Project Management

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Iranian market-space risks

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Ali Vakilzadeh Lead Project management officer| GTT Holding Tehran, Iran (Islamic Republic of)
It's unwise to consider a medium- to large-scale project completely independent from market-space risks. As such conditions now imply on Iranian market by sanctions, political situation etc. We are now planning our new project. meanwhile we are facing a problem that almost every task is directly affected by two certain risks - i.e. extremely volatile exchange rates and vendors avoiding to sell goods even for civil projects.
Apart from highly detailed risk planning and huge contingency reserves, what more preparations a project manager is expected to do to make sure the project will not fail?
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Abolfazl Yousefi Darestani Manager, Quality and Continuous Improvement| Hörmann-TNR Industrial Doors Newmarket, Ontario, Canada
You better have Plan B, C and D for each vital task. a detailed list of potential suppliers and also make or buy decision strategy are two key factors.
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2 replies by Ali Vakilzadeh and WEE ANN JIMMY NG
Jul 15, 2019 12:10 PM
WEE ANN JIMMY NG
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My thoughts too.
Jul 16, 2019 1:58 AM
Ali Vakilzadeh
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A risk response plan is now on the table, actually the risk table has grown to several hundreds and it gets more complicated to track.
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Stéphane Parent Self Employed / Semi-retired| Leader Maker Prince Edward Island, Canada
I would consider adding frequent gates to regularly gauge if the project should continue or be stopped. Throwing more money at a project does not always make it remain beneficial. It may become unprofitable, unusable or unfit.
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1 reply by Ali Vakilzadeh
Jul 16, 2019 2:00 AM
Ali Vakilzadeh
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Very good idea!
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WEE ANN JIMMY NG Director, Education Technology| Fiamo Pte Ltd Singapore, Singapore
Jul 15, 2019 8:09 AM
Replying to Abolfazl Yousefi Darestani
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You better have Plan B, C and D for each vital task. a detailed list of potential suppliers and also make or buy decision strategy are two key factors.
My thoughts too.
avatar
Ali Vakilzadeh Lead Project management officer| GTT Holding Tehran, Iran (Islamic Republic of)
Jul 15, 2019 8:09 AM
Replying to Abolfazl Yousefi Darestani
...
You better have Plan B, C and D for each vital task. a detailed list of potential suppliers and also make or buy decision strategy are two key factors.
A risk response plan is now on the table, actually the risk table has grown to several hundreds and it gets more complicated to track.
avatar
Ali Vakilzadeh Lead Project management officer| GTT Holding Tehran, Iran (Islamic Republic of)
Jul 15, 2019 10:15 AM
Replying to Stéphane Parent
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I would consider adding frequent gates to regularly gauge if the project should continue or be stopped. Throwing more money at a project does not always make it remain beneficial. It may become unprofitable, unusable or unfit.
Very good idea!

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