The Project Paradox

What causes delays in Projects?

The major issues that cause problems and affect the success of a project come down to three points-

• The communication gap between members-If the employees are unclear about their work schedule, they cannot conclude their tasks.
• There is no accountability on the part of the team– even the most sincere employees can get lax in a hectic schedule. When they take responsibility for their work, a delay occurs.
• Unpredictable supply shortage- Despite taking the best measures, there is no surety of an obstacle-free ride. Lack of raw material supply, system failure, and a member leaving due to disease are factors no one can control.

Identifying Risks in a Project

1. Interviews- Plan a discussion with key personnel and document the sessions. It would be best to prepare a questionnaire beforehand to cover all major points.
2. Checklists- More often than not, every project faces some common delays. Prepare an index of all commonly occurring issues and devise a methodology to work around them. You can add more points to every project.
3. Brainstorming- Your team can give you insight into the finer details of the process. Bring your team members together for a session and brainstorm the expected risks.
4. NGT Technique- One of the most effective ways to identify risks, the NGT technique helps to collect and prioritize crucial points and include everyone in the solution.
5. Affinity Diagrams- It is a fun activity to get vital information by grouping unorganized data. It will also act as a great team-building exercise.
6. Track using Industry Standard Practices- Tools like the Gantt Chart or metrics such as Schedule Variance and cost Variance will help quantify risks in a project.

Risk Mitigation with Project Management Programs

• Have a Meticulous Approach- Doing a quick fix might sound tempting, but it will not solve your problems. No Project Management Control software can exterminate bugs and issues with a single click. Instead, focus on minor yet permanent changes. A gradual process of fixes will yield fruitful results in the long run. For example, the money you earn from a 1% compound interest on a principal will be more than a one-time return on a 10% simple interest in ten years. It also changes the way you look at risk management. Unlike the front-end loading approach, you learn to manage risks steadily with Project Management Control.
• Learn to Delegate- As a project manager, it can be tempting to oversee everything yourself. Our advice- don’t. Ironically, human intervention increases the chances of error, not reduce them. It is the digital age, and we have system software to shoulder responsibilities. Coordinate with project management programs and see how they scale your productivity and improve project management. No human can run a diagnosis as an AI software can. It will also analyze the current situation and alert you to possible risks in the future. The Project Management Control program will not make decisions but will bring the issues to your notice. You can easily prevent them; if not, be ready to face them.
• Be Adaptable- A project might go smoothly with everyone completing their tasks timely, but the future is always uncertain. You can only know the dynamic variables once you face the consequences. But Project Management programs designed to analyze and predict the end strategically can do that. They monitor and alert you with automated risk caution to prepare you for any obstacle that might come your way. You can dodge some significant fireballs with prior knowledge. But as we discussed, some threats are inevitable. So, it is wise to know them beforehand and be prepared. An adaptable member can easily tune in to every change. Being open to change does not mean you are willing to switch your entire schedule and work profile with every change. It helps you plan your upcoming tasks effectively, understand the evolving demands, and adjust accordingly.
• Real-time Predictions- Analyzing risks is similar to creating a weather report. If a reporter uses the previous day’s data to predict the weather forecast, the results will be inaccurate. Weather changes depend on many factors like winds, sun, and clouds. If one variable changes, the report changes. Connecting your Project Management Programs to your project data and resources database will generate real-time risk evaluation and report it simultaneously. When you get a clear image of your resource availability and capital capacity, you can-
  • Real-time Predictions
  • avoid conflicts
  • Prevent burnt-out staff
  • Plan a better budget
  • Check availability in real time.
  • Determine future assignments

Coexsys enables Risk Mitigation with Effective Project Management Control.