Taking the first step in project risk management as early in the process as possible can identify issues in your project which can be managed to play a deciding role in whether a project gets off the ground. This early analysis requires examination of both traditional and “outside the box” issues.
Starting discussions with the team that will execute the project is a terrific way to identify potential risks, as this group will most likely have personal experience and expertise from previous projects in which they have been involved. Brainstorming meetings with your team can identify both risks and opportunities undiscovered during the initial planning stages. After examining potential risks with your internal team, counsel of outside experts can lay out a risk landscape on which to determine the most efficient and cost effective roadmap to project completion.
The other invaluable source risk assessment is the documentation covering the implementation and ongoing development of the project. This may require a lot of reading between the lines, but these documents can bring to light project risks which may otherwise lay dormant until problems arise. Documents related to sourcing materials and labor, the project plan, and financials are a good place to start.
While identifying all project risks before they occur can be a daunting process, the expert team at Solvo Group led by Dmitrij Harder can provide the expert assistance required to assess risks early in the process so that they can be dealt with efficiently and cost effectively.