The High Risk Project

Project Management has been around from the beginning of time. Just think about the wonders of the world that have been built. A form of project management had to have been used to accomplish such feats. The Romans and Egyptians are examples of accomplishing amazing construction projects with only primitive tools and slaves. The use of slaves must have been ingrained into project teams through the years to joke about Project Managers being slave drivers.      

Fast forward to modern times. Project Management is a critical discipline to ensure successful delivery of projects on time within the budget. Projects are tied to a budget with a reasonable variance for the bumps in the road that could pop up. The bumps in the road are the project risks that should be identified and monitored all the time. The entire team needs to be onboard with open communication to immediately report any risks that are starting to materialize. If you stick your head in the sand and hope that the risk goes away without any mitigation, good luck, get your resume ready. 

The person overseaing the entire high profile project needs to be transparent, accessible and have integrity. Knowing when to say timeout takes guts when it's starting to look bad. Slapping on workarounds for deficiencies that eventually catch up with the project is just pure stupidity. Money and time are just wasted and your competency will questioned. 

Having an unrealistic attitude that we have put in many hours and spent big money on the project already so it's unstoppable because we are at the point of no return will not work in your favor. Any failing project can be shutdown to repurpose it or dismantle it to stop further financial loss. Repurpose or dismantling will come at a cost, but if you continue on with a poorly planned project that should have never gotten a green light to proceed, you better have deep pockets to keep funding that White Elephant. A lot of people will be outraged and at the same time relieved that bleeding will be stopped. 

It's all about gathering the required cost and time to complete a project on-time within the budget. Not an easy job for some projects, but it needs to be done properly without cutting corners to get an approval. That's the expectation you expect when you entrust a project team to embark on a major high risk project that is very expensive.