Zero-risk bias
John Robert
Global PMO Leader | Driving Innovation & Excellence | Top 6 PMO Leader 2023 | Trainer, Author & Speaker
Zero risk bias relates to our preference for absolute certainty in projects. We tend to opt for alternatives or situations that completely eliminate the risk. We choose paths that lead to 100% success in projects. “On time, in full and within budget” - does this sound familiar?
This is the very reason why buffers are added in projects to increase the probability of success that bloats up the commitment dates in the initial iteration.
Why does this happen: Sponsors need absolute certainty in delivery, the customer wants the products and services to be delivered as promised. Project management organizations are measured by their success rate in terms of time, cost and scope.
If you have operations people leading projects, Many times people relate projects as if it is operations. e-FTR - “The right first time and every time” is the possibility in operation, not in projects.?
How to overcome this: Three options one could consider:
If one has zero-tolerance for failure, they may need to consider not doing projects at all! The project itself is a risky endeavor, complete elimination of the risk can happen only when the entire project is not done.
#Pharmaceutical Project Management, Quality Management System, Pharmaceutical Process Excellence
3 年Pt-2 & 3 are the only exciting part and the Practical way of Project Management. And this approach in the journey of Project MGT, Risk Mitigation brings in great Learning..in Process and Implementation. It is very important to maintain the cool by process rather then remaining heated with adrenaline rush with self & with team..
Senior Project Manager at Andersen Pharma Poland SP Zoo
3 年Good insight. Very true in practical sense. Impact can be reduced by changing all together a new way of seeing the same object, but can not be avoided 100%. Similarly, probability can be reduced but can not be made completely 0%. In a way, project are done for creating or developing a new. New comes with it's own benefits and risks. Also, nothing is so easy in life meaning with out risk. Otherwise, everyone would have made and become billionaire. But yes, risk should be well titrated looking at what one can tolerate in terms of time, cost, and even brand/ market status.. Thanks sir
Leadership Coach| IT Project Management Consultant | Soft Skills Trainer & DISC Consultant | Writer | CEO of The Virtual PM
3 年You are so correct! Stakeholders often seek certainty of success. Risk acknowledgement, assessment and mitigation are all key to ensuring project success.
PMP? Project Manager at Novartis
3 年Yes, it is more exciting only when we accept the risk and get ready ..??