What happens when issues become risks?
You may not have noticed when this happens. If you don’t track your issues they can quickly turn into risks.
In this episode, we look at what an issue is and why it’s of value to track and investigate it BEFORE it becomes a risk and derails your project.
It is also of value to have your team members support you in managing issue resolution. You don’t need to do it all on your own.
Issue Management Is Important
Capturing and monitoring issues is a key part of project management. It’s valuable for team members to be open to raising issues with you. An issue is anything that is a problem or might need to be considered.
I like to think of issues as anything that needs to be investigated. When I think of issues this way, adding them to a register is a good thing.
Raising the open issues with your team on a weekly basis and closing them off when you feel comfortable they are resolved, is a simple process.
Issues Unresolved Are Dangerous
An issue that has not been logged or one that has and not checked is dangerous. Why? Because it just may be the thing that stops your project. If an issue is left unresolved it might be the one small thing that creates a big risk to successful completion.
Issues that become risks create unnecessary stress and could result in your project being stopped before it is complete. That’s of no benefit to everyone working on the project.
So consider that anything you can do to monitor your issues so they don’t become risks is the best for you and your project team.
What To Do When Issues Become Risks
Panic! Oh no, that’s not the right answer.
Firstly it is important to understand how big a risk you now have. Is it something that will shut down your project or is there a mitigation strategy you can put into place right away?
What do you need to do to lower the impact of the risk? Put that action plan into place. Continually monitor the risk until it becomes a low-level risk and not something impacting your project.
Then go back and review if you are monitoring your issues in the best way so you don’t have any more risks surface.