Risk Management and the highly visible projects

As I’m sure you know, identifying and managing risks is a vital and fundamental activity in any project plan.  Typically the risk management approach is appropriately tailored to the characteristics of the project.  In a very short duration and low cost project, the risk management approach may be nothing more than simple list that the project leader maintains.   However, for complex, long duration, expensive, highly visible projects, risk management takes on a whole different level of importance. 

 

Space Shuttle 4484037217_848acf8df9_m.jpg

 

For the past few months, I’ve been living near the Kennedy Space Center, where NASA launches the Space Shuttle.  If they have problems, the results can be tragic. They take risk management seriously – see for yourself at their risk mgt page Or,if you’re interested in more about large project management for government and defense industries – check out the Glen Alleman’s blog “Herding Cats” where he has great insight into very large project and program mgt.

 

image from: cosmobc on flickr

 

Lately, I’ve been thinking about a very highly visible project that is nearing completion at the end of the month.  The project has a deadline that is very visible and would be difficult and embarrassing to delay. 

Royal Wedding 5600838974_30641c45ca_m.jpg

– The Royal Wedding in the UK at the end of this month. 

 

 

I think it would be fascinating to look at their risk management plan.   What sorts of risks are they concerned about and how are they addressing them.  

 

 

 photo by UK_repsome on flicker

 

Let’s just speculate about the unique risks the wedding planners might be tracking:

Risk

Impact

Probability

Plan to address

Inclement Weather

Medium

Medium

Tents, Umbrellas

Traffic Congestion

Medium

High

Proactive street closure

Cold Feet (either bride or groom)

Very High

Low

Hire a look alike as stand in

Bachelor / Bachelorette Party excesses

High

Medium

Lots of adult supervision

Fashion faux pas

Low

Low

Designer for the wedding party

Football hooligans disrupt wedding

High

Low

Schedule match away from wedding

Wedding Guest upstages wedding party

Medium

Low

Carefully manage guest list.  
See ABC News

<add your ideas here- just add them in comments>

 

 

 

 

So, at the end of the month, in front of a worldwide TV audience of over 2 billion people, if you also watch the wedding, think about the wide variety risks that they managed. 

 

You can join in the fun… What would you add to our speculative Royal Wedding Risk Management Plan?  (just add a comment)

 

Of course, HP's Project and Portfolio Management solution can help track and manage the risks in your projects, but enough of that for now. If you’re interested in HP PPM, you can follow us at the HP PPM Blog  or even follow us @HPPPM on Twitter

Labels: HP PPM
Comments
HP Expert | ‎04-21-2011 12:28 PM

Just saw this issue about the wedding dress - Wedding Dress Drama.   Did they have this as a risk item?

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