Define the Project
List the tasks
Estimate times and costs for each task
Find the critical path
Consider crashing or overlapping critical tasks
Draw Gantt (bar) chart
Calculate resource requirements over time
Assess risks, and prepare action plans
Monitor progress to the Gantt chart
Monitor cumulative cost
Communicate progress and changes
Review: learn and praise
About The Author
8. Assess risks, and prepare action plans
- Brainstorm a list of everything that could go wrong with your project.
- Use your team and the reviews from other projects to get the longest list possible.
- For each possible problem, assess how likely it is to happen and how serious it would be. Multiplying a rating for each allows you to prioritise the risks, or have a cut-off point below which you ignore them.
- For each possible problem, find ways to make it less likely to happen (by tackling the cause or causes). These preventative actions should be built into your project plan.
- For each possible problem, find ways to make it less serious if it does happen. This involves having back-up plans ready. You need to cover all of the possible effects of the problem which may occur.
- Only show your customer the external risk plan – they don’t need to know about potential internal problems.
- Make sure there’s enough contingency in terms of time and money to cover the likely risks.
- Remember that the purpose of contingency is not to make life easy for you, but to ensure that the project comes in on time and to budget – in other words, to make the customer happy.
- This is the end of the planning phase. All of the above actions need to be done before you agree to take the project on.
- The actions that follow are for the implementation part of the project