Contributions for the April Issue of The Best Practice Magazine
Submit your article about (IMP) Improving Performance - (PCM) Process Management, (PAD) Process Asset Development & (MPM) Managing Performance and Measurementfor next month's issue of The Demix Best Practice Magazine.
(MBR) Managing Business Resilience - (RSK) Risk and Opportunity Management, (IRP) Incident Resolution & Prevention, (CONT) Continuity
(MBR) Managing Business Resilience This CA addresses the ability to anticipate, prepare for, and respond to interruptions in order to continue operations. It involves identifying, evaluating, prioritizing, and handling risks. It ensures timely and effective resolution and prevention of interruptions to minimize the impact on business operations and ensures the best possible level of service quality. It addresses defining a minimum set of critical functions that must continue in the event of significant interruption of normal operations.
(RSK) Risk and Opportunity Management Intent Identify, record, analyze, and manage potential risks or opportunities.
Value Mitigate adverse impacts or capitalize on positive impacts to increase the likelihood of meeting objectives.
(IRP) Incident Resolution & Prevention Intent Resolve and prevent disruptions promptly to sustain service delivery levels.
Value Minimize the impact of disruptions to meet objectives and customer commitments more effectively.
(CONT) Continuity Intent Plan mitigation activities for significant disruptions to business operations so that work can continue or resume.
Value Enables continued operation when serious disruptions or catastrophic events occur.
The inherent cadence and iterative nature of Agile practices make them well suited for the management of a wide range of risk commonly encountered in product development and related projects.1 Indeed, the nature and pace of change in such undertakings present considerable challenges for traditional methods that presume well-defined and stable requirements, together with known risk, that can be captured and modelled using classic techniques. For example, the manner in which understanding of requirements evolves (e.g., facilitated workshops, Agile modelling), the explorative fashion in which designs are implemented (e.g., prototyping, architectural spikes) and the incremental delivery of solutions all help to tackle uncertainty and to promote desired outcomes. This is particularly true of highly innovative solutions where both the customer and the delivery team must collaboratively work together to iteratively define the scope and content of the final solution while tackling both upside and downside risk.
However, throughout Agile literature, there is also a pronounced tendency to focus exclusively on the downside of risk without considering opportunities that can be exploited. This is evident from the view, expressed in many methodologies, that risk should necessarily be considered as an exposure to potentially negative outcomes. Moreover, there is a prevailing view that merely being Agile suffices and that more explicit attention to the identification, assessment, treatment and monitoring of risk is, therefore, not warranted.
It’s been an interesting month for Home Group, one of the UK’s major housing associations. Home Group is responsible for renting homes to more than 116,000 people across 55,000 properties in England and Scotland. Just last month, the charity suffered a data breach involving customer names, addresses and contact information. The company informed affected customers and mitigated the breach in just 90 minutes — a feat only a vigorous cybersecurity program made possible.
When asked how typical risk management exercises are conducted, most project managers reply that this involves conversations and documentation around risk events and their respective probabilities and impacts.
While this is a necessary and beneficial exercise, this standard approach and mind-set does not account for taking time to recognize and focus on maximizing opportunities, and it often leads the team and project manager in the opposite direction.
Effective risk management should not be focused solely on recognizing possible failure points, but also on learning how to best recognize and capitalize on opportunities to ensure both project and future success.
Opportunity Management is about removing barriers to success and creating a path for yourself and your teams. Make sure you create time not only to identify and deal with risk, but also to recognize and capitalize on opportunities in your projects.
Chances are this change in perspective will enable you to see multiple opportunities that may not have arisen otherwise.
Enumerated here are six opportunities that nearly every project manager, regardless of discipline, can and should capitalize upon.
Thank you very much Steve for presenting at our info-sharing event on the 30th July 2020. Thank you also to all those who attended.
Whilst, BCM is a sub-set of the greater enterprise risk management discipline, the link between BCM and Risk Management is often not very well understood. This presentation focusses on BCM and how risk management integrates with BCM, provides objective value, and the ability to recover from setbacks, adapt well to change and keep going in the face of adversity.
In a nutshell, risk management together with BCM enables an organisation to optimise the level of risk being taken to best achieve the organisation’s objectives whilst still operating within the risk appetite of the organisation. Risk management is about preserving and enhancing value creation whilst minimizing the risks that lead to value erosion.
In this article, you will learn about Social Learning theory and the advantages and disadvantages of applying this learning technique in your organisation. You will also read examples of ways you can integrate social learning into the workplace to encourage and improve success in your learning environment.
Attention all Lead appraisers
Send us an email with the Subject: Appraisal Plan and we will send you the Demix Appraisal Plan.XLSX tool. It provides wonderful features to simplify your appraisal planning.