How is risk mitigated in Programs and Portfolios? While some risks are specifically related to individual projects, others may originate in programs or portfolios and will generally be managed there itself. However, risks related to a portfolio or program will also impact projects that are part of the respective portfolio or program. During risk assessment…
How does Scrum strike a balance between flexibility and stability? Today almost all industries and markets are exposed to constant changes. Changes come in the form of government policies, new tax rules, everyday advance in technology, consumer psyche, product or service demand, media influence, social media trend, buying motivation and many more. Whatever the reason,…
How does Scrum deal with risks? Being an Agile, iterative process, the Scrum framework inherently minimizes risk. The following Scrum practices facilitate the effective management of risk: 1. Flexibility reduces business-environment-related risk Risk is largely minimized in Scrum due to the flexibility in adding or modifying requirements at any time in the project lifecycle. This…
The Prioritized Product Backlog is a single requirements document that defines the project scope by providing a prioritized list of features of the product or service to be delivered by the project. The required features are described in the form of User Stories. User Stories are specific requirements outlined by various stakeholders as they pertain…
How can risk be managed? Risk Management consists of five steps: 1. Risk identification: Using various techniques to identify all potential risks 2. Risk assessment: Evaluating and estimating the identified risks 3. Risk prioritization – Prioritizing Risk to be included for specific action in the Prioritized Product Backlog 4. Risk mitigation: Developing an appropriate strategy…
