The Agile Principles

Agile Principles are a helpful set of guiding concepts that can assist project teams in implementing agile projects successfully. These principles can be used to implement agile methodologies in your projects. The principles include being flexible, working closely with customers throughout the project, ensuring that the final solution meets the business needs, and waiting until the last responsible moment to make decisions about the details. This information is sourced from the AgilePM Practitioner Course Version 15.1 2014.

Adaptive PM and Risk

Breaking the project into smaller parts is one of the implicit ways in which agile approaches manage operating risks. However, there are concerns about the potential conflict between integrating agile processes with standard organizational processes such as risk management, without compromising agility in a project. According to Nyfjord (2008), there is a need to explore ways of integrating agile development and risk management to ensure that the benefits of both approaches are realized.

The Need for a Systematic Approach

Managing risks is a crucial aspect of project management. It is important to adopt a consistent and systematic approach to risk management to ensure its success. The process chosen by the project manager is not as important as the consistency and systematic adoption of techniques and processes. The adoption of an integrated positive thinking, continuous and proactive approach, rigorous thinking, forward thinking, value adding process management approach, broad and balanced approach, responsible thinking, accountability for decision making, process-driven, transparent discussions, interdependent management, and effective communications are all necessary for effective risk management.

In addition to the above, good record-keeping and documentation are also critical to good risk management. Proper documentation helps to facilitate good communication, effective accountability, control, and provides a historical record or knowledge base. It also allocates responsibility and provides baseline data, which is essential for analyzing and mitigating future risks.

Different Processes Different Strengths

Risk management is a crucial aspect of project management, and there are several methods to approach it. Each method has its strengths and weaknesses that need to be evaluated before application. In the course of this program, we will primarily focus on the Australian standard as an organizational approach to risk management, and PMI PMBOK®Guides for a project perspective. However, it is important to note that other approaches to managing risks in projects are also valid. Still, there are some issues associated with using alternative methods. For instance, Hillson, D in the table below illustrated some of the deficiencies of alternative methods when managing risks in projects. The PMBOK®Guides may lack depth in some areas, such as taking action and capturing lessons learnt. On the other hand, the Australian standard is an organizational and technical approach that may not apply to the unique attributes of a project.

Therefore, it is essential to consider all methods' advantages and disadvantages before choosing the best approach for managing risks in a project.