Pragmatic Analytics for Managing Project Risks
ROR Stage: finalizing research approach, gathering and analyzing data
As a body of practice within the R&D community, we aim to significantly expand the application of risk analytics for new project management. Effective risk analysis allows senior management to make better informed decisions thereby gaining a competitive advantage. Risk analytics helps find patterns in data that hint at business threats or opportunities, allowing organizations to better plan for the future. This ROR project will accomplish these benefits by delivering a structured and pragmatic approach to applying risk analytics and communicating the results.
This is our ROR project team’s proposed approach: • Survey best practices both current and in literature; • Identify successful leadership and culture practices; • Lay out pragmatic project risk analytic techniques. • Methods may include ROR member roundtable, brainstorming methods, and structured interviews of leaders’ successes.
Together, we aim for tangible progress and a written RTM report in these areas:
• Documented best project risk analytic practices • Clear descriptions of supportive leadership practices • Examples of improved decision making through the application of risk analytics
We anticipate completing this activity by Winter 2015.
Team Members: Scott Mathews, Boeing; Robert Williams, Boeing; Alan Fusfeld, Fusfeld Group (SME); Phil Russell (SME)