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Managing Project Risk

Project Risk is a term that is far too loosely used in projects and more often than not, poorly managed.

Good risk management doesn’t mean things don’t go wrong, but to get it right you’ll need to have a process in place to manage known risks, and to proactively deal with unforeseen issues.

When dealing with risk, the two greatest attributes your Builder can have is flexibility and the ability to be a problem solver.

It is critical to have processes and systems in place to deal with risk, but you must be prepared to step outside the process if the resolution for a particular risk requires it. This doesn’t mean you negate processes and just go off and do whatever you want, it means being willing to be flexible. Different risks require different solutions and when a Builder gets caught in process, time can get wasted and their (or worse your) costs can rise.

Of course the best risk mitigant of all is to have an experienced problem solving Builder on your project.

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