Risk-taking

The Risk-Taker CIO Paradox

Leadership requires taking risks. But technology must work reliably. How do IT leaders square these two realities?

CIOs are driving organizational strategies now more than ever. The more a CIO’s success is tied to business outcomes, the more risk they assume. Traditionally, CIOs have been responsible for KPIs like uptime and system availability to support internal productivity and operational efficiency. But suddenly—now that all industries are becoming digital—there is much more at stake.

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PM Pointers: Managing a Team Member with a Personal Agenda

Part 4 in our 5-part Managing Needy Team Members series.

As project managers, we often run into team members that require a great deal of attention. In an opening post for this series, we discussed a general approach to dealing with resources that need TLC. This post offers techniques for getting the most output out of folks who see the project as a way to achieve a personal agenda. In one way or another, these team members have no interest in doing what is best for the team, but rather what is best for themselves.

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man losing it at his desk

PM Pointers: Managing a Team Member with Personal Issues

Part 3 in our 5-part Managing Needy Team Members series.

As project managers, we often run into team members that require a great deal of attention. In an opening post for this series, we discussed a general approach to dealing with resources that need TLC. This post offers techniques for getting the most output out of folks who have personal circumstances that are objectively more critical to them than work.

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PM Pointers: Managing a Team Member Who is Coasting

Part 2 in our 5-part Managing Needy Team Members series.

As project managers, we often run into team members who require a great deal of attention. In an opening post for this series, we discussed a general approach to dealing with resources that need TLC. This post offers techniques for getting the most output from folks who lost interest in work because they expect to exit soon.

Coasters Need TLC, Too

Some project team members know their days of working for the company are counted. Some are coasting towards retirement. Some know their jobs will likely go away when the project is complete. Typically, they just stop trying. Without emotional buy-in, these team members are often more harmful than they are helpful.

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PM Pointers: A “Needy” Team Member Is a Project Risk

A solely results-oriented project manager (PM) sees every project as a personal opportunity to achieve success. On the other hand, some PMs see a project as a series of process steps where their individual role is simply to check boxes.

Neither of these approaches is effective.

To be a great PM, one needs an array of leadership skills. The most critical leadership skill required from project managers is genuine care about the project team members. If you genuinely care about individual contributors you can achieve extraordinary results.

TLC is a natural part of caring about people. Although some team members need more TLC than others.

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Shining a Light on Shadow IT

Too often, Shadow IT systems—those not authorized by IT—are used by the business to perform work. Here are a few common examples:

  • A cloud storage system (such as SharePoint) may be authorized and managed by IT, but employees may use external cloud applications (such as Dropbox or Google Drive) when working with external vendors.
  • A collaboration tool (such as Slack or Basecamp) may contain important information and documentation that are effectively invisible to the IT portfolio.
  • Vast spreadsheets may exist across disparate programs, requiring manual reconciliation and long email chains for even the most minor changes.

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5 Risk Tolerance Considerations for Project Managers

How Much Risk You Are Willing to Tolerate?

Every project manager deals with risk assessment and risk management. If done right, the project manager will ensure the overall project plan includes a risk management plan early in the project. The risk management plan is typically guided by the risk attitude of the project stakeholders, which is determined by their risk appetite, risk tolerance, and risk threshold.

The PMBOK Guide offers detailed definitions and guidance for each of these factors. For this discussion, we will use simplified descriptions:

Risk appetite is the level of risk that an organization is willing to accept to reach its goals and objectives. Risk appetite is typically culturally determined within the organization.

Risk tolerance tells you how sensitive the organization or the project stakeholders are to risks, their willingness to accept or avoid risk. Risk tolerance is variable, if not fluid, from person to person.

Risk threshold is the level of impact, typically a clear figure, beyond which the organization will no longer tolerate the risk. Risk threshold is a negotiated or determined quantified limit.

Project stakeholders are hardly ever asked what their individual tolerance level is. They agree on the risk management plan, but transfer their trust and expectations to the project manager. Stakeholders may understand the risk, but they may not fully grasp what acceptance of the risk means in practice.

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