Risk

All projects involve risk and it is recommended that some formal Risk Assessment is undertaken around the Project. Whilst an ongoing process as part of normal project control, Risk Assessment is vital at the outset of the project and offers an opportunity to involve stakeholders in the project by inviting them to participate. It is vital that they participate not only in identifying risk, but in identifying mitigating and alternative actions to reduce probability and impact of risk.

Risk identification is something best done as a group activity. It is recommended that some risk analysis is focussed on each task identified in the plan. Analysing the probability and impact of identified risks before thinking of mitigating actions and 'what if' scenarios will allow time to be prioritised to those risks with the greater potential for impact on the project.

A Risk Assessment template including examples of generic risks that most colleges would want to address is provided here.

Issues

All projects involve some uncertainties. Things will happen due to both foreseen risk and unforeseen incident or circumstance. It is important that those involved in the project, particularly the FPP Guide as project manager, understand and expect this and are not disheartened by it.

Keeping a log of issues, together with actions taken to resolve them ensures that:

• Issues get dealt with and are not forgotten
• Repetitive issues have a log of the solution for when they occur again
• A legacy of learning is created to benefit project managers in the future
• There is a record for reference in meetings and reports

Using a database to store details of identified risks, issues and change controls (where a suggested change to the plan or scope is made) can benefit all involved in the project by making the records accessible over the college network. A Controls Database is provided within the Project Management infoKit which can be downloaded and used.