3 Agile Approaches to Managing Project Portfolio Risks [#AgileApproaches #PortfolioRisks #RiskManagement]

3 Agile Approaches to Managing Project Portfolio Risks [#AgileApproaches #PortfolioRisks #RiskManagement]

1. Move from Project to Product Management
2. Employ visual management across the portfolio
3. Stop using quality gates. Use feedback loops.

1. Move from Project to Product Management
Project-centric risk management only provides for a short-term risk lens. Projects also tend to happen in business-unit silos. They compete for resources and only contribute to isolated metrics.

Product-centric organisations have an end-to-end risk management profile for the entire value stream that encompasses discovery, definition and development, the product’s use, its customers, and the market.

2. Employ visual management across the portfolio
It’s easier to manage something when you can see it.

Most organizations lock away their risk management in software tools that lie forgotten after an initial assessment is done.

As products move from their stages of financial assessment through to executive consideration and then development, visualize the flow of each step using Kanban.

For each major step in the value stream, make transparent the governance and key decisions that will create the basis of progression criteria.

In each criteria, be explicit about the risk considerations that need to be given before an initiative can proceed – whether component, structural or overall risks.

3. Stop using quality gates. Use feedback loops.
Inspections are costly and unreliable and they do not improve quality or reduce risk, they merely find a lack of quality.

What follows are actions to mitigate the risk that rarely involve steps to rapidly build quality back into the process.

Do not just find what you did wrong – eliminate the “wrongs” altogether and use statistical control methods – not physical inspections alone – to prove that the process is working and your improvements are effective.

Agile Management Consulting Expert, Zen Ex Machina, Share the Top 3 Agile Approaches To Managing Project Portfolio Risks
PRNewswire

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