Yes, there is a #1 secret to managing project risk!  Know what it is?  No?  Read on:

Risk is inherently a negative term in today’s project environment.  How we perceive that risk and turn it into a positive especially, when stakeholders are fearful of project failure and excessive financial overruns.

One takes risks every day from leaving your house to driving or flying to work.  The risk in each of these tasks is outweighed by the outcome and the necessity to embrace that risk to meet a higher purpose.

PROJECT RISK
The same is said for projects.  When a Project is conceived there are inherent risks that we see and can “plan” for but, with any undertaking there are the unforeseen issues that arise and stakeholders must be informed.  The success of your venture is how you approach the stakeholders as they are not wanting to buy snake oil so, don’t try to sell any.  They want bigger and better but, be mindful that if you promise too much and can’t deliver you just sold the stakeholders snake oil and this should always be avoided.

Project Managers have many tools at their disposal and the most effective tool is integrity.  Trust is essential to Project success and integrity is the key ingredient in trust.  Stakeholders may not like you but, if they respect you and trust you, success is still possible.  While working on a project, I was sent to repair a damaged relationship.  The customer did not trust me nor, did they approve of my presence but, the contract was in place and we were attempting to fulfill the contract.  I assessed the issues, created a successful scenario and presented it to senior management and the client.  Provided all that was promised, salvaged the relationship and saved the company and the customer money all by using the most powerful tool available … integrity.

SECRET TO MANAGING PROJECTS: SCOPE CONTROL
Looking at issues that arise with a realistic approach and attention to SCOPE, Project Managers can create opportunities with every risk.  To persuade stakeholders to extend the SCOPE, alter deadlines or even place issues on another project will allow the current project to complete on time and on budget while, making issues that arise a part of subsequent projects to ensure the issue has the required amount of time to be completed successfully.  This will also include the incompatibility of items that go beyond the abilities of the application, program or even infrastructure that can create project failure.

The project was addressed in two phases.  The first phase was support and copper infrastructure and the second phase was fiber optic.  Keeping in mind that these two phases had separate SCOPES with different deadlines.  The resolution was to combine the SCOPEs, keep the final deadline and address the key issues holding up the project and removing financial overrun.   This was accepted and ratified by both management and the client.  It also repaired the relationship between the company and the client and saved the customer and company money as both phases of the project went over the first deadline by one week and the second deadline which was the one kept in place, completed five weeks early, saving thousands of dollars for the company and the client, as the exceeded deadlines would have cost far more than just the money and materials..

THE BENEFITS TO YOU!
When these items are identified one must alert stakeholders, provide alternatives and record feedback to ensure that project team participants are aware of any changes and that the revisions are possible with the current structure and capabilities.  Projects are not always successful and never will be and once that is understood we can create opportunities from those failures.  These opportunities offer the chance to provide more with less minimizing costs, project downtime and ultimately superior functionality.

Bio:

Born in North Carolina.  Worked all over the United States from residential to Governmental Organizations.  Has 2 sons 3 and 6 and yes, there is nothing more important to me … being a PM makes for a good referee.  Currently pursuing a BS in IT Project Management.  Worked in the IT and Telephony Industry for the last 20 years.  Upwardly mobile, self starter with a WILL do attitude.

My motto : give me enough rope and I can hang anybody

Favorite quote: This too shall pass AND Lead Follow or get out of the way

He can be contacted at: daniel.everhart@gmail.com or at 404-717-3607 cell.