As with all such commentary, the only meaningful legal interpretation should be that of your Association's attorney. The article, while benefitting from some general legal input, is not meant to replace or in any way substitute for legal representation. It does NOT mean that we are out of the woods. The amendment co-sponsored by Senators Geller and Lynn SB does allow condominiums to opt out of the exigencies wrought by the January 1, Fire Safety Legislation.
ProfessionalismProject Management [bibshow] Risk management is a diverse topic. It can be the simple intuitive risk handling that we do in our everyday lives.
Risk management can also be a highly regimented and mathematically advanced as used in nuclear power plants and other high risk, high complexity situations.
In this post I will describe a simple three step approach to risk management. It is a simple method that I often use with clients to help them focus on the most important risks. Risk management for nuclear power plants, such as this one in Gundremmingen, is highly complex.
It is far outside the scope of this article which focuses on a simple three step process to risk management. Three simple steps for successful Risk Management For everyday business use, you can apply the following three simple steps to risk management: Owned by the author Three steps for risk management: With the simple three steps method for risk management you can perform all three steps in a single meeting.
But before you start, you must decide what your focus is. As you go through the process, keep that focus in mind for yourself and those helping you. Risk Identification Risk identification is the first step in risk management.
You need to identify risks using an approach where you divide the risk in two parts, the trigger and the consequence.
The trigger is some averse event such as lightning hitting your house and the consequence is something that happens as a result for instance that your house burns to the ground.
How should you identify your risks?
Use the expertise of your team. Use issues and risks from previous and parallel projects. Use standard risk lists. But use them in a meeting where you make use of Delphi techniques like brain storming to make sure that you leverage each of your team members.
Risk Assessment How big a risk is that? Which are the biggest risks for us? Risk assessment is the process that tries to answer that question.
I propose that risk is simply the product of the probability that something will happen and the impact if that happens. This is actually why we made a clear distinction in the previous phase between the trigger and the consequence.
What we need to estimate is the probability of the trigger and the impact of the consequence. Calculating the risk level Using full mathematical rigour is not required here. It is enough to divide probabilities and impact into a 3- or 5-point scale.
I prefer a 5-point scale. If the problem is certain to occur, it is not a risk but an issue and those we need to handle in a different way.
A 5 should be grave enough that it threatens the existence of the whole project or product or other focus that you are assessing the risks for. To obtain the risk level, multiply like this. The advantage with the latter is that you will have an empty cell instead of a 0 for those risks that have not been assessed yet.
I often use conditional formatting, color scale, red-yellow-green. If you have used my second formula, the result will be that you have the highest risks highlighted in red and the lowest risks in green.
At this point, you should have something like this: Owned by the author After identifying your risks, assessing them and possibly adding some conditional formatting you should have something like this.
Needless to say, you should also considering sorting your risks from higher to lower risks. Sometimes showing the risks in a table format might help people understand them better. Here is an example for the same data: You should note that the same actual event can appear more than once in your risk analysis.Overused Business Buzzwords.
game plan gap analysis. get on the bus. get our ducks in a row. giving % glass is half full globalize go the extra mile goal-oriented ("Buzzword Bingo" was the polite name for one of them) and even websites on the game and the language itself. Business Buzzword Bingo by Karl Geiger’s generates bingo cards with the business buzzwords randomly distributed.
His site also includes a nice history of the game’s birth and rebirth.
10 Responses to “Project Management Buzz words and Clichés”. The actual compliance installation deadline for the original mandate was JANUARY 1, (12 Years From January 1, ).This was a county-wide process and the statutory requirements were state-wide.
Origin of the buzzword: It was first used as part of the software development methodologies usually based on incremental and iterative development, and who adopted the Agile Manifesto (). Since then the meaning expanded to incorporate all the areas of a business and the company itself.
Buzzword Bingo: 7 Lessons for Real Leadership When I worked for an administrator at my college, I had one boss who used so many buzzwords that my coworkers and I actually created secret buzz word Bingo cards for staff meetings. “UX is the intangible design of a strategy that brings us to a solution.” UX has become a neologism.
When something has “good UX” it is an implied meaning of having the core components of UX (research, maybe a persona, IA, interaction, interface, etc etc).