Contributions for August Issue of The Best Practice Magazine:
CMMI Articles/Presentations - IPM/RSKM
*Integrated Project Management/Risk Management
Definition of - IPM/RSKM
*Integrated Project Management/Risk Management
Integrated Project Management (IPM) (CMMI-DEV) Summary The purpose of Integrated Project Management (IPM) (CMMI-DEV) is to establish and manage the project and the involvement of relevant stakeholders according to an integrated and defined process that is tailored from the organization’s set of standard processes.
Risk Management (RSKM) (CMMI-DEV) Summary The purpose of Risk Management (RSKM) (CMMI-DEV) is to identify potential problems before they occur so that risk handling activities can be planned and invoked as needed across the life of the product or project to mitigate adverse impacts on achieving objectives.
The uncertain economic times of the past few years have had a major effect on how companies operate these days. Companies that used to operate smoothly with the help of forecasts and projections now refrain from making business judgements that are set in stone. Now, companies have a renewed focus: to manage risk.
Risk is the main cause of uncertainty in any organisation. Thus, companies increasingly focus more on identifying risks and managing them before they even affect the business. The ability to manage risk will help companies act more confidently on future business decisions. Their knowledge of the risks they are facing will give them various options on how to deal with potential problems.
This post was originally published on February 26, 2016 and was updated with new information on August 30, 2017.
Integrated project management (IPM) is a ubiquitous term in project management literature. You’ve likely come across it dozens of times in your career as a project manager.
It is a weighty term; the IPM approach impacts much of what we think of when we think of project management. Yet, despite its ubiquity, integrated project management is seldom well understood. You might have a general idea of its implications and core tenets, but the details escape you. Like so many concepts in the creative world, it can be downright difficult to separate the multitudinous ideas that get bandied about daily.
So really, what does IPM actually mean? In this article, I’ll give you a clearer definition of integrated project management. I’ll share the core concepts and help you adopt IPM practices in your work.
Tavares, Breno. (2017). Risk Management in Scrum Projects: A Bibliometric Study. Journal of Communications Software and Systems. 13. 1. 10.24138/jcomss.v13i1.241. This article presents a bibliometric study of Risk Management in Scrum Projects. It was carried out an analysis involving the ISI Web of Knowledge and Scopus databases, identifying the main authors, countries and periodicals. It also identified the most cited authors by the analyzed articles, in addition to the keywords most frequently cited. These analyzes were performed using the reference maps, which were generated by CiteSpace® software, which offers a set of features to support bibliometrics. The objective was to identify the current scenario research of Risk Management applied in Scrum Projects in order to offer a consistent basis of information to researchers. The research verified that, despite the importance of the research topic, few scientific studies have been identified, which brings the need for new researches on the subject.
Risk management is a central part of traditional project management and is included as one of the knowledge areas in the Project Management Institute’s (PMI) body of knowledge. In many of my classes, participants ask how Scrum and agile address risk management. Some are concerned that agile or Scrum ignore risk management completely. Let’s see why this is the case. First, a great deal of explicit risk management becomes unnecessary when a project uses an agile approach. The short iterations, single-minded focus on working software, heavy emphasis on automated tests, and frequent customer deliveries help teams avoid the biggest risk most projects face—that of eventually delivering nothing. So, it is not surprising that many agile projects forgo any form of explicit risk management. To put it in risk management terms, for these projects the likely savings from explicitly managing risks is outweighed by the cost of explicitly managing risk.
Today, most organizations continue to rely on a traditional approach to risk management. Such an approach is built on stovepipe-oriented risk management, in which the focus is mainly on the tactical business issues and does not consider strategic sources of risk.1 This traditional approach to risk management does not adequately identify, evaluate and manage risk; tends to be fragmented, treating risk as disparate and compartmentalized; limits the focus to managing uncertainties around physical and financial assets; focuses largely on loss prevention, rather than adding value; tends to use linear and sequential process thinking; tends to be highly disaggregated from managing a firm’s risk; and is not holistic.2 Moving to an enterprise risk management (ERM) program is practical, but the level of maturity in adopting ERM is different from one organization to another. Although ERM overcomes many of the limitations of traditional risk management models, it brings its own limitations and challenges.
Many financial institutions share a drive to lower costs, reduce cycle time and offer a diverse product mix as they pursue higher profits and an increased market share in a growing financial environment. Consumers, those paying for the end product, want products or services that are cheaper, readily available and of a quality that meets their expectations.
Applying AI and machine learning in the aviation safety domain can lead to better decisions and continuous performance improvement.
What if the aviation industry could identify and address safety risks before they occur? During the last 20 years, information sharing and collaboration between pilots, controllers, manufacturers, and maintenance personnel has led to major improvements in aviation safety. As the quantity of shared data has increased, artificial intelligence (AI) concepts and machine learning techniques needed to be introduced into complex, data-driven models to predict actions, recognize patterns, and uncover hidden insights.
Two forms of Health Check are offered the Silver Appraisal (SCAMPI B) and Gold Appraisal (SCAMPI A).
Both are led by a Certified CMMI® Lead Appraiser supported by trained Appraisal Team Members.
The primary difference between the two types of Health Check is the level of rigor and the fact that the SCAMPI A Appraisal can provide a Capability Level for each of the PMO Process Area in scope, the results can also be published on the CMMI® Institute PARS Site (Published Appraisal Results) if required.
The key deliverable being a report highlighting strengths and opportunities for improvement. This can optionally be expanded into a comprehensive PMO Improvement Plan the implementation of which can be supported by DEMIX Consultants if required.
If your PMO is not adding the value you expected then perform a DEMIX PMO Health Check to find out why!
To find out more or register interest contact Stephen Woods via the email below: