PRINCE2 Agile - Risk theme Flashcards
How should risk be handled in PRINCE2 Agile?
Risk is less important than other themes in P2A (e.g. planning, progress). Small-scale risks are handled in an informal setting such as in a stand-up, whilst larger-scale risks are handled more implicitly.
There are risks in using Agile, risks in implementing Agile (use the Agilometer), and risks to the project.
Despite that, it is essential for someone to actively capture and monitor risks.
What is one benefit of Agile compared to other PM methodologies?
Agile by its nature poses less risks than other PM methodologies . For example, the risk of the market shifting or of building the wrong thing is mitigated in Agile.
What is are the risks in using Agile?
If risks are discussed openly in stand-ups, there may be no owner of it, so no one to carefully track. In a mature Agile environment, each risk is assigned a Risk Owner. PRINCE2 specifies careful and documented ownership of risks, so alleviates this. The TM manages team risks and the PM manages project risks. This should still stand, but there should be more communication and shared ownership.
Single biggest risk is not delivering what the customer wants.
The customer may not be engaged.
Team and/or stakeholder may be split across multiple locations.
Value is delivered before it is planned.
How can risk management be tailored to the project?
Agile does not specify how to manage risk and it should be tailored to the project.
The level of formality of risk management should be adjusted according to the project. It may be sufficient to discuss risks in daily stand-ups. In some cases. a risk register may be needed (though it is not mandatory in PRINCE2 Agile). When lots of formality is needed for Project Governance, a full RMA can be laid out. It should be suited to the needs of the project.
What are the Agile concepts and techniques that can aid in risk management?
Management of Risk (M_o_R) - framework for taking informed decisions about risks
Risk burndown charts - Probability and Impact (days lost) are multiplied to create a value of the days lost from a timebox if the risk were to be realised. This can be show graphically to give the total risk exposure. As risks are handled and mitigation steps put in place, the exposure will change.
Prototyping - figuring out uncertain areas of the site.
How should risks be discussed in daily stand-ups?
Good to distinguish between something that has happened (an issue) and something that might happen (a risk) with the team. It is good for the team to discuss what is happening and what might happen so they can prepare.
