🚧Project Management: Risk (Just the Quotes)

"But the greater the primary risk, the safer and more careful your secondary assumptions must be. A project is only as sound as its weakest assumption, or its largest uncertainty." (Robert Heller, "The Naked Manager: Games Executives Play", 1972)

"Today, most project management practitioners focus on planning failure. If this aspect of the project can be compressed, or even eliminated, then the magnitude of the actual failure, should it occur, would be diminished. A good project management methodology helps to reduce planning failure. Today, we believe that planning failure, when it occurs, is due in large part to the project manager’s inability to perform effective risk management." (Harold Kerzner, "Strategic Planning for Project Management using a Project Management Maturity Model", 2001)

"Risks and benefits always go hand in hand. The reason that a project is full of risk is that it leads you into uncharted waters. It stretches your capability, which means that if you pull it off successfully, it's going to drive your competition batty. The ultimate coup is to stretch your own capability to a point beyond the competition's ability to respond. This is what gives you competitive advantage and helps you build a distinct brand in the market." (Tom DeMarco & Timothy Lister, "Waltzing with Bears: Managing Risk on Software Projects", 2003)

"The business of believing only what you have a right to believe is called risk management." (Tom DeMarco & Timothy Lister, "Waltzing with Bears: Managing Risk on Software Projects", 2003)

"In project management there are two levels of opportunities and risks. Because a project is the pursuit of an opportunity, the first category, the macro opportunity, is the project opportunity itself. The approach to achieving the project opportunity and the mitigation of associated project-level risks are structured into the strategy and tactics of the project cycle, the selected decision gates, the teaming arrangements, key personnel selected, and so on. The second level encompasses the tactical opportunities and risks within the project that become apparent at lower levels of decomposition and as project cycle phases are planned and executed. This can include emerging, unproven technology; incremental and evolutionary methods that promise high returns; and the temptation to circumvent proven practices in order to deliver better, faster, and cheaper." (Kevin Forsberg et al, "Visualizing Project Management: Models and frameworks for mastering complex systems" 3rd Ed., 2005)

"Opportunities and risks are endemic to the project environment. However well planned a project may be, there will always be residual project risk." (Kevin Forsberg et al, "Visualizing Project Management: Models and frameworks for mastering complex systems" 3rd Ed., 2005)

"When we pursue opportunity, we normally incur risk. The opportunity to experience the thrill of an exciting sport like hang gliding or scuba diving brings with it the attendant risks. Many people instinctively make the trade that the thrill is worth the risks. Others decline." (Kevin Forsberg et al, "Visualizing Project Management: Models and frameworks for mastering complex systems" 3rd Ed., 2005)

"For most projects there will be many sources of risk. Assumptions that seem quite reasonable at the start of a project may be proven otherwise if and when conditions in internal or external environments change during the project duration." (Roger Jones & Neil Murra, "Change, Strategy and Projects at Work", 2008)

"Routine tasks are, by their nature, familiar to us. The outcomes of performing routine tasks are therefore usually highly predictable. Project work by contrast includes elements of risk and uncertainty associated with the uniqueness and unfamiliarity of some of the work or the context in which it is carried out. Murphy’s Law expresses a ‘tongue-in-cheek’ but fallacious certainty of things going wrong, if it is possible for them to go wrong." (Roger Jones & Neil Murra, "Change, Strategy and Projects at Work", 2008)

"Whilst culture can help create a sense of belonging and shared destiny, it can also prove to be an obstacle to change especially where the existing culture is risk averse or if the change strategy is perceived by some to challenge prevailing group values. Where radical change is proposed, the achievement of cultural change may actually be a major objective of the proposed change." (Roger Jones & Neil Murra, "Change, Strategy and Projects at Work", 2008)

"A project is usually considered a failure if it is late, is over budget, or does not meet the customer’s expectations. Without the control that project management provides, a project is more likely to have problems with one of these areas. A problem with only one constraint (scope, schedule, cost, resources, quality, and risk) can jeopardize the entire project." (Sandra F Rowe, "Project Management for Small Projects" 3rd Ed., 2020)