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Assuming the project was planned during 2019, before the rise of this particular coronavirus, the risk would not have been forseeable - or in the same unlikely category as "asteroid strike" or such.
If the project is now behind schedule due to staff unavailability, travel meetings that could not happen, or that may be impacted, it's time to update the risk documents, meet with project members who are available, and communicate project impact - and options - to the sponsor(s).
thanks , I am doing but have no clear picture on the impact so far.... and probably nobody has. How long the commissioning has to be delayed .... for example, do I have to free up resources? Better to put on hold the activities directly involved and continue with the others ? I know there is not an unique recipe but what would be the elements to be considered for the decision?
As Scott indicates, while there was some early warning of it in late 2019, for most companies it would fall within the sphere of unknown-unknown risks.
As such, financial impacts might be addressed through management reserves.
Assuming it does subside within the next couple of months as some are predicting (hoping?), it would mean a shift in timelines which would create challenges for companies who do their project budgeting aligned with fiscal annual cycles.
Agreed there are a lot of unknowns. Without knowing more about your specific project it's hard to be precise about what options are best in your situation.
But my advice remains the same - work with PMBOK principles and best-practices, together with your experience, and WITH COLLEAGUES to generate options tied to probabilities of event actually occuring. Then present those options/probabilities to the sponsor, and let them help decide on next steps.
That way you are adding value by surfacing the issue and some thought-through options - and everybody is in synch.
I like the idea of presenting different scenarios with consequences. So I can share the decision with the sponsor and GKs :-)
Marine, I think risk management is still applicable and should not only focus on schedule. As a project manager your task is to avoid surprises and show a bright future.
Identify what risks are there for your project, and do it together with team members and experts. What if planned resources are not available, external factors like travel limitations apply, safety / health precautions must be made, and many more.
But also consider if there are opportunities, e.g. partnering with competition.
And which kind of options do you have e.g. to avoid travel, hire backup staff, buy protective gear.
Develop scenarios and triggers and inform sponsor and key stakeholders. Get preliminary approval for contingency plans.
Interesting your question
Thanks for sharing
I am convinced that it falls within the domain of environmental factors of the company or organization
In other words, if the business sector of the company or organization is heavily impacted by the corona virus, the projects will also be impacted
It is important to predict scenarios, assess risks and take the measures deemed necessary
In many cases this can be considered as force majeure.
It will defintely need to be considered in a projects risk management procedures for the short term or at least until the outbreak is under control.
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