Depending on the company they may have additional financial reserves to tap into for situations like this or you may be lucky enough that another project was under budget and can transfer their funds to you. Though it is beneficial…   Read more»

I think it is important for stakeholders to maintain distance from specific company operations as they are not qualified to do certain tasks and it may slow the process down if they are constantly caught up to speed on what…   Read more»

I don’t see transference as negative as it may come across depending on how it is used. For instance, a company may hand off a risk to a third party to use their resources towards working on other projects. In…   Read more»

I do not think stakeholders should be involved in the project process. As mentioned their role should be limited to financial oversight and they should leave the project to those they have entrusted their funding to. Of course if the…   Read more»

As previously mentioned there isn’t exactly one answer to this problem. One of the factors that I would consider is the importance of the project. Is this project a precursor to  another project or a series of projects? Is this…   Read more»

I agree with pv223, transference is not a feasible risk management strategy in the medical device/pharmaceutical field. Like pv223 mentioned, avoidance and mitigation are the two primarily used strategies with mitigation being preferred. In Dr. Simon’s medical device development course,…   Read more»

I would prefer working in an environment where I have a more roles in a design process. Disregarding any change in workload I think it is beneficial not only for my career but project design skills to better understand the…   Read more»

In my career so far, I’ve only ever worked at a large company. Since the company is very big, there are teams dedicated to very specific things (Exactly like you and Dr. Simon mentioned). To me, this question boils down…   Read more»

Great question! I think that stakeholders should not be involved in the day-to-day operations of the project they are investing in. This is because I feel as though most stakeholders in a project have multiple projects or have a different…   Read more»

  I am of the belief that in our field of medical devices, and pharmaceuticals like you mentioned, that transference is not a risk management strategy that can be used and accepted from both the patients perspective and the manufacturers…   Read more»

  I agree, the planning phase is by far the most important phase during the project management process. This phase is the entire foundation that the project is built on and if it is not done properly, the chances of…   Read more»

  I believe that the answer to this question varies depending on the situation. It could be possible that the manager had done some poor planning for the project, like @hodafattel mentioned, but it could also be a situation where…   Read more»

I think the most important step in the project management process is the planning phase. Planning is essential as it is a manual that can guide the team towards reaching your general goals while preparing them for the risks and…   Read more»

Going over budget in a project reflects very poorly on the manager. It usually occurs when the manager has poor planning skills. The manager has very limited options in this case. In order to finish the project without going budget,…   Read more»

It’s very common to have a difficult member on your team. Although this can make the entire project very cumbersome, it is important to remember that you both still have the same project goal. This is why it is important…   Read more»

I believe the best way to handle underperforming team members is to have good communication with them through each step of the project. It is important as team manager to be aware of what stage each member is at in…   Read more»

I agree that the best way to divide the workload is to create separate groups to work on an individual portion of the project. This allows for the sharing of ideas and can aid the members come up with creative…   Read more»