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Project Management, Denial, and the Death Zone by Grant Avery

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4

Risk Appetite

“I’d say this to myself … ‘This is Everest and you’ve got to take a few risks.’”

Edmund Hillary, as he neared the summit of Everest, May 29, 1953(From his autobiography, Nothing Venture, Nothing Win)

“Time, Cost, Quality (or Scope)—pick two,” as the saying goes, but which two? The saying pick two is a humorous reference to the essential difficulty of project management—the successful delivery of the three components which define any project. In the classic project management Iron Triangle, shown in Figure 4.1, sometimes called “the triple constraint”, more than two thirds of projects fail to deliver on all three of their scope, time, and cost promises. About a third of projects fail to deliver on any of them.

The problem is ...

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