Risk is the possibility of something terrible happening. Performalise guides your team to reduce and mitigate their risks
What is risk?
“An uncertain event or set of events that, should it occur, will have an effect on the achievement of objectives.”
“A risk is measured by the combination of the probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives.”
In short, Risk is the possibility of something terrible happening.
How do we reduce risk?
The process of reducing risk is called Risk mitigation, where we take steps to reduce the negative effects of threats on achieving our goals. In the context of Agile, these goals are Definition of Done (DoD), Sprint Goals and Product Goal.
The risk mitigation process:
Identify all possible events in which risk is presented.
Perform risk assessment
Which involves quantifying the level of risk in the events identified. Risk assessments involve measures, processes and controls to reduce the impact of risk.
which involves ranking quantified risk in terms of severity
Monitoring risks as they change in severity or relevance to the organisation. It's essential to have solid metrics for tracking risk as it evolves.
Implement tasks to reduce risk and monitor progress
Reevaluating the plan's effectiveness in identifying risk and improving as needed.
The Metrics Cluster
Clustered metrics enable teams to gain insights from multiple vantage points and support them to adapt and deliver stretch goals.
The Risk Metrics outlined below guide teams on their journey to “Reducing time to Revenue”.
Where can we find risk?
Sprint Goal understanding
Sprint Work understanding
Confidence to deliver
Sustainable Improvement discipline
Risk in Performalise
The Developers focus on breaking down each PBI into smaller more manageable tasks (of less than a day in size), to cover everything that is needed to get the PBI “done”; using their Definition of Done to guide them.
Performalise leads the way
Bring your team’s Sprint Risk Management together in one shared space and start mitigating!
Performalise monitors your risks, all whilst your team focus on delivering. At the start of each Sprint, a summary of our current risk status guides the team and helps highlight improvement areas. Performalise makes sure your team has clarity and context from the get-go so we're realistic about what can be achieved and we remove risks impeding the team's ongoing success.
Performalise is all you need to do great Agile.
Not getting the results you expect from your Sprints? Use Performalise to visualise and monitor the risks that are impacting the output of your Sprints.
Applying improvements to your Risk management can boost efficiency and have a significant impact on your Sprint—especially when you use the right tools. Performalise is designed to take what you do well, and help you do it even better. Start your next Sprint success story with Performalise