A Risk Mitigation System Removes a Barrier to Solving an Organization’s Deeper Issues
A prioritization scheme removes one roadblock to fixing an organization’s larger problems. An institution magnifies its issues, without a strategy for selecting work. For example, it might regularly set arbitrary due dates for its projects. That schedule is made less tenable, by that company’s inability to manage its resources. A timeline unrealistic in the best of conditions becomes disastrously impractical, when a business acts as though its resources are unlimited. A prioritization scheme assumes that an organization’s capabilities are bound, minimizing the damage of deeper problems and removing a barrier to fixing those issues. Yet, that impediment is not the only one an institution should remove. After implementing a prioritization scheme, a company should utilize risk mitigation, which removes another roadblock to fixing larger difficulties.
A business’s troubles are not exacerbated, by implementing a strategy for the management of threats. If an organization sets unrealistic due dates, it will miss them. If it sets impractical timetables and it fails to control dangers to meeting those schedules, then it will fly past its target, magnifying its problem.
An institution can limit the impact of its failures, by mitigating risk. If a company has foundational issues, it will see a certain amount of defeats. Those losses can be minimized by limiting factors that compound problems. A business can minimize those elements, by managing its threats.
An organization governs the hazards in its projects, with measures below:
Anticipating problems
Prioritizing them by impact (impact = cost * likelihood) (note: cost should be percentage of total project cost)
Selecting only a small list of them (e.g., the top 10)
Develop tactics to minimize the impact and/or likelihood of those dangers
Implementing those approaches
Without the maneuvers listed above, an institution might not be able to solve its deeper issue. A company’s problem might persist, even after solving most of it. Risk mitigation exacerbates troubles, and it can keep them alive, if a business is poor enough at it. If an organization manages its threats, then it removes a barrier to correcting an underlying struggle, because it removes incidental causes of its difficulties.
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End Notes
An organization should implement risk mitigation. If that institution wants additional details, it should read future iterations of this newsletter and our various blog posts. ExperTech Insights regularly publishes new editions, and it maintains a site dedicated to exploring the correction of underlying software development issues. Subscribe to this missive, read Software Development Journal, and follow us on Twitter, if you are interested in what we do.