, I suggest you also need to consider secondary impacts to assess their severity, and maybe, look at some tertiary ones too.
But, I wonder if you have a specific meaning in mind for 'primary impacts'. It's not a specific term I know.
You may also like to look at:
- What is a Business Continuity Plan? th-cam.com/video/G9JANBmTdqA/w-d-xo.html
- What is a Disaster Recovery Plan? And How to Make one. th-cam.com/video/c2WRVclyFcg/w-d-xo.html