Have you ever wondered why people make the same mistakes repetitively?
There is no need to keep making the same mistakes in every project, but it happens all the time. It is because the process has not changed. If you keep doing the same things, the same way, do not expect a different outcome.
To break out of the pattern of the same process with similar problematic outcomes, change the process.
- Identify the positive outcomes as well as the negative.
- Identify the underlying factors contributing to those outcomes.
- Create a risk management plan, to capitalize on the positive outcomes and minimize the impact of the negative ones.
- Save the information in a database that can be searched, analyzed and applied to future projects.
Over the course of a few projects, the improvement in business processes will be palpable.
Break the cycle… there is no need to repeat last year’s mistakes!
A risk management approach to project planning, coupled with a strong Lessons Learned process can improve your business practices. Incorporating risk management into the project management process will provide you with the means to break the cycle.
- Identify the risks that you anticipate
- Record and analyze
- Plan corrective action
- Review the list of risks regularly and update project plans
At the end of the project, in the Lessons Learned, identify:
- Which risks and opportunities happened?
- Which risks didn’t happen?
- Which risks were predicted?
- Which risks were not anticipated?
- Which risks became changes to the contract?
- Which ones were effectively mitigated?
- Which ones still cause us to cringe with memories of the pain?
Typically, by the end of a few projects, a company will have a knowledge database that will spur improvements to project management and execution.
Now when such issues occur in upcoming projects, staff recognize the signs and can take corrective action to mitigate the risk.
We offer accredited webinars and on-site training in Risk Management and Construction Management. For more information: https://escomputertraining.com/courses/list/industry/9
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Videos on these topics: Construction & Risk Management Series