Corporate Risks of taking on a New Project
Whenever you take on a new project within your company, it is worth taking the time to think through its potential for “stopping your train” and interfering with your on-going operations. Try asking these questions about your next project:
- How is the business at risk from this project? Determine which of your activities have the potential for “stopping the train,” and interfering with the growth and/or operations of the company?
- How do you mitigate these risks? Focus on the key risks in the project and devise a plan that will outline how the work can be done with minimal disruption to the underlying business
- What is driving your deadlines? Sometimes the goals for finishing a big project are top down and the “let’s just get it done” mentality prevails. Make sure you allow for bottoms-up planning. Understand what it will take to “get the job done right.”
- Can the job be broken down into phases? If you take things in steps, the risk and the results can be more carefully controlled. This will enable you to switch one car at a time.
Change can occur without interrupting your business. Think through the process beforehand and keep the train moving.
- Michael Oleksak 2007
