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Role and response of Project risk management
Role and response of Project risk management
Role and response of Project risk management
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12 Things You Know About Projects but Choose to Ignore
The article “12 Things You Know About Projects but Choose to Ignore” is about the mistakes that are made when dealing with setting up new projects. These mistakes can happen usually at the beginning of the planning but can occur at any time during development and planning execution of the project. Despite all well intentions and focus to detail, any project can fail.
An ineffective executive sponsor – An executive sponsor is someone or a department that becomes the projects champion. They are responsible for obtaining the budget for the project, setting timers for each step of the project. Accepting the responsibility for any problems that might occur and finally signing off on the business case and the initial project document.
Problems will occur if the executive sponsor is weak or even nonexistent – this could guarantee a projects failure. Without an executive sponsorship involved in the planning stages and staging out each step, the project becomes an IT project rather than a business initiative with IT components. The executive sponsor must see to fulfilling the projects requirements and that business specifications are met.
A poor business case – the business case must set reasonable goals and expectations and must be achievable. This mistake happens when incorrect expectations for the project are set and deadline is missed. When describing the business plan, it must not be written in far-too-broad terms. This gives too many assumptions to the IT project planners and in hoping that they will understand the vague projection.
Business case is not longer valid – this happens when the project manager does not see a change in the market. The business case projection must be revisited and may need to be recalculated to determine if the project should continue. When a project is fully invested in going forward and the business has changed, this can cause the project to go in a wrong direction or miss an opportunity. Managers need to recheck continually the original business plan against any changes in the marketplace.
The project is too big – A project can be bigger than the executive sponsor can handle. Always take on a project that you can handle. When a project is larger than previously attempted before, it will be better to say no rather than undertake the project. And better to deliver a project on time and completed than to have delays and possible cancelations.