I am currently listening to an audible book. The Journey to enterprise agility One of the topics that they have discussed is about managing risk and how listing all the risks and working out how to mitigate them has a cost in regards to the time it takes to investigate and work through them. The authors also mention that many of the risks that really sink a project or company are not the ones on these lists, they are the ones that no one has thought about.
Agile practices help us to limit the risk through running small iterations to test our hypothesis. We are best to look at the big picture and list high level risks and then work out what small steps can be made to safe guard against it. Another good practice is to advocate for your quiet or not represented stakeholders think about what their opinion / view is, what concerns they would have. It is these extreme outliers that can greatly impact our risk probabilities. By completing personas for your stakeholders and keeping these visual, you can help the team think about those odd situations that might occur and sink the project.
Or thinking about risk in regards to being able to deliver when you say you will on a mini project, The next task you action might be huge in comparison to all the other tasks that you have mapped out and have been working on and throw out your timeline completely. So in Risk Management understand that these little unknown risks can completely throw your plan out the window. Inspect and adapt and most importantly be transparent with your stakeholders about these changes and adjust your project wall to show these big things, be transparent. Take that big item and run a spike to research more information on a risky assumption.
The Review session at the end of each iteration or stage also helps to minimize risk. It allows your stakeholders to give their feedback and keep you on track, be willing to share your work in progress and rough work so that you can collaboration between stakeholders. By them being part of the work and decisions you gain them as a supporter of the work and their buy in will help to ensure success.
Co location and cross functional teams mean people are working together and learning off each other so that if someone does what I did a few years back and injures themselves and needs to be off work for 6 weeks, the project can continue as the rest of the team know what is required to be done and have the skills to complete the work.
“Reexamine your perceptions of risks and what they are. – Risk are outcomes of a situation where we can calculate the probability of it happening.
Uncertainty is where we don’t know enough about the situation to understand the odds. ” Daryl Kulak and Dr Hong Li