Critical.
Authoritative.
Strategic.
Subscribe to CIO Magazine »

How to Manage Project Risks, Part 8: Business Risks

Analysis of the business risks ensures the project team considers issues the business staff are aware of.
Page:

The whole point of a project is to change the business. In this process the project can change how the organization deals with its customers, its suppliers, how the organization is structured or impact other projects and their results, for example.

These are not risks to the delivery of the project; the project can go ahead and deliver as planned regardless of these risks. But, they are risks to the success of the project as they impact the organization's ability to continue to operate and deliver its products and services.

Business risks are the third dimension to each project's standard risk profile

Usually these risks are ignored. Some may be picked up in the risk analysis, but as they are not risks the project can or needs to manage throughout the project, they can often be deleted as 'not relevant'.

Business risks cover the following seven areas:

1. Customer risks: How will this project change/impact how our customers deal with us or us with them, access our services, change our services?

2. Market risks: How will this project change/impact our position, reputation and brand in the market?

3. Partner risks: How will this project change/impact our relationships with other organizations that we partner/go to market with?

4. Supplier risks: How will this project change/impact our relationships and working bases with our suppliers?

5. Firm-wide risks: How will this project change/impact our firm, its role and scope of operations, goals, culture, policies and financing?

6. Operational risks: How will this project change/impact the organization, jobs, KPIs, processes, social networks, people numbers, working environments or unions?

7. Portfolio risks: How will this project change/impact other concurrent or planned initiatives, existing systems/architecture/standards, computing capacity or security exposures/controls?

Page:

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: SIMMS, Simms International

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the CIO comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
Related Whitepapers
Latest Stories
Community Comments
Latest Blog Posts
Whitepapers
  • Server and Storage Optimization Techniques
    By meeting the requirements to deploy new applications and support a larger number of internal and external customers, IT organizations are facing a space, power, and cooling crunch. Read on.
    Learn more »
  • Closing the print security gap - The market landscape for print security
    Today, many organisations continue to rely on printing to support business processes, particularly in the public sector, finance industry and legal profession. Whilst MFPs and printers have improved business productivity, they pose the same security risk as any networked device if left unprotected. With reported data breaches on the rise and growing industry and regulatory requirements around information security, businesses may suffer financial and reputational damage if they ignore the risks of unsecured printing. Read more.
    Learn more »
  • Print security and the mobile workforce
    Where, when, and how we work is changing. Whether your employees are working on the road without a dedicated workstation or from a home office, they need a safe way to print. Driving this shift is the accelerating adoption of smartphones, tablets, and other mobile devices. But even with these devices, printing remains a key business function for virtually all employees, and many may already be using them to print. Read more.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Recent comments