2. Project Management is the art of creating illusion that
any outcome is the result of a series of predetermined,
deliberate acts when, in fact, it was dumb luck.
-Harold Kerzner
4. Dynamic Project Management – Funnel Plan
Application of Risk Management and change management along
with the traditional standard Project management approach.
5. Barriers to Dynamic Project Management
Misconceptions about Risk Management.
Difficulty in anticipating the future.
Scared to be transparent.
Reluctance to embrace changes.
7. 1. Risks are threat to the projects.
Common Misconceptions about Project Risks
8. Risk is an uncertain event or condition that, if occurs, has a positive or
negative effect on a project objective.
Cheese Chase
“CHASE CHEESE WITH CAUTION”
9. 2. Issues & Constraints are Risks
Common Misconceptions about Project Risks
10. Iceberg
“Risk Management helps to Sail through the icebergs smoothly ”
• Issues are known facts and are not risks.
• Issues are the un-resolved risks.
• Frequent occurrence of issues is an
indication of underlying Risks.
• Constraints are imposed limitations.
• Constraints compel us to be creative.
11. 3. Risks occur without warning
Common Misconceptions about Project Risks
12. • There is no smoke
without fire
Smoke & Fire
• Look for the Signs • Don’t let your
Titanic sink
13. 4. All Risks should be mitigated.
Common Misconceptions about Project Risks
14. • Negative Risks (or Threats)
• Avoid
• Transfer
• Mitigate
• Acceptance
• Positive Risks (or Opportunities)
• Exploit
• Share
• Enhance
• Acceptance
Spider’s Web
“When Spider webs unite they can tie up a lion.”
- African Proverb
15. “A PERSON WHO CAN FORESEE PROBLEMS/DIFFICULTIES AND IDENTIFY
PROACTIVE SOLUTIONS WILL LIVE HAPPILY”
- Chanakya , Author of Artha Shastra
16. • Patterns are everywhere, train yourself to Identify Patterns
• Patterns and best known tool to anticipate future.
• Beware of:
Black swan
Hallucination effect
Patterns of Things (POT)
17. TIME
• Past is factual and known. Future is unknown & uncertain.
• Speculating future events based on knowledge of past.
“While large organisations need foresight, they are also notorious in their bias for
short term thinking, sometimes rejecting or even suppressing foresight.”
- Tom Graves
18. Each knows the partial truth but all are wrong as whole
Whole cannot be known just by knowing the elements of the whole.
Individuals have strong opinions about their belief’s.
Many experience or read about an aspect or element of project
management and think they know it all.
Elephant in the Room
“ALL OF US ARE SMARTER THAN ANY OF US”
19. Let us Talk
Understand and eliminate the communication Barriers.
Communicating about risk reduces it’s chances of occurrence.
Risk communication should be part of your project communication plan.
Share regular update of project risks with all the stakeholders as a part of
project status report.
… It is much easier to cover up the problem than it is to identify & fix them.
- Amy summers.
20. Changes cause Risk, but changes are also required to manage Risk.
21. Rational & Not So Rational Mind
Emotional Decisions
• Decision taken out of Fear
• Decisions influenced by reward
• Ego’s
Biased Decisions
• Alpha Male
• Follow the herd
• Confirmatory Bias
• Present Bias
Rational Decisions?
• Intuitive & Fast
• Logical but slow
22. Sutras for Dynamic Project Management
• Proactive, transparent & integrated Risk management yields
better results.
• Anticipate, prepare and always look at the positive side of
the future.
• Embrace Change for the benefit of end user of the project
deliverables
23. Benefits of Dynamic Project Management
• Helps in developing more realistic plan
• Reduces crisis management.
• Encourages proactive risk management
• Provides a rational basis for better decision making.
