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10 things you should do to successfully manage your workplan
Like much of project management, updating the workplan requires discipline and habit. See how these steps can help you stay on top of the process.
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Create a risk contingency budget using Expected Monetary Value
Tom Mochal explains how the Expected Monetary Value technique provides a formula for determining the right amount of budget to apply to the risk contingency budget.
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See effect of dependent risk by using a decision tree
Certain risks may only appear as a result of actions taken as a result of managing another risk. Project management expert Tom Mochal says that is when you want to use a decision t...
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Take positive risks to gain project benefits
Take positive risks to gain project benefits
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Managing project risk is easy with the right process
A lot of project managers are intimidated by the notion of risk management. However, this simple five-step process will be more than adequate for most projects.
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Use these steps in qualitative analysis of project risks
When you use qualitative risk analysis you should evaluate each risk and designate each risk as high, medium, or low, depending on two criteria--the severity of impact and the prob...
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Use advanced roles to focus on specialized work in larger projects
As your project gets larger, it's important to allocate people into more specialized roles. These specialized roles help to make sure that important aspects of the project success ...
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See effect of dependent risk by using decision tree
It's possible that certain risks will only appear as a result of actions taken as a result of managing another risk. That's where you would use a decision tree.
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Look for inherent risks before starting your project
If your project has many inherent risks that fall into a high-risk category, it doesn't mean you won't be successful. It only means that you should put plans into place to manage t...
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Create a risk contingency budget using Expected Monetary Value (EMV)
A risk contingency budget can be established to prepare in advance for the possibility that some risks will not be managed successfully.