In business we all like achieving things – getting things done – when something gets in the way of that – well it can really tick you off whilst also resulting in a cost outlay for your business.
If we think in terms of business improvement activities or as they should be called projects – there cam be any number of issues that could arise and prevent you from achieving your objectives.
Whilst there are some common “enemies” such as incorrect assumptions, resources and materials failing to appear as required through to the deliverable itself not achieving what it set out to.
Within project management there is a term and methodology relating to managing this – it’s called risk management.
If we turn our attention to business improvement projects one of the reasons that managing risk often gets overlooked is that often the projects are small scale and are under carried out within a rapid implementation. However, whilst the execution of the risk management task needs to be scaled to be fit for purpose it shouldn’t be irradiated entirely.
So what fits the bill? Well firstly no matter the size of your project – consider your risks – capture them within a list and ask yourself what you could do to reduce their likelihood of them happening. If you have a team working with you – involve them.
Obviously for large scale projects more in depth risk management should be utilized which should include making the business aware of the financial impact of realized risks.
At the end of the day, risks can stop your project from being a success with that in mind isn’t it sensible to have a process within YOUR project that addresses that?
For a brief introduction to the risk management process – check out this video courtesy of pmagenda.com (here’s the link to their piece on the risk management process)
