Project Risk Assessment and Decision Support Tools

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THE RESCUER’S MISSION (Part 1 of 2)

Remember – Nobody wants to look like they are the reason for a failed project.

ASK MANAGEMENT:

1. Please provide you with a thumbnail summary overview of their business
2. What business challenges keep them up at night
3. How this project correlates with the firm’s overall business model
      ● Stay cool and calm in the midst of turmoil. Seek constructive resolutions.
      ● Envision short- and long-term goals.
      ● Develop a business plan and put it into operation fast.
      ● Have an understanding of cost control.
      ● Be prepared to deal with conflict. We do not know our client’s language, culture, or business.
      ● Persuade people and inspire confidence. Pick a trusted/ competent team to assist you.
      ● Pick the best course of action and proceed. Explain possible consequences if the problems are not fixed.
      ● Focus more on what (if anything) to save rather than what caused the problem. You may not be able to undo the “damage” that has already been done, before your arrival.
      ● Brainstorm calmly.
      ● Envision the end game. What will the project look like after it has been restructured? Consider working from the desired result backwards to the current situation.
      ● Develop rapport quickly. BE RESPECTFUL OF THE TEAM’S LEGACY!
         ● Sell your plan to:
         ● Stakeholders.
         ● Shareholders.
         ● Management.
         ● Project manager.
         ● Project team.
         ● Contractors, suppliers and vendors.
         ● Creditors.