Quotes & Sayings About Project Risk

Even when the corporate risk tolerance is low it is still possible to take some working interest in a risky project. Clearly, zero working interest is the lower limit and 100% working interest is the high limit. Somewhere between these two extremes there must be an optimum working interest to take which depends on both the parameters of the project (success probability, estimated gains, and estimated costs) and on the corporate risk tolerance. — Ian Lerche

According to the comprehensive Global Burden of Disease project, the leading risk factors for ill health and premature death are linked to lifestyle, what we eat and drink and how much we exercise. Disease prevention does not occur in the hospital. We need the whole of society to be involved. — Jonas Gahr Store

If you've been in the software business for any time at all, you
know that there are certain common problems that plague one
project after another. Missed schedules and creeping requirements
are not things that just happen to you once and then go
away, never to appear again. Rather, they are part of the territory.
We all know that. What's odd is that we don't plan our projects
as if we knew it. Instead, we plan as if our past problems are
locked in the past and will never rear their ugly heads again. Of
course, you know that isn't a reasonable expectation. — Tom DeMarco

The real risk is that we will fall into depression and despair; the danger is that we will lose hope in the human project. It is this kind of despondency that art is uniquely well suited to correct. Flowers in spring, blue skies, children running on the beach ... these are the visual symbols of hope. — Alain De Botton

Also, the technologically high-risk Apollo aerospace programme is considered a classic success story of megaproject planning and implementation. The cost overrun on this US$21 billion project was only 5 per cent. Few know, however, that the original budget estimate included US$8 billion of contingencies.18 By allowing for risk with foresight, the programme avoided ending up in the type of large cost overrun that destabilises many major projects during implementation. The Apollo approach, with its realistic view of risks, costs and contingencies, should be adopted in more major projects. — Bent Flyvbjerg

I think people thought I was crazy for leaving Mexico when I had any project I wanted falling at my feet. But I risked everything to come to Los Angeles, where no one knew who I was, and start all over again. It was a very hard step to take. However, it was the moment I thought it was right to take a risk in my career. — Karla Souza

Every project for me is a risk that I bet on. I believe my senses, and hopefully it will be successful. But sometimes you make it, and sometimes you fail. — Stephen Chow

Steering between the Scylla of too much and the Charybdis of not-enough, he'd worked hard to project a retiring asexuality. As far as his coworkers knew, he lived with only his books for company. Still, he relished her name in his mouth. "Regan. — Garth Risk Hallberg

The Standish Group is an Information Technology organization that assesses risk, cost, return, and value of software projects. Since 1994, they have published the Chaos report that studies software failures and successes. The latest Chaos report recommends agile processes as one of the ten project success factors. (The Standish Group International Inc. 2012) — Gloria J. Miller

Interestingly, Agile's scrum-team approach has its own way of aggregating some execution risk. For example, in a traditional "single task owner" approach, the risk of execution is not aggregated at all, leaving that task owner to add a lot of task-level buffer to self-insure and deliver on his commitment. In contrast, a 5-person scrum team aggregates the risk that any single individual will make slow progress, as the other four team members can often make up the deficit.

But why aggregate only up to the scrum-team level? Taking a lesson from the insurance industry, the more that risk can be aggregated, the easier it is to manage. Applied to projects, this will nearly always mean that it's better to aggregate risk at the project level. As a result, an Agile project can improve speed by avoiding sprint-level commitments. — Michael Hannan

1. Project What is the project? Why is it unique? Why is the business needed? Why will customers love your product? 2. Partners Who are you? Who are the partners? What are your educational backgrounds? How much experience do you all have? How are you and your partners qualified to make the project a success? 3. Financing What is the total cost of the project? How much debt and how much equity is there? Are partners investing their own money? What is the investor's return and reward for their risk? What are the tax consequences? Who is your CFO or accounting firm? Who is responsible for investor communications? What is the investor's exit? 4. Management Who is running your company? What is their experience? What is their track record? Have they ever failed? How does their experience relate to your industry? Do you believe this is the strongest management team you can assemble? Can you pitch them with confidence? — Donald J. Trump

I wanted to project myself forward to age 80 and say, 'OK, I'm looking back on my life. I want to minimise the number of regrets I have.' And I knew that when I was 80, I was not going to regret having tried this. I was not going to regret trying to participate in this thing called the Internet that I thought was going to be a really big deal. I knew that if I failed, I wouldn't regret that. But I knew the one thing I might regret is not ever having tried. I knew that that would haunt me every day. — Jeff Bezos

The student who elects to risk it all - which is nothing - to establish an online video rental service that delivers $5,000 per month in income from a small niche of Blu-ray aficionados, a two-hour-per-week side project that allows him to work full-time as an animal rights lobbyist. — Timothy Ferriss

