Some Tips about Risk Management

Risk Management is important in projects as everybody understands, while sometimes it still could be ignored by the project managers especially those who just start the role.

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The project team should have all the dependencies listed for tracking and monitoring, while that’s not enough, mitigation to the risk of those dependencies not being solved in time, should be developed to reduce the impact to the overall project progress.

Risks should be communicated among team members, managers, and the client, it should be transparent to all the stakeholders of the project. A clear escalation path needs to be defined to ensure the necessary recognition and communication, especially when the probability of the risks being converted to issues is getting higher. Trying to hide risks will most likely lead to surprises to the client, and result in project failure.

Sometimes, it is the client pushing the project team to get the code done even without being thoroughly tested. While, eventually, the project team will be responsible for the project quality, so the effort should be made to convince the client by presenting the potential higher cost for the rework.