One of the biggest misconceptions about project control is that the project manager must always control the team to get the right results. However, micromanaging doesn’t leverage the team’s strengths. To craft a well-thought-out plan for executing projects and avoiding risks, you must have a sufficient set of controls in place. In this article at The Digital Project Manager, Ben Aston explains how project controls help in avoiding chaos and manage risks.
Features of Project Controls for Risk Management
Risk Breakdown Structure
The consistent RBS coding helps in defining the project scope and works as a checklist. RBS helps the project manager identify the probability of occurrence of a particular risk and the impact caused by the risk. This helps PMs to objectively handle risk and prioritize them by order of their scores.
Enhanced Risk Analysis
Risk analysis will provide a comprehensive and organized analysis of project risks. Following program-wide risk analysis will save you time and money. It will also help you analyze if risks are manageable or highly threatening.
A well planned, executed set of project controls allows for earned value analysis (EVA). EVA assists you in monitoring progress, assessing the time, and estimating the cost. The project controls also help in reducing cost overruns.
This is a collection of documents and notes that comprise meeting minutes, emails, phone calls, and even recordings of in-person conversation. A good contact report must consist of essential details in an easily readable way. This will help the team understand what the next steps should be.
A well-established and consistent project control process is the backbone for delivering projects on time and budget. Adhering to the project controls will undoubtedly help you in managing risks and perform better. To learn more about project control and its benefits, click on https://thedigitalprojectmanager.com/project-controls-simplified/.