Risk Management Ensures Project Success

Situation

A new project was critical to the overall success of the business and on-time delivery was essential. Previous projects similar to this had failed to meet market expectations and had resulted in financial and reputational damage to the company.

Task

To integrate risk management into the project development process to minimise the risk of failure.

Actions

All key personnel were involved early on in the project
An integrated ‘end to end’ project activity structure was implemented
Challenging targets were set to drive creativity, innovation and decision making
An integrated and ‘active’ risk management approach was embedded within all project work packages – (ie. risk management was no longer confined to a ‘one-off’, ‘up-front’, risk identification activity)
A structured and disciplined project coaching framework was introduced

Results

More timely risk mitigation minimised any adverse impact on project timing, cost and quality enabling the new project to be completed successfully
Project milestones were consistently delivered on time and in full
A process of early and on-going identification of critical project risks was formalised
Teams and individuals were more effective as a result of the coaching they received