Risk management is an important topic when you are supervising a project. Sometimes risk prevention or an adequate risk response can alter completely the path followed, and the results that are obtained.
In your career as a Project Manager, ¿what do you consider the most important case of risk prevention you implemented, and how this ensured the project overcame undesired situations and attained success? Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
What would be a more significant risk response to implement than the one we did during Covid. We had to assess the risk, and come up with a response in a very short period of time without any guarantees that any of the responses would work because we never faced such a situation before. It was tough on the construction industry.
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1 reply by Verónica Elizabeth Pozo Ruiz
May 08, 2024 11:40 AM
Verónica Elizabeth Pozo Ruiz
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Rami, surely Covid was a tough stage to overcome in many industries; and by applying the concepts of risk management we can adequately face these unexpected circumstances.
The most significant response I recommended which was accepted was to shutdown a project mid-stream once it was clear that there were a number of high severity risks which would have sufficiently eroded the business benefits that further investment wouldn't be advisable.
It was a hard sell, but because I had a good relationship with the key decision makers and made sure that I made the risk information "matter" to them, they followed my advice.
Kiron
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1 reply by Verónica Elizabeth Pozo Ruiz
Apr 25, 2024 12:30 PM
Verónica Elizabeth Pozo Ruiz
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Kiron,
Surely shutting down a project mid-stream was a hard decision that could have been seen as exaggerated but after seeing the prevention of the financial loss that would have happened, investors must have been satisfied following your advice.
One of my biggest was implementing an interface management plan on a mega-project where 2 companies who had never worked together before were integrating their products together for a highly specialized purpose.
Neither understood each others design processes or flows well and some teams kept making late changes that would require weeks or months of rework for the other. We mapped out every exchange of technical data required between teams and then spent several days dedicated to refining the list and negotiating deliverable dates. That way we could both hold teams accountable to their commitments, and clearly identify the impacts if dates were missed, rather than assume we had ample time or the impacts would be minimal. Saving Changes...
George FreemanThought Leader | Author | Architect| Florida, United States
Hi Veronica,
Here’s a couple that may not be “most significant” but contributed to the premature greying of my hair.
- Transferring major deliverables from one team to another midstream (from Europe to the US) due to perceived ability to technically deliver objectives—Risk tolerance issues.
- Recalibrate “way of working” after resource exchange between international teams (to build trust) turned into espionage and sabotorial activities—there are no words to describe this one.
The most significant response I recommended which was accepted was to shutdown a project mid-stream once it was clear that there were a number of high severity risks which would have sufficiently eroded the business benefits that further investment wouldn't be advisable.
It was a hard sell, but because I had a good relationship with the key decision makers and made sure that I made the risk information "matter" to them, they followed my advice.
Kiron
Kiron,
Surely shutting down a project mid-stream was a hard decision that could have been seen as exaggerated but after seeing the prevention of the financial loss that would have happened, investors must have been satisfied following your advice. Saving Changes...
What would be a more significant risk response to implement than the one we did during Covid. We had to assess the risk, and come up with a response in a very short period of time without any guarantees that any of the responses would work because we never faced such a situation before. It was tough on the construction industry.
Rami, surely Covid was a tough stage to overcome in many industries; and by applying the concepts of risk management we can adequately face these unexpected circumstances. Saving Changes...
Michael BrowningDirector, Cybersecurity| Vanderbilt UniversityNashville, United States
Thank you, this was a very interesting read! Saving Changes...
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