How to Do Risk Management in Agile Projects

Some people might expect that agile projects have – or even need – no risk management. That is completely wrong. So, let's look at how to do risk management in agile projects.
We need to adapt our risk management approach to the nature of our project. especially to the:
• level of risk
• risk attitude of your customer, client, users, or sponsor
• culture of the sponsoring organization
After all, all project management is hybrid project management!
The basic process is the same, in agile projects. We typically apply that process at 2 levels:
1. Level 1: The Project level
…an over-arching Risk Management framework
2. Level 2: The Iteration, or sprint, level
… a process that happens at each iteration
The essence of the process is:
• Identify
• Analyze (and prioritize)
• Plan risk responses
• Take action
• Monitor & Control RM progress
But, in addition, there are elements of risk management that differ:
- The adaptability of agile projects is a response to the uncertainty of the end product. Each iteration bites off a small chunk and thus limits risk.
- We follow the whole risk lifecycle at each sprint or iteration. This increases the focus on risk.
- The use of a backlog is a risk management approach.
- The Sprint Reviews and Sprint Retrospectives of Scrum allow constant improvement.
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1. mPlaza
Exam prep for Scrum Master PSM I: https://bit.ly/MP-PSM1
Exam prep for Product Owner PSPO I: https://bit.ly/MP-PSPO1
Exam prep for Scrum + Kanban PSK: https://bit.ly/MP-PSK
Study for EXIN Agile Scrum Foundation: https://bit.ly/MP-ASF
Study for APMG Agile PM Foundation: https://bit.ly/MP-APMF
2. GreyCampus
Study for EXIN Agile Scrum Master (ASM): https://shrsl.com/2xw97
Study for Scrum Alliance Certified Scrum Master (CSM): https://shrsl.com/2xw9k
These links are affiliated.
I have reviewed courses from all these providers and can recommend them. The provider will pay me a small commission if you buy through these links that will help support the free content I make for this channel.
Recommended Videos
Carefully curated video recommendations for you:
Project Risk Management - How to Manage Project Risk
https://youtu.be/xXV_gjtXMSk
How to Create a Risk Management Plan
https://youtu.be/9MAHX2Wv8pk
What to Put in Your Risk Register (Risk Log)
https://youtu.be/vkEPGFVVwfM
What is Agile Project Management?
https://youtu.be/D5FoRXGa8ic
Waterfall vs Agile: The Big Principle at Stake
https://youtu.be/we1PJ7OY3PY
How to do a Basic Agile Project
https://youtu.be/6PqmHhJFXp4
A while back, I asked Project Managers in a couple of forums what material things you need to have, to do your job as a Project Manager. They responded magnificently. I compiled their answers into a Kit list.
https://kit.co/MikeClayton/what-a-project-manager-needs
Note that the links are affiliated.
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Chapter Markers.
00:00 - Risk Management in Agile Projects
00:42 - Adaptation
01:40 - The main difference
02:02 - 2 levels of risk management in agile projects
02:43 - The basic risk management process
03:49 - Ways risk management differs in agile project management
07:17 - Problems of agile working for risk management
08:33 - Benefits of agile working for risk management
09:52 - All project management is hybrid project management
#Agile #ProjectManagement #RiskManagement