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What Is Kanban Risk Management?

Managing risk is something all project management teams do. Whether it is reacting to emergency situations, resolving some pressing problem, or improving underlying processes.

Though there are several tools and methods you can use for managing project risks, Kanban is one of the strongest contenders for the job.

While Kanban considers risk management optional and does not prescribe any recommendations on how to manage risk in projects, Kanban risk management is an evolving technique that allows project teams to improve the predictability of functions that helps mitigate risk.

How does Kanban risk management work?

A majority of projects struggle with some form of budget, scope, planning, or schedule risk. But, like most Agile processes, Kanban is also well-equipped to help teams manage these common project risks.

Since Kanban has shorter feedback loops and a quicker task flow, teams get clear visibility on their project schedules.

When they are aware of the estimated time and tasks to be accomplished, they can also accurately estimate and control project budgets.

Scope risk is minimized. Because Kanban’s core philosophy is about limiting work in progress and optimizing processes, teams using Kanban can predict risk better.

When teams focus on maintaining a consistent flow of work, better predictability ensures that fewer things can go wrong.

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How to Make a Risk Management Plan

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How to make a Kanban risk management plan

Do you want to make a Kanban risk management plan for your project? Here’s a sample plan that can serve as inspiration for your Agile project:

  1. Identify possible risks and their potential impact on performance by having team brainstorming sessions.
  2. Gather part performance data and metrics for tasks, workflows of completed projects.
  3. Assess the probability of risk and prospective extent of loss in the project.
  4. Review previous deliverables and service delivery statistics.
  5. Understand current and future work performance after evaluating project metrics of completed projects.
  6. Monitor risk and prioritize any events based on their impact on the project and deliverables

To improve organizational outcomes and maturity, teams need to build a robust risk management aptitude.

By doing this, project teams can improve project predictability and manage risk by building greater trust in the organizational system and processes.