Friday, February 13, 2015

Inadequate Risk Management

Why Projects Really Fail
This is the extra cause of project failure I added to my original nine to make a nice, solid ten causes, based on more recent study. Right from the outset poor project managers seem to plan their projects on the assumption that nothing will go wrong. Unfortunately for them Murphy's Law never fails to deliver.

On the other hand a wise project manager knows that things will go wrong and allows for that in the initial planning exercise. They then spend time, with the project team, looking for potential risks that could impact the project. Having identified the risks, they then take steps to mitigate those risks. Despite that they still know that some things will go wrong and, when they do, they actively manage the resultant activities to minimise the impact and recover from it as quickly as possible. So yet again inadequate risk management is just another symptom of poor project management.

Next week we will begin to examine the real cause of project failure and what we can do about it. Until then enjoy your projects.


Sean Thornton said...

Great article, knowing how to asses risks and not just ignoring them like they won't happen is key. This article also stresses the importance of managing risks as a project manager.

P M Blogger said...

Thanks for the feedback Sean.

Project Tracking Software said...

A project may fail also due to lack of collaboration when your team consist of such members who never like to take a backseat!!!