Let’s face it, no matter how confident you are that your project will be a success, there is always a chance that it may fail to some degree. There's always a possibility that something could go wrong. It's important that these project risks are identified early on. Of course, risk management is an ongoing (and unexpected) activity, so you should continue to record new risks as they come up. But this can still be a difficult thing to do for smart managers.
Having to analyse every conceivable risk, and then having to assess and score impact and probability, are just a few of the many tedious tasks that you'd need to stay on top of. This is essentially why so many projects suffer from delays. It's because certain information is difficult to attain and even harder to maintain as it all becomes outdated. Being flexible and adaptable with your decision making will be key with risk management and contingency planning.
Creating a list of risks is a good starting point, but it isn’t enough in itself. You need more support and even more help. You will also need an action plan per risk, in order to be able to manage them—both efficiently and effectively. Fortunately, IdeasCast, have looked to address this and have created a Risk Management centre within OpusView.
It's fully integrated with the project tasks, too. Giving you unique insight as you access project dashboards that pull all of the most important data and relevant information so that you can manage the risks, understand the statuses, and ultimately, make smarter decisions. All of this will guide you so that you and your team can take the appropriate action when required.
So, if you want to escape those Risk Management workshops once and for all, or if you are responsible for project delivery and struggle to manage risks, then contact us to arrange a FREE no-obligation demo of OpusView. In other words? You've got nothing to lose and everything to gain.
With this rare Risk Management suite, you will finally be able to manage risk through acceptance, transference, avoidance, mitigation, or exploitation. You’ll probably find yourself using a combination of those techniques, while simultaneously choosing the strategies that best fit the risks of your project and skills of your team.
Ensuring strong leadership will be absolutely crucial amongst all of this, especially if you want to have any chance of weathering the storm. Contingency planning isn't just about major crises and random disasters either. It's about preparing you for even commonplace problems, such as the loss of data, staff, clients, partnerships, or business relationships. That's why it's vital that you make contingency planning a routine part of the way you work.
Lastly, make sure to develop a workable plan beforehand. At least to the best of your ability and knowledge. Your team will not have the time to go through a long and big manual in a crisis. Just remember, Noah built the Ark before the rain ever came. You should consider doing the same.