Topic Teasers Vol. 111: Are You Ready For PESTLE?

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  Business Analysis   Risk Management  

It’s time to expand the business outside of the area, perhaps even internationally. Although we try to use a good risk assessment process, there always seem to be things that we don’t consider. As a result, the last two times we tried projects to grow our territory, we met with some unwelcome surprises that stopped our success. Is there a comprehensive list of factors, outside of the business itself, that we need to evaluate before we proceed?

A. Successful business expansion is based on luck. No one in an organization, and certainly not the project manager, should be asked to try to anticipate everything that could possibly go wrong and make sure it will not happen. Focus on meeting the technical and functional goals provided to you and don’t put yourself in line to be blamed if something goes wrong.

B. Considering risk threats and opportunities is part of your usual job. However, when you begin to consider growing to a size and outreach far beyond what you now do, you must have an organized way to look at environmental, legal, political and other facets of the landscape before moving into new markets.

C. If you use an agile approach for your expansion plan, you will be able to more easily adjust when you encounter …

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