Monday, October 11, 2010

The Future of Project Management - Trend 8

Risk management will become standard practice for all projects

Project teams will conduct regular risk assessments at the beginning, mid-way and at the end of a project to proactively identify what might prevent success in the management of a project as well as to have contingencies in place to manage a risk, should it occur.

Proper risk management implies control of possible future events, and is proactive rather than reactive. It will reduce not only the likelihood of an event occurring, but also the magnitude of its impact. Organizations that consistently follow a risk management process on all of their projects will see a reduction in their management by crisis. There will always be some things that will occur but most of these, through sound risk management, can be managed, rather than reacted to.

Concluding Remarks
Many of you will read these trends and believe that you are not “senior” enough in your respective organizations to ensure these trends are effectively implemented in your organizations. This is not at all true. One of the great strengths of leaders is their ability to use influence and critical thinking skills to bring about positive change. Each of us can choose to be either a leader or a follower. We must decide. Our organization’s future may depend upon the right decisions being made today. Hopefully, knowledge of these trends will help you stay ahead of your competitors and help you contribute to your organization’s future success.

I look forward to hearing your comments,