We don't take on Google Glass or the self-driving car project or Project Loon unless we think that on a risk-adjusted basis, it's worth Google's money to do it. — Astro Teller

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

Many of the high-return projects are high risk, which is why I suggest you forget the idea of looking at risk at all. Manage the risk by using an incremental or, even better, agile approach to the project. Start with your organization's context of what moves the organization ahead instead of risk. — Anonymous

An LDL around 70 mg/dL corresponds to a total cholesterol reading of about 150, the level below which no deaths from coronary heart disease were reported in the famous Framingham Heart Study, a generations-long project to identify risk factors for heart disease.29 — Michael Greger

A study of project and risk management in software projects in the public sector found that an informal partnership between the project's business owner and the project manager was seen by the latter as providing more effective project proprietorship and governance than the project steering committee [1]. This suggests that the application of governance may be more important than its form. This paper, however, focuses only on formal and explicit governance — Anonymous

SMaC recipe is a set of durable operating practices that create a replicable and consistent success formula. The word "SMaC" stands for Specific, Methodical, and Consistent. You can use the term "SMaC" as a descriptor in any number of ways: as an adjective ("Let's build a SMaC system"), as a noun ("SMaC lowers risk"), and as a verb ("Let's SMaC this project"). A solid SMaC recipe is the operating code for turning strategic concepts into reality, a set of practices more enduring than mere tactics. Tactics change from situation to situation, whereas SMaC practices can last for decades and apply across a wide range of circumstances. — James C. Collins

The risk is that you furnish the project with new suggestions to try and freshen it up; it's not always beneficial. You risk betraying the original intention with the story, forgetting what it is you really want to portray. — Lars Von Trier

One of the responsibilities faced by the Environmental Genome Project is to provide the science base upon which society can make better informed risk management decisions. — Samuel Wilson

The risk presented by these lethal wastes is like no other risk, and we should not be expected to accept it or to project it into the future in order for manufacturers and utilities to make a dollar killing now. — David R. Brower

I have been in relatively high-risk businesses all of my adult life. Few of the others, however, had the possibility of direct gains in knowledge which this one had. I have confidence in the equipment, the planning, the training. I suspect that on a risk-gain ratio, this project would compare very, very favorably with those to which I've been accustomed on the past 20 years. — Neil Armstrong

I am very conservative. I don't invest in anything that is risky. If someone comes to me with a project idea, I let them risk their money, not mine. — Claudia Schiffer

A life lesson for me is, how do you muster the courage to take on a new risk? Whether it's starting up a business or taking on a new project or expedition. I think the risks that we take are all relative to the risk-taker. — Ann Bancroft

Soccer's appeal lay in its opposition to the other popular sports. For children of the sixties, there was something abhorrent about enrolling kids in American football, a game where violence wasn't just incidental but inherent. They didn't want to teach the acceptability of violence, let alone subject their precious children to the risk of physical maiming. Baseball, where each batter must stand center stage four or five times a game, entailed too many stressful, potentially ego-deflating encounters. Basketball, before Larry Bird's prime, still had the taint of the ghetto.
But soccer represented something very different. It was a tabula rasa, a sport onto which a generation of parents could project their values. Quickly, soccer came to represent the fundamental tenets of yuppie parenting, the spirit of Sesame Street and Dr. Benjamin Spock. — Franklin Foer

The federal government's role is to establish a process whereby industry can pitch a project, and Canadians can be reassured that this project is worth the risk. That's at the heart of governments granting permits and communities granting permission. People understand we do need economic growth. We do need natural resource projects. — Justin Trudeau

This Is a Manifesto About Starting Starting a project, making a ruckus, taking what feels like a risk. Not just "I'm starting to think about it," or "We're going to meet on this," or even "I filed a patent application. . . ." No, starting. Going beyond the point of no return. Leaping. Committing. Making something happen. — Seth Godin

Reagan's failure to become a truly great movie star has been ascribed to project menace, sexuality, or even moral ambiguity. — Scott Farris

There was a second problem that was still not a technical problem ... the project became classified. I couldn't work on it after having gone to all that trouble. I was considered a security risk, so I could not get a clearance. — Gordon Gould

I found the concept of hindsight bias fascinating, and incredibly important to management. One of the toughest problems a CEO faces is convincing managers that they should take on risky projects if the expected gains are high enough. Their managers worry, for good reason, that if the project works out badly, the manager who championed the project will be blamed whether or not the decision was a good one at the time. Hindsight bias greatly exacerbates this problem, because the CEO will wrongly think that whatever was the cause of the failure, it should have been anticipated in advance. And, with the benefit of hindsight, he always knew this project was a poor risk. What makes the bias particularly pernicious is that we all recognize this bias in others but not in ourselves. — Richard H. Thaler