Navigating Risks: Beyond Conversations
In the complex realm of project management, success often hinges on a delicate dance between stakeholders, each with their unique perspectives and interests. Managing project risks becomes more than a mere checklist; it's an art of communication and documentation.
A Conversation Is Not Enough
It's not uncommon to hear the phrase, "We spoke to them about it. It won't be a problem!" And in many cases, these conversations are sincere, well-intentioned exchanges between project/product managers and stakeholders. But here's the catch: in the fast-paced whirlwind of project execution, memories fade, priorities shift, and scope evolves.
Verbal agreements are ephemeral. What seems crystal clear today might become a hazy memory tomorrow. This is where the cracks start to appear. Risks slip through the gaps, not because of ill intent, but because of human nature. Stakeholders may genuinely forget the specifics of an agreement or the reasons behind a particular decision.
Bridging the Gap: Comprehensive Records
To truly master project risk management, it's imperative to move beyond conversations and embrace comprehensive record-keeping. While verbal agreements have their place, they need a solid foundation to stand on. Detailed meeting notes, action items, and decision logs transform abstract discussions into tangible commitments.
But don't stop there. It's not just about having these records buried in a digital vault. They need to be highly visible, accessible to everyone involved. These records become the compass guiding your project through stormy seas. When stakeholders can review past decisions and understand their context, it fosters clarity and alignment.
Project scope can change in the blink of an eye, especially in agile and dynamic companies. What was agreed upon a month ago may no longer hold true today. Here, the value of continued documentation truly shines. It's not about creating a paper trail to assign blame; it's about enabling adaptation.
What should we do?
There are many ways to track project risks that are low lift. While I would recommend some more intensive tracking, if you’re new to risk management, or having a hard time convincing your team to be diligent, here are three easy steps to get started:
1) Choose a platform/tool for tracking your risks
2) List your Risks and Mitigation Strategies
3) Regularly Send Comms regarding updates weekly
Remember to keep it simple. Change is never easy, and risk management is like insurance; people aren’t as interested until things go wrong.
Ultimately project risk management is not a one-time conversation; it's an ongoing dialogue supported by fastidious records. It's about transforming verbal agreements into tangible assets. In a world where change is constant and memories are short, these records are your safeguard. They ensure that the path forward remains well-lit, even in the midst of uncertainty, and that risks are met with solutions, not surprises.
